What is the difference between sole, joint or multiple agency?
Sole agency, as the name suggests, is one single agent who is instructed to market your property usually for an agreed minimum period. We normally charge 1.25% (plus VAT) for a sole agency agreement.
A joint agency is where two companies, normally in different towns, are instructed to sell a property that lies perhaps on the edge of both offices boundaries. It is also sometimes the case that clients require a national agent based in a larger town to work in conjunction with a local agent in the nearest town. In this instance, a higher fee is agreed and normally split equally between the two agents. We charge 2% (plus VAT) for a joint agency agreement.
A multiple agency is a higher fee again where the seller can instruct any number of agents and will only pay the company that introduces the buyer. This can create the impression that the seller is overly keen to sell and when the property appears on the internet with a number of agents it can give the wrong impression. We charge 3% (plus VAT) for a multiple agency agreement.