Serious seller in a buyer’s market? Get the upper hand with a sole mandate
PUBLISHED 12 MAR 2021
It’s no secret that the market for Cape Town homes has seen buyers cash in significantly over the last few years - but there’s a strategy sellers can rely on to help ensure that their property still fetches a fair and desirable price in a buyers’ market.
With record-low interest rates and signs of recovery in the economy in 2021, now could be the best time to put your house on the market - and a sole mandate could help you get it sold quicker at a fair price.
Teaming up with a motivated agent for great results
Signing a sole mandate with a single estate agency means you’ll have a partner on hand to market your home, negotiate with prospective buyers and improve your chances of a successful sale.
This is in strong contrast to an open mandate whereby multiple agencies vie with each other to sell your home.
While this competitive approach may sound efficient, it often results in several disadvantages. These include:
Less motivation on the agent’s part
Agents having to split their commission or even dispute claims from other agencies in court
Delays in closing the deal because of competing offers that may not materialise in the end
The benefits of a sole mandate
A sole mandate is a more structured approach that offers several distinct advantages for sellers:
A focused, dedicated agent with a strong incentive to close the deal
A specified time frame within which a sale must be made - after it elapses the mandate expires and you’re free to appoint a different agent if you so choose
A higher likelihood of a successful sale (based on our experience of the market)
In the current Cape Town property market, a sole mandate could make the difference between getting the price you know your home is worth and ending up with a rushed sale.
If you’re planning to sell your home in the Mother City, we’d love the opportunity to market your property and match you with an ideal buyer. Contact us today to discuss your requirements as a seller.
Image credit: https://pixabay.com/illustrations/house-for-sale-banking-building-2845213/