SA Property Owners
Exclusive Sole Mandate vs Open Mandate
“The fact is, more is definitely not merrier, when it comes to home sales”
The big question a property owner will always ask:
How much can I sell my property for?
Let’s kick off with some industry facts related to what you get with an exclusive sole mandate vs an open mandate and take a look at the pro’s and con’s.
Exclusive Sole Mandate:
An exclusive sole mandate’s strength of security for both sellers and agents lies in the fact that it is a legally binding document comprising a set of legal controls backed by the Estate Agency Affairs Board (EAAB) Code of Conduct. An exclusive mandates agreement will usually stipulate a set length of time. A seller can appoint another agent if they not satisfied with the service they receive once the sole mandate period has elapsed.
What do I get with an exclusive sole mandate?
- You get a single estate agent (property professional) with many years of industry experience, specializing in property sales.
- A property professional that understands you and your needs.
- A property professional who will work with your best interests at heart.
What are the Pro’s: WIN/WIN
- A simplified sales process and a genuine working relationship with a single property professional, not several.
- Your property professional will work with you to make sure you get the highest possible price.
- The property professional should provide you with a marketing plan.
- The level of dedication to marketing your property is much higher, time and money invested is not wasted.
- It will ensure that an entire team within a real estate network is cooperating to sell the property.
- Exclusive sole mandate listings attract better offers than open listings.
Did you know?
Most estate agencies that have stood the test of time guarantee a penalty free cancellation on an exclusive mandate agreements should they fail to deliver.
Open mandates can bring about complications, leading to the probability of questions as to which agency was in fact the effective cause of the sale. There is always the chance of a possible double commission claim.
What do I get with an open mandate?
- Property professionals compete against each other instead of acting on your behalf. Is that what you really want? I would imagine you want buyers fighting over your property.
- The agent may take any offer that comes along and try to convince you to accept it. ” Your Property May Not Be Their Priority”.
What are the con’s?LOSE/LOSE
- Overexposed property, buyers losing interest and a negative perception.
- Agent wars, buyers who see many ‘for sale’ boards on a property will often “shop around” among those agents.
- Under offers.
Did you Know?
It only takes one property professional to sell your house.
If you want to save a buck, you better off selling your property yourself. After all, you know your property better than any estate agent out there. These days the internet offers free information with the most recent property sales in your area, this can be a useful benchmark. There are 2 leading property platforms that just about every estate agency feeds their listing to daily and buyers search for properties.
But you need to ask yourself, are you actually saving a buck or losing out on getting more for your property?.
The answer to The big question:
- Your property is only worth what a buyer is prepared to pay for it.
- If the listing price matches the market value of your home, you are in business.
- Properties that are priced right, sell within a few weeks.
- Using a property professional that has many years of industry knowledge and experience will ensure you get the highest price for your property in the shortest time frame.
You still need a property professional who has industry knowledge and expertise, who can do a full property analysis, evaluation and offer price counseling advice to ensure your property is priced right. Let’s not forget about the buyer, buying a house is one of the biggest investment decisions someone will make in their lifetime, it’s important to ensure a smooth hassle free sale.
Why Choose property247.mobi
Having knowledge and expertise within the property industry, we are able to understand you and your needs.
WeConnectYou with trusted property professionals that:
- Get your property sold the first time round,
- Pride themselves on assisting sellers quickly and efficiently,
- Specialize in your local area,
- Do a property evaluation and price counseling to ensure that your property is priced right,
- Are able to do a thorough marketing plan,
- Will quickly get your property listed,
- Do marketing that is directed to the right targeted audience, resulting in a much quicker sale,
- Will handle all negotiations,
- Will ensure a smooth hassle free awesome experience.
property247.mobi Changing the way people buy and sell property!!