Finding the right estate agent can be difficult.
One alternative is to appoint several at the same time.
This is done via multi-agency agreements.
Read on to find out how they work, alternatives, and more.
What is a multi-agency agreement?
A multi-agency agreement (MAA) is a contract between two or more estate agents.
They both agree to market a property – jointly or separately.
Sometimes, the agents will split their commission, no matter who finds the buyer.
But it’s more common for the entire commission to go to the agency that finds a buyer.
Multi-agency agreement contracts
The agreement should define the duration of the contract. And it should contain termination clauses.
For example, the seller may want the option to remove an underperforming agent after an initial trial period.
The contract terms can be customised to meet clients’ preferences.
Alternatives to a multi-agency agreement
Sole agency
A sole agency agreement means only one estate agent is appointed to market the property.
They receive the full commission if they find a buyer or tenant.
Joint sole agency
Two agents market the property. They agree in advance how to split commission.
Sole selling rights
One agent is appointed on a sole agency basis. But the seller retains the right to find a buyer without paying a commission.
Direct marketing
Sellers can sell their house without an agent. This avoids agent fees altogether.
But it is time-intensive and requires experience or learning. (I.e., on how to market your property, for example).
Hybrid approach
For example, you can appoint one sole agent while also conducting independent marketing.
The agent contract can be flexible to suit the needs of the client.
The choice should align with your priorities.
Alternative selling channels
The open market is just one of several ways to sell your property.
Alternative ways to sell your house include property auctions and cash buying companies.
These channels come with their advantages and disadvantages.
How common are multi-agency agreements?
Multi-agency agreements (MAAs) are less common in strong seller’s markets with high demand.
Sellers may prefer appointing one sole agent to coordinate viewings and the sales process.
However, multi-agency agreements remain popular with many UK home sellers and landlords.
They are more common in challenging market conditions. Or for high-value or unusual properties.
Advantages of a multi-agency agreement
Wider marketing reach
More agents mean more buyer enquiries, viewings and marketing exposure.
Competition
Agents will compete with each other to find a buyer first. This can speed up the process.
Market valuation
Feedback from different agents gives the seller a good idea of market demand and how much the property is worth.
Backup option
If one agent struggles to perform, or you are unhappy with their service, other agents are still marketing the property.
Disadvantages of a multi-agency agreement
Confusion over viewings
Diary management can become complicated with many agents booking viewings. Lack of communication often creates confusion.
(One way around this is to organise open viewings.)
Duplicated efforts
The process is less streamlined and efficient.
For example, both agents may conduct separate condition reports or measurements.
