While the layout and content of agency agreements can vary between agencies, it should include the following things. Details about the property for sale •• The address of your property. •• The chattels to be sold with your property (for example, whiteware or curtains). •• Details about your property (for example, number of bedrooms and bathrooms, land area). You must make sure that any details you give the agent are accurate. If you don’t, you may leave yourself open to legal action from a buyer. Details about the parties to the agreement •• Your name, address and other contact details. •• Your lawyer’s name and contact details. •• The name of the agent mainly responsible for marketing and selling your property. •• The agency’s name and address. Who has the authority to sell the property? If you’re not the sole owner of the property, either: •• all owners must sign the agency agreement, or •• you must show you have the authority to sign for all the other owners (you will need to provide the agent with written confirmation, such as power of attorney, resolution of trustees, company minutes or a court document). Confirmation that you’ve been given a copy of this guide Your agent is legally obliged to give you a copy of this guide before you sign an agency agreement. They also have to get your written confirmation that you’ve received it. Details of what you authorise the agency to do The agency agreement appoints your chosen agency and sets out what you authorise them to do. For example: •• advertise your property for sale at the price, in the way and on the conditions you’ve agreed to •• arrange inspection of your property by prospective buyers •• receive a deposit on your behalf •• take their commission from the deposit. The type of agency agreement and how long it lasts The agency agreement will state whether it’s a sole agency or general agency agreement, when it starts, when it ends and how to end it. It is up to you and the agency to agree how long the agreement will last. It is important to tell the agent everything you know about the property. An agent is required to disclose known defects of a property to a potential buyer, and you may not instruct an agent to withhold this information. An agent may cancel an agency agreement if you instruct them not to disclose known defects. The agent must give you a copy of the agency agreement. What’s in an agency agreement
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