You are selling and have chosen an agent. The Agent has prepared the Agents Selling Authority, usually exclusive for 90 days. But what if you are not happy with the level of service? You are locked in. Have you read the fine print. Probably not.
A suggestion made by estate agent Terry Ryder of McGrath Partners suggests that you consider putting a termination clause in the agency agreement. "It should give you the right to sack your agent if you're not happy with their level of service. Because in standard agreements, you're kind of locked in. A prudent seller would insist on writing in a clause which gives you the right to terminate without incurring any financial penalty."
Take Action
If you aren't happy with the treatment you've received as a buyer or vendor, you can make a complaint to the Real Estate Institute in your State or Territory. You could also contact the Department of Fair Trading, or equivalent in your State.
If you've been left out of pocket, and it was the agent's fault, seek legal advice in relation to your rights.
Top 10 questions to ask agents
1.How long have you been working in this area?
2.What comparable homes have you sold in this area lately?
3.What is the state of the market?
4.How long is it taking you to sell well-priced listings at the moment?
5.How much is my home worth? How have you come up with that figure?
6.Should I sell by auction or private treaty? Why?
7.What marketing strategy do you suggest? Why?
8.What will you do to introduce buyers to my property?
9.How does my house present? What should I do to maximise the sale price?
10.Do you have a list of recent vendors I can speak to?
Source Metropole Property Newsletter
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