Agency Agreement
By this we mean the terms under which we offer our services to those selling their homes. The Estate Agents Act 1979 requires that we set out what services we offer, what our fees and charges will be and what we have to do to be entitled to this payment. These will be explained by our negotiator with the main points set out clearly in the written terms of business you will be given when your property is being registered for sale.
This obligation is covered by statutory regulations under the Estate Agents Act. If an estate agency has not given you all of this information in writing, and in advance of you asking the firm to sell your property, it has not complied with the law. The Regulations are not onerous so there is no reason why an agency would wish to avoid these legal obligations. And as a passing thought one just wonders what else they may be ignoring.
Where
an estate agent is instructed along with one or more other agents, there are no
statutory obligations over the specific wording to be included in their terms
of business. However, when an estate agent is appointed as your the sole
agent, or has sole selling rights, there
are specific forms of wording which must be used. The exact wording is set out
in the Section on Sole Agency.