What is a mandate and are there different types?

A mandate is a written agreement between the seller and the estate agent to market the property. A sole mandate means that only one estate agent has permission to do so. A joint mandate means that two or more agencies have this permission; however, it is limited to them only. An open mandate (similar to a joint mandate) means that the property is being marketed by more than one estate agent, the number of agents appointed to market and sell will not being limited.

Whichever option is decided upon, be sure to have a written and signed mandate, as opposed to a verbal agreement.

Benefits of a sole mandate

Sellers should consider the agencies based in their area and assess which agency they would like to appoint based on criteria such as:

Credibility of agency; knowledge of area; success rate in achieving sales; presentability and professionalism of agent and or agency as well as legal status of agents and agencies (very often overlooked).

For more advice about selling your property contact us at info@waleedras.co.za or call 083 300 7866 or 083 3093274