The devil in the detail
Looking at some Estate Agent’s contracts, you would need a business lawyer with a very large magnifying glass to decipher what is included in what can sometimes run to pages of small print. You need to ask yourself then, why do they “hide” so much information in a format that is both couched in so much legalese and quite difficult to read.
The answer I believe is quite simple. MONEY!
Or to be exact, your money.
Tiny text that’s big on implications
Some of what is contained in these “terms and conditions” has more to do with protecting the estate agent and making them more of your money. The most common is a cancellation fee which you will be liable for if you decide to take your house off the market. This is primarily there to deter you from going with another Agency or selling yourself if you are unhappy with the time taken to sell or service you have (or rather have not) received.
This can be equal to the sales fee or commission the agency would have made on the eventual sale and is designed to tie you in to them for the duration.Other issues such as additional advertising costs can also be included here.
Most of us are guilty of skipping through or ignoring the terms and conditions of contracts but with estate agents, you do so at your peril.