4
Clients can be properly screened:
a) A client’s affordability can be checked by
drawing a LUCID Credit Check report.
b) The agent makes the time to doublecheck the client’s affordability, financial
ability, etc. whereas with an open-mandate,
the agent rushes to the table with an offer
which might fall through. This is also done
in order to keep your property out of the
market by giving the agent time to bring a
more favourable offer before the previous
offer expires.
The agent will spend more time and money
1
No lower offers:
The agent doesn’t compete with other
agents to get the property sold.
2
The agent and Agency’s name and
reputation is on the line; if the agent
doesn’t perform, it reflects bad on the
company.
3
Spying agents: Agents who need stock send
family or friends to “view“ properties, and
give them feedback. Nowadays up to 9 out
of 10 “clients” are spies for other agents.
This means that a lot of time, money, and
effort is wasted by allowing these “clients”
to view the property.
5 to market the property, which means it
WILL sell quicker if the price is right. Also, if
more than one agent has the same
property in the market, the agents will most
probably not be inclined to spend as much
money on marketing, as this becomes very
expensive, thereby limiting the seller’s
market exposure.
agents don’t necessarily mean more
6 More
clients:
For example: 3 different agencies have the
same property in the market. Clients view
the properties on the various websites, set
up appointments with these 3 different
agents, and view the same property 3
TIMES! This wastes the seller’s time, as well
as the agent and client’s time.
7
If you have 2 or more agents marketing the
property, the clients viewing it on the
various websites would most probably pick
up on it. Usually this is seen as a seller being
desperate, and translates to lower offers in
the vast majority of cases.
8
One agent might decide to drop the price of
the property by dropping his/her
commission. This automatically reflects
negatively on the other agents marketing
the same property, and they are
immediately branded as “thieves”.
9
The agent will spend more time with clients
who are interested in your property. This
increases the chances of the clients making
an offer on your property.
10
If a client sees that the property is
exclusively marketed by Dic Homes, the
property becomes more appealing to the
client.
11
A sole mandate allows the agent to create
competition amongst clients, which enables
the agent to negotiate the best possible
price for the seller. (Highest offer wins!)
12
An open mandate increases potential
security problems as it’s difficult to track
who is coming through your home – and
who takes responsibility?
13
You avoid double commission claims: An
agent may show a client your property first,
and then the client views the same property
with another agency, and makes an offer. If
the first agent finds out about this, which
he/she most probably will, then he/she
have the right to claim commission from
you, as the first agent is the “effective cause
of sale”, and is entitled to his/her
commission.
14
No overload in viewings: The more the
agents, the more the viewings, which
means you have MUCH less privacy.
15
In an open mandate a client will play agents
off against each other in order to get the
lowest possible price.
16
Having one agent is like having one attorney
or one doctor you consult. It’s better
working with one, isn’t it?
17
Committing to one agent means that the
agent commits to you , before, during, and
after the sale. This is how a relationship is
built.
18
A sole mandate is like a deluxe package,
penthouse suite, business class flying, or a
full house carwash: It’s the best package
you can possibly get!