Sole mandates, the proven route to success.
Category Advice
Although there will always be estate agents who contest this, it is widely accepted amongst the most successful agents that if the seller wants the best possible deal, he should agree to appoint his agent on a sole mandate basis and ensure there are no misunderstandings.
"Sole mandates," says Rowan Alexander, Director of Alexander Swart Properties, "have to be written (i.e. typed), signed by the seller, have a recorded expiry date. It is of utmost importance that the agent works through and explains the sole mandate to the seller - especially with regards to the consequences of the seller selling his property without the involvement of his agent, or against the agreement, via another agent."
"Most successful agencies," says Alexander, "can produce figures showing just how successful they have been when operating on a sole mandate. At Alexander Swart Property, using only sole mandates, we sold 39 properties in January this year, at a time when other agencies where just getting started after the holiday break."
The plain truth, which those opposed to sole mandates refuse to recognize, says Alexander, is that where the agent is fickle and in practice, should be working solely for the seller once there is an open narrative, he will feel compelled to get buyers' offers in as fast as possible so as to pre-empt his rivals. This in reality means that he is now working for the buyer.
Working on a sole mandate basis, the agent can, says Alexander, afford to take the time to garner other offers and/or to negotiate with the buyer to obtain a better price. Equally important, knowing his mandate is secure, he will spend much more time, effort and advertising money on the sale and will ensure that the seller's privacy and security are respected.
"After more than 50 years in the marketing of residential property, our management team is more than ever convinced, that using sole mandates is a truly effective method of selling a property. I can also show that the higher commissions usually charged are more than compensated for by the higher prices achieved."
Author: Independent Authour
