What is an exclusive mandate?
An exclusive sales mandate grants the right to sell the property to a single estate agent chosen by the owner.
With an exclusive mandate, the owner no longer has the option of selling the property himself. The real estate agent will be responsible for the entire sale process.
What are the advantages and disadvantages of the exclusive mandate?
The exclusive mandate assures the seller that the real estate agent in charge of the sale will do everything to sell the property within the given timeframe, thus considerably reducing the sale time. In addition, the property will only be offered for sale by one person, which confers a feeling of exclusivity that significantly reduces the negotiation margin of potential buyers.
The only disadvantage is that the commission is due to the agency even if the buyer is a relative of the seller. Therefore, we recommend that you ask around before signing an exclusive mandate so that you don't end up in this situation.
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Kevin Golub
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Client and user support
- (+41) 43 588 32 53
- [email protected]
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