A sole and exclusive mandate with a reputable agency unlocks a number of key benefits for you as the seller.
- Deal with a single point of contact: Instead of opening your property to multiple agents, you will place your trust in a single professional agency. This reduces security and COVID-19 risks, potential damage to your property, and is, overall, much less of a hassle. Access to buyers to view your property is granted to qualified buyers only (not time wasters or criminally minded people) and the access is controlled and structured, resulting in a relationship of trust and accountability between you and the agent.
- Maximum hit rate: A common misconception amongst sellers is that employing more agents creates more buyers for your property. The truth is that at any one time there are a set number of buyers looking to buy a property in your price range and in your area, so employing more agents does not increase the number of buyers. What you should rather do is focus on ensuring that the agency you choose is visible enough to attract this set number of buyers to your property and once introduced, to have the confidence that the agency you have chosen is professional enough to “close” a deal and get your property sold.
- Get the best price: You will find your chosen agent creates competition amongst prospective buyers to get you the best possible price. After all, their commission depends on negotiating a great outcome for your property. Open mandates create competition between agents and therefore you can expect to receive lower and lower offers as the agents try to win over buyers.
- No multiple commission claims: As there is a set number of buyers at any one time for your particular price range in your area, it is not uncommon that different agents will introduce the same buyer to your property, and this may result in different claims for payment of commission against you. This is eliminated by the appointment of one agency to market and sell your home.
- Enjoy top-notch marketing: With a sole and exclusive mandate, your agent is solely responsible for the sale of your property. They are thus incentivised to devote their time and resources to create a killer campaign for your home. They should pull out all the stops on print and digital platforms like their website, property portals, and social media platforms.
- Avoid over-exposing your property: Having multiple agents can make you look desperate to sell or encourage the idea your property is a tough one to sell. It can also cause buyer confusion as to which agency to contact first. Instead, having one agent can inspire exclusivity and create an easy path for an interested buyer.
- Be under no obligation to accept an offer: Open mandates create competition amongst agents instead of buyers. In this case, an agent with a buyer might put pressure on you to accept a lower-than-expected offer – or lose the sale. A dedicated agent will instead try to get the best price within their allocated time frame.
- Estate agent accountability: A RE/MAX Masters Exclusive Mandate is a written, signed and binding agreement between you and RE/MAX Masters. As such, the RE/MAX Estate Agent’s conduct and service delivery to you becomes an actual contractual obligation on them to perform as communicated in order to get your home sold on your acceptable terms and conditions.
An exclusive mandate gives you the agent’s highest level of commitment which can only benefit you as the seller. Without this written agreement, you cannot enforce the same level of accountability.