Should I Consider Dual Promoting A For Sale By Owner House
There are many for sale by owners who consider the option of dual selling with an broker while advertising there dwelling themselves at the same time, this article aims to give some advice pertaining to agreements and commission entitlements.
First of all I would like to say that dual advertising is a distinct possibility and can be an advantage in cajoling an agent in to actively pursuing a buyer, but it could be dangerous to assume that in the event you manage to sell your home through you’re own efforts of promoting that you would exempts from paying the agents commission fee.
Whether a commission fee is paid or not is dependent on the type of agreement made between a seller and an agent. For those who are currently with an agent and wish to also market their property privately there must first be a renegotiation of any contract previously made between the two parties, any professional agency should only be too willing to listen to any concerns a seller may bring to them, it may be pretty hard to convince an agent of the benefits to dual advertising between a seller and an estate agent, especially if there is a contract agreed to by both sides already in place. If you come to the decision that dual market a dwelling when you have a pre existing signed contract then I would suggest sitting down with your agent and discussing the situation, if you don’t ask you don’t get and you will never know you may be successful. The termination of a contract is also a distinct possibility but be mindful that this action could incur penalties in the way of a payment or not having the ability to market your abode for a set time period with any other agency, it the house is sold during this time period the seller could be in a posision of still having to pay the initial commission fee to the original agent, in the event that you asked to be released from your agreement early and it is granted made sure it is put in writing and be aware of all the penalties you have incurred.
Those of you who have not yet placed your home with an agent and may be considering the idea of dual promoting are in a much stronger position than those who are considering dual promoting after-the-fact, normally people from britain don’t like the idea of haggling, but whenever a contract is made between two parties the negotiations of that agreement is key, so before any agreement is signed there must be negotiations from both the agent and the seller resulting in favour for both parties.
If your intention is to dual market as a for sale by owner UK then this should be made clear from the outset, the best strategy when dealing with an agent is to be upfront with your intentions, agents have many types of agreements of which one may fit your needs, negotiating a agreement with an agent may leave you pleasantly surprised at just how strong your opposition as a seller is, estate agents actively seek out your business so if they feel they stand a better chance of achieving a sale of your home then they will be flexible to the type of contract they offer you, but be mindful that if an agent cannot tie you to there preferred contract they may try to slant the contract in there favour in other ways i.e. higher commission fee in the event they manage to sell your house first.
Lastly, keep in mind that if one agent will not offer you the type of agreement you wish, there are many more agent that will only be to willing to take your business with term that keep both parties happy, you may need to give in to some of there demands i.e. you may need to pay for a home information pack your self or other services, but the saving of the commission fee can make this easier to except for a for sale by owner
Good Luck!
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