Oh the irony…
EstateAgentToday.co.uk writes this morning that one estate agent has taken to suing an estate agent over, seemingly, an unpaid commission for selling his home.
The exact details are unclear however Jamal Abraham, of Hyatt Estates in London has taken out a High Court action against Matthew Fine who is a director of Bairstow Eves on the basis that he is owed a sellin fee in respect of a £2m property near Hyde Park.
Not on the basis of schadenfreude you understand, but we’re looking forward to seeing how this pans out. What defence will Mr Fine advance in order to avoid payment? Many home sellers that have perhaps been subject to legal action by the Countrywide Group, owners of Bairstow Eves, will be watching with anticipation no doubt. Because if Mr Fine and his lawyers were to plead that monies are not owed, they might like to wonder how such an argument might apply to them too in relation to commissions ‘owed’ by them to his firm?
This one should be interesting…
The average UK selling fee is 1.6% of sale price. That’s £38,400 including vat in this case, probably.
Of course, if Mr Fine had used an online estate agent like eMoov then there would no doubt be little dispute. Especially as our cost would have been just £349 plus vat.