The mandat de vente is a binding document that must be signed by the owner (principal) and the agent (real estate agent) before the property can be marketed. For a smooth and efficient sale, the exclusive mandate is a strategic solution that allows you to benefit from greater involvement on the part of the agent, greater visibility of the property and specific tools to enhance its value. We take a closer look at this real estate contract, which offers undeniable advantages and benefits for all parties involved.
The exclusive mandate allows you to entrust the sale of your property exclusively to a real estate agency for a specific period of time. It includes information such as the seller’s identity, the estate agent’s contact details, the agent’s fees, a full description of the property, the terms of the deposit, and the duration, terms and conditions of termination. Here are some of the main advantages of an exclusive mandate:
The advantages of the exclusive mandate :
- Agent commitment and motivation: the agent has a greater responsibility to the seller to find a buyer, and is therefore committed to working fully on the sale and devoting all the means at his disposal to achieve it.
- Optimum visibility: by concentrating marketing resources on a single property, this allows greater and better visibility of the property on the market. This includes professional photos, targeted advertising, virtual tours, quality videos…
- Complementary services and customized support: as the sole point of contact, the agent spends more time advising and supporting the seller in preparing the property for sale, notably by suggesting improvements, POP (banners, window displays, signs) or staging(home staging), to increase the property’s value and attractiveness.
- Time savings: the agent takes care of a large part of the marketing, legal and administrative aspects, reducing the time the seller would have spent putting the property up for sale himself.
- Selection of solvent buyers: this is a guarantee of seriousness and security for owners, as buyers are targeted and qualified, so visits are more qualitative.
- Negotiation: buyers are not in a strong position to negotiate the sale price, as they can’t use another channel to compete. This is a strong argument for owners, who are more likely to sell their property at the advertised price.
- Speed of sale: properties with an exclusive mandate generally sell faster than those with a simple mandate, because they attract buyers who are genuinely interested and ready to make an offer. Take, for example, this beautiful apartment in Deauville, exclusive to Mercure Forbes Global Properties Normandie, which sold in 3.5 months, or this charming, fully renovated house in Limoges, which found a buyer in just 3 months.
Exclusive mandate: what’s in it for me?
By opting for an exclusive mandate, the owner undertakes not to sell his property on his own, and cannot go through another professional. They have a single contact with whom they have signed a contract, for the entire duration of the mandate. It is therefore essential to fully understand the terms of the contract before committing to an exclusive real estate mandate.
The exclusive mandate represents a genuine marketing strategy that is part of a win-win commitment. By taking the necessary steps, the real estate agent highlights, promotes and offers the property at its best, with no hidden defects and in a totally objective manner.
In the event that the mandated professional presents a buyer with an offer to purchase a property at the selling price indicated in the mandate, the seller is obliged to accept the offer, unless he/she proceeds with a financial package. Also, in accordance with article 6 of the Hoguet Act of January 2, 1970, the mandate must include compulsory information, such as exclusivity clauses and reporting procedures.
Exclusive sales mandate: terms and conditions
Duration of the exclusive sales mandate
The exclusive mandate is an irrevocable contract, generally fixed at 3 months. After this average period of exclusivity, it can be renewed, generally in one-month increments, once again becoming irrevocable. Since January 2019, the law prohibits tacit renewal of an exclusive mandate. To renew, the owner must make a formal request and stipulate this in the new contract or endorsement.
How can I terminate an exclusive sales mandate before it expires?
It is possible to terminate an exclusive mandate before its term, under certain conditions. There are several possible alternatives:
- Prior mention in the contract: te possible grounds for termination must be expressly listed before signature. If, with the owner’s agreement, the agent has begun to visit properties or receive offers to purchase, the seller can no longer exercise his right of withdrawal.
- 14-day withdrawal period: from the date of signature of the exclusive mandate, the owner has 14 days to withdraw from the sale, free of charge and without penalty.
- Appeal to the courts: as a last resort, if the seller observes serious misconduct on the part of the real estate agent, he or she can request the intervention of a bailiff, who will take charge of establishing the facts.
Is it possible to terminate an exclusive mandate at the end of its term?
Thanks to the Loi Hoguet, this is possible by sending a letter of termination by registered mail with acknowledgement of receipt to the real estate professional, giving 15 days’ notice.
How much does this type of contract cost?
Each agency is free to set its own fees, and reserves the right to choose the criteria to be taken into account. In any case, the price of an exclusive mandate is added to the sale price of the property as a percentage or by tranche. In most cases, real estate professionals offer a regressive rate that remains proportional to the amount of the property sale, with a percentage applied either to the total sum or by tranche.
Why entrust your property exclusively to Mercure Forbes Global Properties?
Since 1936, Mercure Forbes Global Properties has been a specialist in character, charm and prestige properties throughout France, offering the services and skills of experts committed to relevant sales strategies. Our exclusive properties benefit from a genuine short- and medium-term communication plan, and each seller enjoys a privileged relationship of trust with our experts.
Thanks to the Group’s 20 locations, each professional agent can offer every customer a wide range of modern, effective and relevant means of communication. This can take the form of distribution to numerous partners worldwide MayFair, Forbes Global Properties and LeadingRe, a presence in agency windows depending on the degree of confidentiality requested, advertising in the national, international and specialist press, professional shoots, digital content creation(Instagram, Facebook, Linkedin, Youtube)…
Are you looking for trusted agents to handle the exclusive sale of your property? With a nationwide presence, our experts are there to guide you through every step of the process and provide you with the expertise you need. They analyze your project, draw up a detailed appraisal and provide you with legal and administrative support. You benefit from personalized follow-up, and every visit is scrupulously organized to attract only qualified buyers. Trust in the expertise of our professionals and contact them for a worry-free sale.
