“If you're thinking of listing with Balgores it may interest ......”
1 Star Review
Dec 24,2017
By:
'Unimpressed'
Dec 24,2017
Branch: Romford, 5-6 Station Chambers Victoria Road
Services: Sales (Prospective customer)
Would you recommend?: No
Postcode: RM10
Branch: Romford, 5-6 Station Chambers Victoria Road
Sales (Prospective customer)
Postcode: RM10
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If you're thinking of listing with Balgores it may interest you to know that if you have the audacity to sell the house yourself after signing a contract with Balgores they will fine you 3%.
I have it in writing *that this is company policy and is non-negotiable. Although by definition this would make this a Sole Selling agreement, Sean assured me that this was a Sole Agent agreement since that is what he had circled at the top of the contract. 10 seconds of google pulls up the following;
www.which.co.uk
Sole Selling Agreement; This means that the estate agent is the only agent with the right to sell your home during the term of the contract. The estate agent is entitled to claim a fee (typically 1-2%) even if you find a buyer yourself. We don't recommend signing a contract with sole selling rights.
www.hoa.org.uk
"Sole selling rights " If your contract gives the agent "sole selling rights" then think carefully before signing. The estate agent in the contract is the only one allowed to sell your home during the period stipulated. And you will have to pay that estate agent, even if you find your own buyer."
A professional estate agent should be very familiar with the different types of contracts, and should be able to differentiate one from the other despite what he may have written at the top of the page. Paragraph 5g of the The Property Ombudsman's code of practice requires agents to take particular care in defining and distinguishing between sole agency and sole selling rights agreements. Such a glaring mis-categorisation of contracts could be attributed to either dangerous ignorance or deliberate deceit, neither of which are qualities that one should look for in a fiduciary relationship. Interestingly, the listing contract that I was sent referenced 'Terms and Conditions,' which were not attached.
Shoddy, or deceitful..?
Comment on agent fees
3% extortion.
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