Switching estate agents in London can be a strategic move if you’re not getting the desired results with your current agent. This guide covers when and how to switch estate agents in London, considerations before making the change, and important steps to follow for a smooth transition. We also answer frequently asked questions about switching estate agents in London.
When Should You Change Estate Agents?
Changing estate agents, especially in a competitive market like London, is a significant decision. It involves risks, but switching from an underperforming agent can have many benefits. Consider changing agents if:
- Your agents aren’t responsive or don’t communicate as agreed.
- You haven’t had many (or any) house viewings.
- Their properties aren’t advertised on online property advertising platforms .
Can You Change Estate Agents in London?
Yes, you can change estate agents in London, but you might be subject to a minimum tie-in period. This is the minimum time your estate agent has to market your house, usually ranging from 4 to 12 weeks. Check your contract for tie-in periods and any fees for early termination.
Considerations Before Switching Estate Agents
Before switching, consider these factors:
- Fixed Fee Contract: You might have to pay a fee to exit the contract.
- Sole Agency Agreement: Your agent only gets a fee if they find a buyer.
- Sole Selling Rights Agreement: You’ll have to pay the fee, no matter what.
Review your contract to understand your position and rights. Speak with a solicitor if you’re confused about your rights.
Why Do You Want to Switch?
Create a list of reasons why you’re unhappy with your current agent and note the positives too. This balanced approach will help you make a rational decision about whether to leave your current agent.
Common Reasons to Switch:
- Lack of Communication: If your agent doesn’t respond to messages or calls, it’s a sign of poor service.
- No House Viewings: Consider if it’s due to poor marketing or other factors.
- Property Not Listed Online: Your agent isn’t doing their job if your property isn’t on major platforms.
- Pressure to Reduce Asking Price: Ensure you get at least three valuations to set the right price.
How to Change Estate Agents in London
Switching agents can be straightforward if you follow these steps:
- Review Your Tie-in Period: Check your contract for the tie-in period.
- Give Notice: Many contracts require a minimum notice period.
- Create an Agent Shortlist: Compare and contrast terms and conditions.
- Interview Agents: Ask questions like, “Why do you think my property hasn’t sold?”
- Choose a New Agent: Discuss and establish terms before signing a new contract.
Important Things to Do When Changing Estate Agents
- Read Your Contract: Understand the tie-in period and potential exit fees.
- Give Notice: Ensure you follow the correct notice period to avoid breaching the contract.
- Get Details Passed On: Request details of previous viewers from your old agent.
Will Switching Estate Agents Cost More?
You may need to pay your old agent if you signed a fixed-price sole selling rights agreement. Examine your agreement carefully before switching.
FAQs
Can you get out of an estate agent contract in London?
Yes, you can exit during the cool-off period or in case of a contract breach.
Can you have two estate agents in London?
Yes, but it depends on your agreement. Some agents include exclusivity agreements in their contracts.
How do I give notice to an estate agent in London?
Check your contract for the notice period and give notice in writing via email or letter.
Can I cancel my estate agent contract within 14 days in London?
Yes, many contracts include a 14-day cooling-off period.
Will I have to pay commission to my old agent after switching in London?
You might have to if you signed a sole selling rights agreement.
Can I sell my house privately in London after listing with an estate agent?
No, you must wait for your contract period to end to avoid paying fees.
When is an estate agent in London entitled to commission?
Commission fees are usually due upon conclusion of the sale.