A warning if you are Selling a Home in Newmarket - Ely - Bury St Edmunds

Choosing an Estate Agent? Don’t Just Compare the Fee. Compare the Contract.

When choosing an estate agent, most sellers focus on two things: the asking price and the commission fee. Both matter. But the terms of the agreement can be just as important.

I recently spoke to a homeowner who had no idea they had signed a 20-week sole agency agreement with a four-week notice period. In reality, that meant they could be tied to one agent for almost six months. They now can’t appoint another agent until Christmas.

If the agent delivers everything they promised at the valuation, that’s not a problem.

But what happens if they don’t?

You’re left waiting for the contract to expire before you can make a change.

What concerned me even more was that the agreement was on sole selling rights. That means even if the homeowner found their own buyer—a friend, neighbour or family member—they could still be legally required to pay the estate agent’s commission.

Of course, every seller should read a contract before signing. But shouldn’t estate agents also make these important clauses absolutely clear, rather than focusing almost entirely on the asking price and their fee?

Remember, you usually have a 14-day cooling-off period after signing. Once that has passed, you’re committed to the agreement you’ve signed.

My advice before you sign:

✓ Ask whether the agreement is Sole Agency or Sole Selling Rights.

✓ Negotiate the length of the sole agency period and the notice period.

✓ Make sure you understand exactly when commission becomes payable.

Choose an estate agent who is transparent from day one and confident enough to retain your business through service, communication and results—not by locking you into a lengthy contract.

A great estate agent shouldn’t need a long tie-in period. Bad ones do !

They should earn your business every day.