A multiple agency scenario describes a situation where you employ the services of more than one estate agent when selling your property. The agent who succeeds in selling your property will then take the whole fee for doing so.
There are advantages and disadvantages to adopting the multiple agency route when selling. On the positive side, it could mean you can sell your home faster, as details of the property should reach more people. However, the negatives are that you may end up paying more in fees than you would if you stuck with a single estate agent. It also tends to give the impression you are having trouble selling your property, even though this may not be true. Prospective buyers might receive information about your home from several estate agents, which could make you look desperate to sell for some reason.
Buyers also tend to be less confident when they receive details of the same property from several sources. If they have received information from more than one source, other would-be buyers will too. This means there could be an increased chance of another buyer appearing, making it more difficult to place a successful offer on the property.
That said, it can also depend on the state of the market. The multiple agency approach tends to work better when there are lots of properties available in a sluggish housing market. It ensures the property is seen by as many people as possible, thereby raising the chances that someone will take interest in it.