What is a sales mandate ? What is it used for ?
When one decides to go through a real estate agency to put a property for sale, a document is signed between the seller and the professional to whom he entrusts the sale of his property. This is a sales mandate. It must mention the duration of the mandate, the sale price of the property, the amount of fees to be paid if the sale is concluded, and the conditions of termination.
Exclusive mandate, semi-exclusive mandate and simple mandate
There are several types of real estate sales mandates : the exclusive mandate, the semi-exclusive mandate and the simple mandate. The first commits the seller not to go through another agency to sell his property. The simple mandate of sale gives him the opportunity to appeal to several agencies but also to find a buyer by his own means, through the sites of classifieds between individuals for example.
The semi-exclusive sales mandate allows the seller to conclude the sale himself, but not to go through another professional. In this case, the agency still earns a commission of less than the amount it would have received if it had itself found the buyer.
At first glance, one might tend to imagine that it is better to choose several professionals to increase one's chances of selling one's property quickly. The vast majority of sellers choose to sign a simple mandate. But in reality, this type of contract is not always the one that allows you to sell the quickest. A home offered for sale under a single mandate is generally sold less quickly than a property offered for sale under an exclusive mandate. The fact of entrusting one's property to several agencies can also create confusion with potential buyers, especially when the price differs from one agency to another.
The benefits of the exclusive mandate
A real estate agent with an exclusive sales mandate is often more involved in the sale of the property entrusted to him than when he is put in competition with other agencies and therefore does not have the assurance of the closing sale. He then undertakes to use all the means at his disposal to promote it, from the sale sign to the classified ads published online and in the local newspapers.
A sales mandate, whether exclusive or not, is signed for a limited period of time. If the property is not sold during this period, it becomes void and the seller may decide to go through one or more other agencies to put his home on sale.
Sales mandate: what commission for the real estate agent ?
The fees of real estate agents are, unlike those of notaries, not regulated. However, the amount of commission is generally between 3 and 6%, a declining rate most often. Its calculation must be specified in the sales mandate. It can be negotiated between the seller and the real estate agency.
If you wish to put a property on sale in Haute-Savoie (74), do not hesitate to call our team here at the agency De Cordier Real Estate who will do everything possible to quickly find a buyer at the best price.