My experience of selling property through real estate agents is that they prefer not to enter into a open or sole agency agreements. They prefer to have the sole right to the commission for that listing and are unwilling to sign alternative agreements.

The last property i sold through an agent i insisted on having a sole agreement. Lucky, because I ended up finding the buyer myself meaning I did not need to pay the agent any commission. That was the turning point for me so now i will always sell privately.

Ryan here from Vode Property.

Given the slow down in the property market and how agents are struggling to sell property, you will find they are desperate for listings and are prepared to enter into Open Agency Agreements. This isn’t all bad for Agents as they usually aren’t locked in to finding a buyer within 90 days, which can be hard given the lack of buyers in the market.

As Rodney pointed out, the growth of the internet has made selling property easier and property owners understand this. Although agents try to ignore this and insist on Exclusive Agency Agreements, property owners won’t and are opting for non exclusive agreements.

All of our Agreements are Open Agency Agreements meaning the property owner can find a buyer themselves or through another agent and no fixed success fee is payable to us. Our Agreements also allow the property owner to end the Agreement with one days written notice.

Hi All, I’ve got my property listed with Privatepoint and I have been reading this section for a while.

I thought I would share my first experience about selling a property. I had a place on the market with an agent in Hobart and had an agency agreement with the agent. I was under the impression the agreement allowed me to sell my property myself and not need to pay the agent a commission.

I ended up finding a buyer for the property through a friend and didn’t even use the agent to negotiate the sale. I contacted the agent to let her know i had found a buyer and that the property can be taken off the market. When she said I was still being charged the commission I was shocked. I read the agreement again i saw that i had a agreed to an exclusive arrangement.

I signed the agreement without reading it correctly and thought it was no brainer that if i found a buyer the agent would not get paid. Not the case at all.

The agent was kind enough to reduce her commission so that was a little comforting.

I often learn things the hard way (it could have been harder if it wasn’t for the kind agent) and I encourage all other property owners to make sure they read and understand what they are signing.

That is true, you are in control of the sale but obviously your number one concern is making sure the client’s (potential property buyers) needs are addressed.

Thanks for sharing your frustration with us paringa. Agents are known for their pushiness and persuasiveness, it helps them get ink to paper.

The agent should have backed down if you clearly outlined in the Agency Agreement that no “conjunction arrangements” were allowed. If this is what the agreement said then the agent had no right to expect you to pay the commission to the other agent.

This is further conclusive evidence that you need to have your wits about you when dealing with agents. It isn’t always the case they are working with you but sometimes against you!

Rodney, your quote “It isn’t always the case they are working with you but sometimes against you” I hope you are not saying this behaviour is acceptable??

It is an agents duty to make sure they are acting in the interest of the vendor/proeprty owner and not in the interest of the purchaser or for their own personal interest.

If all agents were doing this it would be a chaotic marketplace.

I suggest that all property owners who are thinking of selling should check up on their rights before they deal with an agent. Each State and Territory has an Office of Fair Trading (or equivalent) who regulate all agents. Alternatively, the real estate institutes in each state are another good place to find material for consumers.

Before you sign an agency agreement the agent is required to provide you with a copy of that states agency agreement fact sheet. This document outlines your rights as a consumer in very basic terminology.

Once you know your rights then you can stand up against these half wit agents. I am an agent and their are a heap other honest decent agents out there just like me who are working hard for property owners.