ADVICE FOR SELLERS

AGENT CONTRACTS AND AGREEMENTS

There are a number of agreement structures available when buying or selling, and we think it pays to be informed.

EXCLUSIVE AGENTS

You deal exclusively with the agent of your choice, whom you appoint for a set period of time. All other agents introduce their buyers through your agent on a conjunctional basisĀ (where the commission is shared). They are acting as a sub-agent and have to act on your behalf, because you are paying the commission.

CONJUNCTIONAL DEALS

Where an agent other than your agent has a possible buyer for your home. They ring your agent who grants them a conjunctional which means they will share the commission if that buyer then purchases your home. The other agent does this, because if they do not ask for a conjunctional then it is highly likely that the buyer will ring your exclusive agent off the next advertisement or website and then the other agent will not be able to share the commission.

NON EXCLUSIVE AGENTS

Some sellers think they are best served by giving non-exclusive agency to several agents. The pitfalls are:-

If potential buyers see three adverts in the same paper for the same property, they often think the owners are desperate.
After the initial flurry of advertising most agents will stop advertising as they do not want to waste their time and money when it is possible that another agent will make the sale and they then receive nothing.

A BUYERS AGENT

This is where the buyer signs up with the agent to find them a house. When a suitable house is found that agent does not share in any of the commission paid by the seller, but is paid separately by the buyer. The agents responsibility in this case is to represent the buyer and purchase the home as cheaply as possible for the buyer.

AGENTS IN CONJUNCTION (As distinct from conjunctional deals)

This is where the seller appoints 2 agents as joint exclusive agents. The pitfall here is that one agent may leave the other agent to do all the work. This problem can be overcome by paying the agent who sells the property 80% of the commission. The seller should also ensure that any other 3rd conjuncting agents are paid their normal commission not a reduced amount.

We would be happy to answer any questions you may have, so contact us if you would like some advice or to discuss your options.

50 Vincent Street, Nedlands - "The selling process with Mark in charge was as smooth and stress free as we could have wished for. Mark held our hands through the whole process from getting our house picture perfect for sale right through to the end of sale process all with his no nonsense, calm approach. Thank you Mark, we'd have no hesitation in using your services again."