What does 'Split Commission' mean when buying a property?

Find out what Split Commission means when you are buying a property. 'What does Split Commission mean?' plus over 150 other property related terms and jargon in plain English

Split Commission

Split commission is a practice often found in very small estate agents.

Often found in very small estate agents. One agent will win an instruction to sell a property for a certain fee. He will then offer to split this fee with another agent if they can sell it - sometimes without telling the vendor.

There are security issues with this and the vendor ends up with a lack of control, not knowing where or how their property is being marketed.

If the estate agent is up front about this practice there is nothing to be concerned about.

As a buyer you will probably never be aware of this and its largely irrelevant to you because the vendor pays the estate agents fees.

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Chapter 23: Why Vendors Choose Bad Estate Agents

"... agency. There are three other scenarios that any vendor should be aware of, at least one of which should be avoided: Joint Sole Agency split commission Multiple Agency - Joint Sole Agency - This is a fallacy and a very glossy way of saying you are on with two agents. You are either..."

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"... advertising the words "joint sole" can be used to make the property sound exclusive in some other way than having to say "multiple". - split commission - This will often happen without the vendor knowing it and works something like this: You instruct Agent A to market your property..."

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"... has keys and an agent you may have decided to avoid is actually on the case. split commissions are most often found in very small agents where they do not have the staff or resources to market effectively. - Multiple Agency - Most agents will try to make you feel bad about going on..."

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Split Commission

What's in the 2022 edition .....

Why buying property is right for some and wrong for others;
The state of the market today;
What Brexit and Covid 19 means to the future of UK property;
How the media have become unreliable indicators of the market;
Who makes good quality predictions for the property market (and who doesn't);
How the market works over the short term and the long term;
The difference between property bubbles and property booms;
Why it can be a good idea to buy when prices are falling;
The principles of buying a property to let and what the text books don't tell you;
Ways to get on the property ladder when it looks impossible;
How professional buyers and investors work with estate agents to get better deals;
Why you should see as many Financial Advisors as possible;
What to do before you start viewing so you don't lose your dream home;
Who the surveyor, solicitor and estate agent are really working for;
How to make an offer to get things your way;
Who to trust and who, with the best intentions, may be misleading you;
Why you should work to minimise the time between offer agreed and exchange;
Making sense of a property survey including:
- What type of survey to get and why structural surveys can be money wasted;
- Why surveyors should never estimate the cost of works;
- When rising damp, penetrating damp, subsidence, cracking, sagging roofs, bulging walls and all the other frightening things in a surveyor's report might be serious, and when they are not;
- Why asking the vendor to carry out work is not always a good idea.
Step by step guides explaining what should be happening, what can happen, and how to solve mole hills before they become mountains;
Over 140 terms in an easy to use glossary so the jargon of the property industry can be understood;
20 true stories of successes, and disasters, that real people experienced when buying a property.

.... and what's not in the book ...

Continuous commentary banging on about how great property is and that it is the only place to put your money!
Recommending businesses that I get kickbacks from.
Rewording and republishing what is available freely from most websites anyway.
Endless tales of how easy it is to buy property and profit.
Attempts to sell you some course or other product.
Blank pages and spaced out text to make the book seem bigger.

What does 'Split Commission' mean when buying a property?

Split Commission

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What's in the 2022 edition .....

.... and what's not in the book ...

Search Results for 'split commission' in
How to Really Buy a Property

Search Results for 'split commission' in
Property FAQ

Search Results for 'split commission' in
Property Terminology