Questions to ask about a sole mandate
BEFORE offering an estate agent a sole mandate to sell your property, you should ask them the following questions, says Kevin Wearing, principal of Leapfrog Property Group Gordons Bay:
1. Are they based in the area (do they have an office there, do they specialise in the area)?
2. What are their qualifications?
3. Most importantly, can they provide the seller with a list of properties they’ve sold in the area?
“An area expert will be able to show they’ve been working in the neighbourhood and have successfully sold property there. Naturally, this won’t apply to new agents, but in the case of an established agent this should be provided.
“In the case of a new agent, sellers can ask for a layout of how the property will be marketed (the agent should provide a written marketing plan), and what sort of support the agent will get from his or her franchise,” advises Wearing. A qualified, professional estate agent can provide invaluable guidance throughout the sales process, ensuring there are no problems with the transaction. Their knowledge of the local property market and their marketing expertise and experience in navigating the complex legal and financial processes involved, make them an essential part of the sale.