Why is it better to give a sole mandate to one agent in stead of opening your house to all agents?
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The simple answer is:
If you give a sole mandate to a good agent you make the agent solely responsible to market your property. This commits the real estate agent. And a committed real estate agent is one that knows that he/she will have to earn the commission. Therefore the agent is willing to spend money and effort to market the home.
But when you spread the marketing effort over many real estate agents you get the same effect is when you ask many cooks to prepare an expensive soup for you. You get a bland soup because none will take responsibility for the soup.
As a seller you need to create competition between buyers and not real estate agents. When you give a sole mandate you create a psychological scarcity affect within the pool of buyers. Because now buyers cannot play a best-deal-game against different real estate agents trying to sell the same home.
A real risk, but small, is when you have a open mandate, and you create competition between real estate agents, you can get involved in a double commission issues. This is a well know issue in South Africa and I suggest you make yourself aware of the legal implications of double commissions.
Go for a sole mandate and select your Simon’s Town real estate agent well.
SimonsTownRealty: Sell, Buy A Simon’s Town Property? Phone Today 021-7864028 or 082 870 2004
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