Why do we recommend a sole mandate?
For the past 10 years, especially in the Johannesburg area, this type of marketing has given the best results to sellers.
When you give a sole mandate you are making one agent accountable for the selling of your home.
You only have to deal with that agent who will work closely with you to get the best price for your home with the least hassle.
The agent will come to know you and your property well. He or she will understand all the important features of your home and know what type of buyers are most likely to be interested in it.
Your agent will develop a good understanding of when best it suits you to market your property. You are not at risk of having to pay double commission and have more privacy, control and security.
Far greater effort and expense will be given to newspaper advertising, internet marketing and promotion, ensuring that your property gets the exposure it deserves without becoming overexposed.
When you opt for open mandates you may be opening the net wider but that comes with its disadvantages.
You have to deal with a number of agents coming into your home many of whom will bring buyers that aren’t suitable.
There isn’t the same opportunity to build a relationship and invariably the agent will be more focused on the sale and less on you, the person that is paying their fee.
Your property is advertised by a number of different agents. You have no control over the quality of advertising and it can create the perception that there is something wrong with your property or that you are a desperate seller - so many agents are advertising your home but nobody is buying it.
If there are two agents involved in the sale, is either accountable or do they blame each other if something goes wrong?
The perceived notion of selling privately is that there will be more money in your pocket in the end, but this is more than often not the case.
Most sellers are not strong on negotiating the highest price for their own home. A buyer will always try to bring the price down.
Private sellers have no existing client base to draw on and no understanding of current market conditions.
Private sellers have no experience in qualifying buyers, in showing properties, hosting show houses or advertising properties.
They have little to no knowledge of presenting or drawing up an offer or of the pitfalls that can arise, neither do they have a solid understanding of transfer costs and procedures.