Comparing Sales Agreements
To begin, we have discussed the difference between Sole Agency vs Multi Agency, but what about a joint sole agency?
Let’s briefly recap about sole agency vs multi agency.
A sole agency agreement is when a vendor chooses only one agent to market and sell their property.
A multi agency agreement is when a vendor chooses more than one agent to market and sell their property.
Simple. Now let’s understand the basic meaning behind the third agreement option.
Joint Sole Agency Explained
This sale agreement is when 2 separate property sales agents split the commission to market a property.
Two agents for the price of one.
Therefore, if there are 2 agents willing to split the commission, then there are 2 agents actively looking to sell your property.
Things to Consider
It may be beneficial to choose this sale agreement to have 2 separate agents helping you to sell your property.
However, it is important to note the following;
If an agreement states “sole selling rights”, it means that you owe the agent commision.
This is within the set period of the contract, regardless if the agent introduced the buyer or not.
Make sure you read any contract before you sign it.
Although this can be a bit time consuming, you will be happy if you do your due diligence.
It always pays in the long run to ensure you are not getting stung with unnecessary fees.
Doing Joint Sales
Metropolitan and Crown Estate Agent Ltd have been involved in all 3 of these property sales scenarios.
Sole agency, multi agency and joint sole agency agreements.
We can always help to sell your property, so feel free to give us a call on 02075388887.
In a future post, we will discuss the benefits and disadvantages of this option.