The real estate market can be a tricky place to navigate as a home seller. With so many agents and so much competition, it’s tough to know who to trust to get the absolute top dollar for your property. That’s why more and more sellers are turning to exclusive seller representation through real estate mandates.
What is a real estate mandate?
A real estate mandate is a written agreement between a home seller and a real estate agent giving that agent the exclusive right to represent and sell the seller’s property within a defined period. Unlike a traditional listing agreement which allows the seller’s home to be shown by any agent, a mandate restricts showings to only the exclusive agent.
Why do savvy sellers use mandates?
There are several key benefits to listing a property through an exclusive seller mandate rather than an open listing:
- Increased exposure – With an exclusive mandate, you can rest assured knowing your agent will dedicate 100% of their time and resources to marketing and selling your home above all others.
- Better service – Exclusive agents are incentivized to go above and beyond since they don’t have to compete for the listing. You’ll get personalized attention and service.
- Higher sales price – Studies show homes listed on a mandate sell for more on average than comparable open listings. Scarcity and exclusivity drive demand.
- Privacy – Mandates allow the agent to qualify all potential buyers before showings, keeping looky-loos away.
- No conflicts of interest – Open listings create the potential for unethical bait-and-switch tactics. Mandates avoid any split loyalties.
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The bottom line
For homeowners who are serious about getting top dollar in the shortest time with the least hassle, an exclusive real estate mandate is the way to go. The exclusivity creates scarcity and demand, leading to better exposure, service and ultimately sales price. In a crowded market, savvy sellers use mandates to unlock the full power of their listing.
