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SOLE MANDATE VS OPEN MANDATE

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The advantages of signing a sole vs open mandate

The idea of an open mandate might give you a feeling of having more control over the sale of your property. However this decision can quickly complicate the sale with various agents flashing huge figures and promises. Although tempting, this often results in delaying the sale or overpricing your property. We recommend a relationship with one estate agent to guarantee your success.


Advantages - Sole 

  • You will get a better price by employing a sole real estate agent
  • They put more money and energy into marketing your property
  • Avoids double commission claims
  • Affords the seller more privacy and security
  • Too many agents can cheapen the property
  • Only one for sale sign board outside your property


Disadvantages - Open

  • Less time is spent on marketing the property for sale
  • Higher security risk
  • More disruption of sellers privacy
  • Various sale boards, creating an impression of a desperate seller
  • Bargaining down of price by a buyer dealing with different agents
  • Duplication of buyers and double commission claims

Author: Apex Properties

Submitted 25 Jul 17 / Views 1666

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