We understand how stressful it can be to sell your home, and it is reasonable that prospective sellers may be tempted to appoint two or more agents in the hope of increasing their chances of selling. However, this can be counter-productive, for the following reasons:
- Build a platform of competition between buyers – not agents! A sole agent has time to negotiate the best deal for you, rather than trying to secure a sale at any price before a competing agent does so.
- Most agents draw from the same pool of buyers, so more agents does not equal more buyers! In fact, too many cooks spoil the broth.
- If another agent genuinely has a buyer that is not on our own books then we will happily work with them on a shared commission basis at no extra cost to you.
- Don’t cheapen your house – appearing desperate puts people off.
- A sole agent is accountable to you and committed to delivering results. Shared accountability is no accountability!
- A sole agent is willing to invest considerable time, effort and expense in marketing your property as there is a guaranteed commission when a sale results.
- Buyers are attracted to sole agencies, as they know they will be dealing with the main player and are unlikely to be gazumped.
- There may be certain security or sensitive issues involved that can be compromised under a multiple agency.
- Conflicting prices/terms in multiple agents’ adverts can jeopardise a sale.
- Sole agency avoids potential claims for double commission if there is any confusion over
who actually introduced the buyer.
- Sole Agency fees are often lower than the commission percentage charged for multiple
- Statistics show that sole agency properties tend to sell faster.
Most of our properties are sole agencies because of our passionate belief in accountability, service and results. So when the time comes to sell, why not call you local Oakfield branch for a chat.
Neil Newstead, FARLA MNAEA
Chief Executive Officer