Using an estate agent - selling a property

If you are selling your property and want to use an estate agent it is worthwhile reading up on your rights.

Estate agents

An estate agent doesn't have to be registered to practice, although many are registered with the National Association of Estate Agents (NAEA) and the Property Ombudsman (TPO) scheme. This means they have to abide by a code of practice.

All estate agents are bound by the Estate Agents Act, whether or not they are registered with a governing body. For more information, please check the link below:

Estate Agents Act - Office of Fair Trading website

The contract and fees

When you use an estate agent to help you sell a property, you have to sign a legally binding contract. Before you sign, read the contract carefully and make sure you understand it, in particular, the following points:

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, but 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.

Estate agents charge fees to sellers, not buyers, so make sure you understand how much you will have to pay, when and under what circumstances. Remember that Value Added Tax (VAT) will also be added, so take account of this in your calculations.

For more information please use the link below:

National Association of Estate Agents website

Complaints

If you have a complaint about the conduct of an estate agent you can contact the Property Ombudsman. The Property Ombudsman scheme provides an independent service for dealing with disputes between estate agents who are members of the Ombudsman Scheme, and consumers who are actual, or potential buyers or sellers of residential property in the UK.

The Property Ombudsman will advise on alternative routes to take if the estate agent you wish to complain about is not a member.