A SOLE MANDATE means that you have one real estate agent marketing your property whereas an OPEN MANDATE where you have several agents working on it at the same time. Quantity may seem like a better option, but there are several reasons why sellers give their preferred trusted Real Estate Agent a Sole Mandate.
• Quality is better than quantity, as it is easier to manage the selling process with a Sole Mandate, as an Open mandate will have several agents showing the same clients your property, on different days which is time-consuming.
• A Sole Mandate will ensure that you will not run the risk of having a double commission claim when you sell.
• Buyers get nervous when too many agents are working on the same property, as some will assume that there is something adverse with the property.
• Your Sole Mandated Agent will work harder with a higher advertising budget, to ensure that they sell your house before the mandate expires.
• Price versus speed. When multiple agents are marketing the property they are working against time, as they want to find a buyer before the other agents, which means they will accept, present and push the first offer they receive, versus waiting and negotiating for a better price.
At Select a Bond we only work with the best and most reliable Real Estate Agents in the market, so if you are not sure who to use, then please feel free to contact us for a quality recommendation in your area.
Martin 082 447 3463 or
Shannon (in the Western Cape) 084 701 2865