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EA introduction fee

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  • EA introduction fee

    Just approached an EA about selling my house. He says he has a buyer lined up who wants property in my street. What comm can I expect to pay if this goes through without any advertising or marketing going on on the part of the EA?

    Thank you

  • #2
    Re: EA introduction fee

    If that's true and the sale to that particular buyer went through, that would be fantastic.
    However, he might just have been saying that to persuade you to sign up with his agency. I would still approach another couple of EAs and, if the buyer does exist and is specifically looking for a property in your street, he/she would have registered with the other EAs in your local area as well. So, in theory, the other EAs would tell you the same thing.
    Anyway, to answer your question, I wouldn't pay any more than 1%.


    • #3
      Re: EA introduction fee

      In theory you should pay the same as any other client of that EA. The fact that the agent hasn't spent any money on advertising your property shouldn't matter, if you instruct an agent to sell your property then that is the end result that you require. If a buyer can be found within a week then better for the agent, better for you, better for the buyer, so why not pay the going rate? Or would you prefer to be on the market for 6 months before selling just so the agent can justify his fee by spending out money and putting in some effort? Either way the result is the same, but you get moved nice and quickly - bonus!

      However, as Kaz has said, there are plenty of agents out there who are willing to say this stuff just to get you signed up with them.

      Why not challenge their integrity on it by asking them to agree to a "One off viewing" contract - i.e. you sign up to allow them to bring their buyer around and will pay them a fee if that person buys the property but you are not tied to a long contract if it turns out to be false.

      Or, tell them that you'll sign a 2 week contract with no tie-in and no notice period for cancellation (you can always stay with them longer than 2 weeks if you're happy with what they do), that way they can bring their hot buyer around but you are not committed if they are not being honest with you.

      Best of luck.
      Property for sale in Torquay