What is the exclusive real estate sales mandate and what are its advantages and disadvantages? Constraints, efficiency in the sale, prices of real estate… We explain the principle of the exclusive mandate of a real estate agency, aimed at owners wishing to sell their property.
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- Agency Mandate: The
- Principle Exclusive Mandate: Constraints and Benefits
- of Exclusive Agency Mandate
- Term of Exclusive Agency
Plan de l'article
Term Agency mandate: the principle
Entrusting your property to a real estate agency can simplify the task for many real estate owners. Simplified administrative management, less stress… but also a price to pay for the successful and faster sale of a property .
The principle of exclusive mandate is simple. A seller owner decides to entrust his property to a real estate agency. An agent will then have him sign an agency warrant in order to have permission to sell the real estate in his place.
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There are several agency mandates:
- The simple mandate
- The semi-exclusive mandate
- The exclusive mandate
Mandating an agency means that it is granted the right to act on its behalf in connection with a sale. The mandate seals an agreement between the agency and the seller. This mandate shall record the rights and duties of each person over the duration of the term of office. Publish an advertisement, make a visit to the property, respond to potential buyers… The conditions for an agency mandate are numerous.
Exclusive Mandate: Constraints and Benefits
The exclusive mandate, which interests us more particularly, involves entrusting the sale of the property to a single agency . The seller does not have the opportunity to sell the property himself.
Putting your property into an exclusive mandate may seem like a constraint more than an advantageous measure. The seller may feel dispossessed of his good will. Yet the exclusive mandate has many advantages, which are detailed below.
The benefits of an exclusive agency mandate
An agency that offers an exclusive mandate undertakes to sell the property and not to disappoint the owner. In addition, a real estate agent with exclusive mandate knows that the owner has certain requirements . The purpose of the agent will then be to sell the property at all costs, and to satisfy the client with whom the exclusive sales mandate has been concluded.
It is necessary to know that Homes sold in exclusive terms are sold in less than 3 months , an unbeatable average. For comparison, a property sold with a simple mandate is sold on average in 6 months.
Other benefits of the exclusive agency mandate include:
- Real estate is perceived as an exclusivity. A rarity, in short, next to which it is not necessary to pass.
- A real estate also represents a guarantee of credibility: potential buyers are reassured.
- An advertisement of an exclusive mandate does not appear everywhere, which changes the perception of the property by the purchaser (especially over the duration of sale)
- An exclusive mandate has a limited time limit: your real estate agent mobilizes better on your property.
- A real estate agent will be less motivated if he knows that a competitor can potentially get a sale on the same well.
The duration of the exclusive agency mandate
An exclusive term is usually concluded for a period of 3 months and may vary depending on the agency. Its period of validity is compulsorily inscribed on the contract concluded between the agency and the seller. Good to know:
- An exclusive mandate may not be tacitly renewed at the end of the three months provided for in the original contract;
- 3 months are usually sufficient to sell property in an exclusive mandate;
- You may not call on another agency until the end of the exclusive term;
- You are dealing with a single privileged contact and dedicated to the sale of your property;
- Launching on an exclusive mandate brings more satisfaction than disappointment in terms of sales success.
If, however, at the end of an exclusive term of 3 months your property has not been sold, you do not will not be strongpenalized .