To offer to sell your property, real estate agent MUST make you sign a sale agreement. There are different types of mandates. The most common are: the simple mandate and the exclusive mandate.
The simple mandate (non-exclusive agency sales agreement) has its advantages and disadvantages:
- Among benefits, it allows the owner to seek itself a buyer. It allows the owner to entrust his house or apartment for sale through other real estate agencies. The first professional to sell your property takes the agency fees. The competition between professionals can be severe, which is good in a certain point of view, but it may risk to serve you badly.
- Among the negatives, first comes the multiplication of your offer in different media (internet and newspapers) that can induce the prospective buyer disinterest « Again that house. It is not sold? Why? Is it too expensive? Does it have a default? « . On the other hand, it is clear that if you sign a dozen simple terms, only one professional will lead the sale to an end and will collect the agency commission. The other eleven have spent time and money to spread your offer without being paid. Under these conditions, it is clear that agencies tend to pay attention to their advertising spending for simple mandate.
The exclusive mandate
- With an exclusive sales agreement, real estate agent can work with you in confidence because it is clear that in the period of validity of this mandate, he may incur advertisement costs for your offer and that he will receive fees if your property is sold.
- But be careful before you sign, watch out with this professional the means that he offers to sell your home. The exclusive mandate obliges the professional to invest up in order to meet its obligations of means and results.
With TWISTimmo, simple or exclusive mandate, it is YOUR choice !
Our mandates are made by Tissot printing Company – National publisher specialised in real estate law PARIS – They are regularly updated by Tissot lawyers and have only regulatory clauses.