We have a house listed for sale and were preparing to switch agents. They have had the property for 90 days so we can switch at any time. The current agent came to us with a good written offer yesterday but another agent we were planning on switching to reckons he has a client willing to pay 45k more. Any legal suggestions on how we should handle this? Im afraid if we switch agents then the new one tells us the offer has fallen through as there is nothing binding. Any suggestions
Oldest trick in the book. Ask to see a signed contract with a substantial bank cheque for the deposit. Marg
Agree with @Marg4000 but watch out for double commission if the original agent is still in their exclusivity period.
Depending on location, if it's in Nsw you have to give the agent 30 days notice in writing to terminate an agency agreement. Why would a buyer wait for another agent to take over the listing, wouldn't the purchaser be concerned of missing out ?
REA 1 - offer on the table REA 2 - Says he has a buyer who is going to pay 45k more? Sorry but I call BS on agent 2, buyers are not loyal to REA. If there was a house I wanted and the agent I hated the most and didn't want to deal with had listed it guess what I have to deal with them. Either that or go purchase something else. I have spent breakfast with a number of agents in my local area but they know if I was buying they will try and source me one of their properties and some might look at other agency's listings but they all know if they don't have the stock I wont be buying from them. Recent example, there was one of the preferred agents who gets a number of properties in the area I was look at purchasing in. Bided at an auction he had and we had done a B&P on another (no issues) but we purchased in another area so he got nothing from us (still got his commission from vendor as others purchased).
