Real Estate Blog

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19 March 2021

The exclusive mandate: a sale with full confidence

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When we sell real estate, we can either sell it ourselves, or go through one or many estate agencies.

If the seller chooses to entrust it to many agencies, that’s called a simple mandate. Conversely, if they choose to go through a single agency, that would then be an exclusive mandate . In this case, the chosen agency will define a time period during which the management of the sale of the property will be exclusive, generally equivalent to three months.

The advantages of an exclusive mandate for the seller

You might think that selling your property through many agencies would necessarily be the best solution, but in reality, it could be the reverse in some cases. Statistically, in entrusting your property to a single agency with an exclusive mandate, an acquirer for the property will be found faster, namely twice as fast on average.

The main risk you run in going through a large number of agencies is that you’ll see many adverts with different prices and information. The result: your property loses attractiveness and consistency. People online looking for accommodation like what you’re selling won’t be able to tell what’s true and what’s false and will perhaps prefer to go elsewhere. Also, these adverts may have different prices of sometimes one thousand to tens of thousands of euros. This no doubt means that some estimations were not carried out correctly, or even that some agencies are going for speed of sale rather than quality. It’s a question of choice and priorities, but in the majority of sales, adopting this kind of strategy generally leaves the seller with less than what it’s really worth.

Moreover, an estate agent with an exclusive mandate will be able to fully devote themselves to promoting and communicating about your property. They won’t feel the need to sell it quickly rather than “well” out of fear that a colleague will before them. The estate agent will therefore be able to estimate as accurately as possible the value of your property and invest more in promoting your property: the realisation of a virtual visit, professional photos, home staging, 3D modelling, communication on social media and property advertising sites etc. All these things can really be a plus to the perception of your property and generate more likes which will contribute to more offers that are closer to the true value of your property.

Are you looking for an estate agent to entrust the sale of your property to either with a simple or an exclusive mandate? Find your agent at Immotop.lu professional directory.