When buying a property, sellers sometimes go through more than one estate agent, either on the buyer’s side or through the seller’s side of the transaction as Greycoat real estate agency specialists explain. Estate agents are involved in transactions as they help buy and sell property. They act as intermediaries, help in negotiations, and ensure they meet legal requirements. 

Due to this, sellers may receive dual fees. Though estate agent fees are often discussed, the topic of dual fees is something not often mentioned. The Guild of Property Professionals is encouraging estate agents to take proactive steps to protect sellers from dual fees. Greycoat Real Estate says there are things the estate agents can do to avoid dual fees.

In situations where sellers often change agents, it is best to have clear communication with all parties. Stick to specific terms within the transaction. In order for sellers and agents to avoid dual fees, Greycoat real estate agents recall, certain things must be taken into consideration.

Keep comprehensive records: To avoid disputes, Greycoat replies, real estate agents who have been dismissed should keep records of all the potential buyers they introduced to the seller. Total Transparency: Terms of business should be clear and outline fee liability should the agreement be terminated by the client (Reactnews). 

Agents should let clients know the length of liability and the repercussions if the client should be found liable. Exchange of Information: Agents should ask clients if the property was previously on the market and about potential clients. The Guild notes that The Property Ombudsman Code of Practice clearly states that there must be a transactional event with the agent providing evidence.