Exclusive mandate or shared / simple mandate: we discuss it again and yet, when it comes to residential real estate, the choice is simple ...
A real estate agent will take much more care of a transaction under an exclusive mandate. Because he does not take the risk of getting involved maybe for nothing, and because he/she will not be distracted by the actions of other agencies with which he is in competition,
he/she focuses entirely on the property and the service it provides.
- Ads are more polished, better written, better documented,
- The marketing strategy is more elaborate,
- The time granted to both parties is much more generous, the seller is informed more clearly, the prospects are better qualified,
- Negotiations with the buyer and the conclusion of the transaction go more smoothly.
First of all, since there is no competition within the framework of an exclusive mandate, the evaluation of your property is more objective. It is not biased by the agent's need to secure a commission at all costs and therefore by their need to position him/herself more advantageously than other agencies by announcing a higher but potentially less realistic selling price.
With an exclusive mandate and an estimate as close as possible to reality, your sale is therefore faster. It is also simpler: a single agent, a single person with whom to share technical data, a single interlocutor with whom to organize visits and negotiations. If the market forces you to revise the marketing strategy applied so far, the single agent can discuss it with the seller and they can quickly decide together on how the marketing campaign will evolve. In the case of a shared mandate, the seller more rarely listens to a single speech that he/she will, in any case, have difficulty imposing on the other agencies.
With an exclusive mandate, your property is better valued; by appearing through a single agency, it is offered in a single and unique way and it becomes rare. Prospects are much more sensitive to exclusive properties that are not found everywhere and on every agent’s portfolio. A property spotted far too often devalues naturally and gives potential buyers a good argument for a price negotiated downwards.
Indeed, we often overlook the image that the type of mandate sends to prospects. An exclusive mandate conveys an image of trust; a shared mandate suggests that the seller is desperate to sell very quickly, at a price negotiated downwards, that he/she is ready to take any offer from anyone and that in the end, he/she has very little respect for the work an agent can do. How can you believe that prospects will be more respectful of the work of an agent when the salesperson does not reflect this image him/herself? Prospects aren't naive, and most importantly, they don't want to be held hostage to an agent battle.
Being a professional real estate agent means respecting a code of ethics and rigorous know-how. You just need to choose the accompanying professional you will feel confident in.
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