Multiple Agency vs. Sole Agency

A very popular dilemma experienced by landlords after deciding to sign up to one agency to sell or rent their property through is should they also instruct other agencies for the same job? The thought process behind this is that choosing to go down the multiple agency route will increase the chances of a faster let/ sell. There is no right or wrong answer but for landlords to understand what this would entail.
  • You would incur multiple agency fees from the agency who wins the business. This is usually a few percentage points higher than their sole agency rates since each agency faces the risk of hard work for no reward.
  • As you would wish for a certain rental to be achieved, some agencies who charge higher fees would need to market the property at an increased price. Instructing multiple agencies who advertise the property at different prices can be confusing for people searching online and can appear desperate.
  • Instructing multiple agencies on the premise that increased competition will mean a faster sell/let can also lead to an agency not being so aggressive with trying to secure you the highest price. There is the worry that if they wait for a better offer to come in they may lose their commission to someone else.
  • It could be that after employing one agency for a couple of weeks and you feel that you are not receiving the service that you should- i.e. number of viewings, regular feedback from the viewings, then it may be a good idea to switch. Sole agency terms are usually between 2-6 weeks but make sure you check your agreement so as not to get trapped into anything or incur double charges if you break the T’s and C’s.
  • Under multiple agency instructions you will have to loan out numerous sets of keys for the property. This may mean the viewing process will become more intrusive if the property is tenanted and clashing viewings can become awkward to carry out.
  • When landlords decide to use an estate agents to let or sell their property they may feel lost in a sea of agencies to choose from. On the high street you will be confronted with the larger, more established agencies or the new ones springing up left, right and centre. It is difficult to know which one will provide great service, value of money and you can trust to leave your property in their hands. Property People have a proven track record as we have established ourselves through word of mouth within the community. 90% of our business come through recommendations. See our testimonials page to read what our clients say about us. By Natalie Elms. Senior Lettings Negotiator at Property People. Estate agents in Wimbledon Park
    Tags: Multiple Agency vs. Sole Agency, Estate agents in Southfields, letting agents in wimbledon park, choosing a letting agent, multiple Estate agent fees, sole agency fees, landlord fees