Simple mandate or Exclusive mandate
After receiving your estimate, you have decided to entrust the sale of your property to a real estate agency.
To start marketing you will have to sign a sales mandate and choose the type to favor, do you need it simple or exclusive?
The duration of a mandate
The duration of a real estate mandate is necessarily limited in time, whether it is a simple or exclusive mandate, in no case does it have the function of being perpetual. Whatever it is, simple or exclusive, any mandate must, under penalty of nullity, therefore clearly and precisely indicate its period of validity.
Where the mandate includes a tacit renewal clause, extending the effects of the mandate beyond its expiry date, the duration of this clause must also be specified. While indicating a deadline.
It is possible within the framework of an exclusive mandate, within three months of its signature, to denounce the exclusive mandate. However, taking care to respect the notice period of 15 days, while sending a registered letter to the real estate agent who has been entrusted with the mission of selling your property.
The mandate to "moral exclusivity"
For the sake of flexibility for its owners and the valuation of its clients' property, at A1 Real Estate we offer you an "exclusive moral" mandate, based on efficiency and trust.
That is to say a simple mandate, with moral exclusivity, allowing you to enjoy the freedom of the simple mandate while benefiting from the advantages of the classic exclusivity of all other agencies. In case of dissatisfaction, you will simply have to contact another agency.
The flexibility of the simple mandate
By going through an agency to sell your property with a simple mandate, you offer yourself the opportunity to process your transaction with several real estate professionals. In addition to this , you may allow yourself to deal directly with potential buyers who would not have been introduced to you through the agency.
The dominant advantage is that by opting for a simple mandate you can technically reach a larger number of potential buyers. It is indeed all the agencies entrusted with the simple mandate that will be responsible for finding the buyers. Among these proposed buyers you will have a freedom of size, since not committed exclusively to an agency, you will retain the possibility of selling to the buyer of your choice.
However, the simple mandate has counterparties related to its advantages. Because the property is visible in multiple windows of real estate agencies, this represents a risk that can be penalizing by sending a negative image to potential buyers. They might understand that your property is struggling to sell. Being likely to find a buyer on your own can possibly also dissuade the real estate agent from fully investing in the sale of your property.
In contrast to the point of view of the professional, the individual, during his research, finds your property and realizes that the selling price associated with your property differs depending on the agency or site visited.
This price difference, which can disturb the potential buyer, is directly related to the evaluation made of the property but also the agency's own fees, the selling prices displayed including agency fees included (FAI).
By this constraint it is very strongly advised not to entrust a mandate to agencies close to each other geographically.
The effectiveness of the exclusive mandate
The exclusive mandate represents a more important constraint, however in return it will generally allow a sale of your property that will be more efficient and faster compared to a sale under simple mandate.
Exclusive properties are most often signed in less than 3 months, while for comparison, in the case of a simple mandate, the time between the signing of the mandate and the sale is approximately double, 6 months.
The main reason being that a real estate agent being assigned an exclusive mandate will make every effort to present the property to a maximum of targeted buyers to accelerate the sale.
Opting for an exclusive mandate rather than a simple mandate will therefore allow you to count on a more efficient and motivated real estate agent. From the moment you entrust the sales mandate to a single real estate agent, the mandate takes an exclusive title. Therefore forbidding you from selling directly to another buyer.
When signing an exclusive mandate, it is imperative to specify clearly whether, as a seller, the possibility of looking for a buyer on your own is retained or not. In the context where this possibility is allowed, it will be a semi-exclusive mandate.
The real advantage of the exclusive mandate lies in a high and assured involvement on the part of the real estate agent. The latter doing his utmost to complete the transaction as quickly as possible and at the most attractive price, allowing him to receive, in passing, his commission. The second advantage, remaining not negligible, consists in the valuation of your property by its rarity on the market.
In addition, signing the exclusive mandate to a single agency can give a feeling of loss of control and total freedom over the sale of your property. Some agencies may be criticized for relying on their achievements once the exclusive mandate is signed, instead of rushing to find a buyer.
Allowing to realize the mistake of having bet on the wrong structure, the real estate agency being entrusted with the sale of your property proving less efficient than expected.
As the minimum duration of the exclusive mandate is three months, it would be impossible for you to use another agency or sell to a buyer on your own.
- To start marketing , you will have to sign a sales mandate and choose the type to prefer.
- The duration of a real estate mandate is necessarily limited in time
- Where the mandate includes a tacit renewal clause, extending the effects of the mandate beyond its expiry date, the duration of this clause must also be specified.
- It is possible within the framework of an exclusive mandate, within three months of its signature, to denounce the exclusive mandate. However, taking care to respect the notice period of 15 days, while sending a registered letter to the real estate agent who has been entrusted with the mission of selling your property.
You want to
to sell in Paris or its surroundings ?
Posted on 21/10/2021 by
Andy LECUYER
