Exclusive Mandates and why they're a big advantage

While it's not always the case, when a homeowner decides to sell their property through an experienced real estate agent or now termed property practitioner (PP), they usually sign what is called an exclusive mandate. An exclusive mandate is always a written agreement between a property practitioner and the home seller which stipulates clearly defined terms and conditions for that sale.

Granting an exclusive mandate to an experienced and qualified property practitioner is considered the most effective course for selling real estate in almost every case. An exclusive mandate also means that your home is under the exclusive sales prerogative of a singular property practitioner which means they are accountable to you as their client.

Throughout this piece, we take a closer look at what benefits can be attained through utilising this effective sales strategy.

Accountability

In discussions about ethics, having an accountable property practitioner that serves their client impeccably helps to form a valuable working relationship between the two. In essence, the property practitioner is solely responsible for ensuring that a marketable transaction is reached to the benefit of the seller.

Essentially, an exclusive mandate ensures that a property practitioner has their client's best interests at heart when handling negotiations, introducing buyers, and all other vital aspects which relate to selling real estate.

Full attention to a single client

A property practitioner with an exclusive mandate will devote their full attention to selling your home in an efficient process which is beneficial to the buyer. They also understand that there is a time frame that they need to stick to. Should a property practitioner fail to sell within the agreed period they risk losing that mandate. Ultimately a poor reflection on them that they work tirelessly to avoid.

Exclusive mandates ensure that agents are fully focused on a handful of properties as opposed to juggling as many sales as they can - limiting their attention in the process. This means that they will devote most of their advertising resources (at least three to four times the money spent) on their exclusive mandates as opposed to shared ones.

No springboarding or double commissions

A shared or open mandate often means an increased likelihood of complications in shared commission structures which often result in a dispute over who gets the bigger split. In some cases, property practitioners from multiple agencies may bring in the same buyer and lay claim to a commission structure, forcing the seller to pay double commission. This can be avoided by signing an exclusive mandate.

In other cases, some unethical property practitioners may use your property listing as a springboard for some of their more preferred listings. In these cases, buyers may be diverted away from all their open listings towards their existing exclusive mandates. This is an occurrence that happens more often than you would think.

A collection of genuine potential buyers

Pre-qualified buyers are selected to view your listing and are controlled by the property practitioner. This strategy means that only serious buyers are shown around your home. This removes the inconvenience of having to deal with browsers, window shoppers, and curious neighbours you don't want snooping around your home.

Beyond that, pre-qualified and prospective buyers belong to an extensive practitioner database who already fall within the price bracket, within a specific time frame, and within a specific area.

A committed and focused property practitioner

The property practitioner and the practice they represent are focused on offering clients a top-quality service above all else. The added benefit of an exclusive mandate means that both parties will commit time, money, and energy across an extensive array of traditional and digital marketing platforms.

If selling your home at the highest possible price, in a short time frame, and with little complication then the added benefit of signing an exclusive mandate cannot be overstated. At Ikonic Real Estate, our expert property practitioners are committed to ensuring not only a personalised service unique to each client but building mutually beneficial business relationships with clients who are likely to return once they decide to list their property on the market again.

Contact Ikonic Real Estate today

For Real Estate professionals you can trust and rely on for industry-related expertise, contact us below for more information.

If you are looking to live in Silver Lakes Golf and lifestyle Estate, Silver Stream Estate, Lombardy Estate & Health Spa, The Ridge Estate, Six Fountains Estate, or Willow Acres Estate and surrounding areas then Ikonic Real Estate is your preferred property practitioner to assist you in all aspects of the selling and buying process.

Office Number: 083 452 5599

Cell Number: 083 452 5599

Email: martin@ikonic.co.za

Ikonic Real Estate holds a Fidelity Fund Certificate issued by the Property Practitioners Regulatory Authority.