UK Estate Agents

Estate Agents and Homes Go Fast.

We are not in the game of putting estate agents down in order to sell our products. We work alongside many reputable property agents worldwide.

Selling property privately-Homes Go Fast is not an estate agency we market properties on our own network of web sites and that of our partners. This gives huge exposure for your property. Our legal position is that we provide advertising space for your property. We assist you to sell your property privately by marketing it effectively on the internet,we are not an estate agency.

In the UK when you sell your property privately you may not have to pay your estate agent any commission even if you have signed a sole or multi agency agreement. see below for Office of Fair Trading contract definitions.

Don’t take our word for it.

The Office of Fair trading provides a free guide to using an estate agent which clarifies your position when you sell your property yourself click here for a copy.

Download Office of Fair Trading new quick guide to buying or selling your home, in pdf format (242 kb)

UK Estate Agents and the Law

Estate agents have to comply with the Estate Agents Act 1979 when they act for people who are buying or selling property. The Office of Fair Trading can ban people from acting as estate agents if it considers them to be unfit to carry on estate agency work. Complaints about estate agents should be directed to Trading Standards or the Office of Fair Trading.

The act lays down the duties that agents owe to clients, such as

Passing on all offers to the vendor in writing
Handling clients money
Disclosing a personal interest if the agent may benefit from the sale of the property (e.g. if a relative or business partner of the agent is buying the property you are selling)
Giving written details of charges prior to entering into a contract
Providing details of any services provided by the agent to buyers
The act gives the Office of Fair Trading the power to issue warning or prohibition notices against those persons whom it considers to be unfit to carry on estate agency work.

Complaints about Estate agents are dealt with by the Office of Fair Trading, which enforce the Estate Agent Act.

Office of Fair Trading
Fleetbank House
2-6 Salisbury Square
London EC4Y 8JX

Phone: 020 7211 8000
Fax: 020 7211 8800
E-mail: enquiries@oft.gov.uk
Web-site: www.oft.gov.uk

Some estate agents belong to the Ombudsman for Estate Agents (OEA) Scheme. The OEA scheme is devised to address disputes between member agencies and consumers who are actual or potential buyers or sellers of residential property in the UK. See Professional Bodies

Using an estate agent - selling a property ( England Wales and Northern Ireland)

The contract

When you use an estate agent to help you sell a property, you have to sign a legally binding contract.

Before signing, read the contract carefully and make sure you understand it. Find out whether you have the right to cancel the contract. Check how long it will run. It should allow a reasonable length of time to market your property and find potential buyers. Beware of contracts that tie you to an estate agent for a very long time.

If you are unsure, get advice from a solicitor or your local Citizens Advice Bureau.

You may come across some unfamiliar terms in a contract. Make sure you understand what you are agreeing to. The terms 'sole agency', 'sole selling rights' and 'ready, willing and able purchaser' must be explained in writing if they are used in a contract.

Sole agency

The estate agent you appoint is the only agent with the right to sell your property. As you are not an agent If you find a buyer yourself, you don't have to pay the estate agent's commission although you may still have to pay for advertising or a 'For Sale' board.

If you change from one agent to another, there may be a period when both agents' commissions are due if your property is sold.

Sole selling rights

The estate agent is the only person with the right to sell your property. It is different from sole agency: if you find a buyer yourself, you still have to pay the estate agent.

Ready, willing and able purchaser

You have to pay if the estate agent finds a buyer who is prepared and able to buy your property and exchange unconditional contracts. You still have to pay even if you withdraw from the sale and unconditional contracts are not exchanged.

Multiple agency

You can ask several estate agents to act for you on a multiple-agency basis. Only the estate agent who sells the property will be entitled to a commission. The rate of commission is likely to be higher than for a sole agency or sole selling rights contract.

A few estate agents offer a 'joint sole agency' contract where two agents agree to share one commission, although the total fee may be higher.

If you appoint more than one estate agent to sell your property under a sole agency or a sole selling rights contract, each agent has the right to claim their fee when the property is sold.