The agency is also a sales office, but as their commission would usually be for the marketing and 'buyer-finding', surely there is no basis for paying. It would be better to sell directly to the tenants, yes? This is in QLD, Australia.
2007-07-19 00:27:43 · 9 answers · asked by nzfiona 2 in Business & Finance ➔ Renting & Real Estate
Read your management agreement. It's not at all unusual for the agreement to specify that they have first option on the sales listing and a commission if you sell to your tenant. Whether those are legally enforceable in a court of law is another matter.
One option would be to allow the agreement to expire and then sell, or cancel agreement if possible.
2007-07-19 01:00:40 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
In the UK, The Correct Aswer is No..
There will be two seperate contracts, one for the letting of your property, the tenancy agreement.
One for the Marketing (Agency) agreement, usually a sole, multi, or joint. This is the agreement that the agent bases there comission collection upon. A sole agency agreement contains clauses such as you must pay the agency agreed % if they introduced the buyer....
However, I anticipate that your tenancy agreement is unrelated to the sales department of the said estate agents... thus you have not signed anything with regard to the selling of the property. They will not have a case if they try and claim a fee if you do not use them in the sale of the property.
Just read the agreement you have signed, unless they have built something in, which i find unlikely, i would advise you to speak direct with the tenant and instruct solicitors. The only advantage to using the agent is that you may have back up buyers if the tenants pull out of the purchase and they will chase the sale through for you...not difficult to do yourself.
2007-07-19 01:19:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
2
2016-07-20 05:23:09 · answer #3 · answered by ? 3 · 0⤊ 0⤋
No you dont have to. To make it easier for you, go thru your solicitor/conveyancer directly. This means that you do not have to go thru an agency at all. SO you pay no commission.
Your solicitor will draw up a contract note which the tenants have to sign and you to accepting the price. Also, the solicitor will ask you for documents like Rates notice etc.
All the best with the sale.
2007-07-20 00:20:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋
This all depends on how the potential buyer is looking at it. The first answer of course is no, they do not have to be rented out. The buyer may look at it in a couple of ways. They might say, I wonder why they are not rented, not a good sign. It could be difficult to rent in this neighborhood. It may be difficult to recoup our investment. They could also look upon it as an excellent opportunity to renovate the place and as you know, it is easier to do that without tenants occupying the space. So you see, it all depends on why they are not rented.
2016-03-15 06:47:39 · answer #5 · answered by ? 3 · 0⤊ 0⤋
It's all in the contract with the management company.
Most of the managers are smart enough to insert the clause that states that you gonna have to pay them 3-6% if you decide to sell the proeprty
2007-07-19 02:09:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Real estates cost several thousand dollars to sell your home. Do it yourself & save money just get a good convencyer to write up the contracts for you.
2007-07-19 00:47:07 · answer #7 · answered by Anonymous · 0⤊ 0⤋
you shouldn't have to give up any commission because there job is finding renters not buyers. I would also look through your contract to make sure
2007-07-19 00:34:05 · answer #8 · answered by WeLoan.Us 2 · 0⤊ 0⤋
Rent-To-Own Homes - http://RentToOwnHome.uzaev.com/?dESz
2016-07-11 15:57:05 · answer #9 · answered by ? 3 · 0⤊ 0⤋