If you’ve ever sold property through an agent, or agency, you will probably know that sellers are often warned not to give sole mandates to agents, but in fact, sole mandates reduce the chance of obstacles and problems in an already-complex transaction.
A sole mandate is a mutually beneficial contract – to both the seller and the agent. If a seller is not happy with an agent's performance during the marketing of their property, the seller can report the agent to the agency Principal. This brings a high level of accountability into the relationship that keeps things both professional and ethically sound.
We want to empower you and provide help and answers to our most frequently asked questions about sole mandates. If you can't find what you're looking for please contact us.
What is a Sole Mandate and why should I sign one?
Under a sole mandate a seller gives exclusive rights to a particular Estate Agency to find a buyer; no agent from any other agency may market the property during the sole mandate period. A multitude of benefits include: prevention of double commission, avoidance of over-exposure, improved security and, ultimately, a higher price is fetched for the seller.
What are the benefits of a sole mandate?
- Provides time to secure the highest price
- Eliminates any race for a "QUICK, LOW OFFER"
- Only one reason is given for selling
- Viewing times are set which gives you far greater security
- All potential buyers are funneled through one agent, reducing over-exposure of the property
- There is only one pool of buyers which creates a healthy platform for competition
- There is greater motivation for the agent as written intention to sell shows that you’re a serious seller
- There is a moral commitment between the agent and you
- Generous advertising budget, consistent advertising and consistent show houses
- You are able to monitor and control the agent's marketing plan
- Agent provides regular activity reports
- You have control over the price: One Agent - One Price
- You receive after-sales service
- Double commission is prevented
When dealing with a reputable and trusted agency, a sole-mandate is your best option to sell your home. Make the smart choice, choose the Rivigan Property Group.
