Buying

SOLE MANDATE HELPS YOU SELL IN CURRENT BUYER’S MARKET

Signing a sole mandate is an advantage, to ensure that their property gets the maximum attention it deserves.
author
Author
Kayla Ferguson
Contributors
2 min read
28 Aug 2024
Updated
03 Aug 2020
Published
Share
SOLE MANDATE HELPS YOU SELL IN CURRENT BUYER’S MARKET

In a buyer’s market, sellers will need to utilize any advantage they can find so that their home stands out among the crowd. One such advantage is signing a sole mandate to ensure that their property gets the maximum attention it deserves. 

According to Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, many sellers falsely believe that if they let multiple agencies market their home, they will increase their reach to potential buyers which will enable them to sell quicker. The truth is that it is often far more effective to sign a sole mandate and allow one agent the space to secure the best sale.

“A sole mandate is an exclusive contract that stipulates an allotted timeframe during which a seller may not appoint another agent to market his or her property. This ensures that the agent will put maximum effort into fulfilling the goals that have been set within the contract. If an agent is working on an open mandate, however, they may be less inclined to spend as much time marketing the property, which will reduce your home’s chances of selling. This is worsened during a buyer’s market when agents have even more listings vying for their attention than usual, which means that your home may get even less of their time unless you have signed a sole mandate,” Goslett explains. 

In an open mandate, there will be multiple agents, from a variety of agencies, who will be marketing and trying to sell your property. “This opens the potential for confusion as to which agent was the effective cause of the successful sale which increases the chance of a possible double commission claim,” Goslett cautions.

Logistically, a sole mandate is also a safer option while the threat of COVID-19 still exists because you will only have to liaise and deal with one agent, not several. “This simplifies the process, with far less time spent coordinating your schedule with the various agents and their buyers. It is also better from a safety perspective, as only one agent will have access to your property,” says Goslett.

While some might be inclined to think that signing a sole mandate is restricting, it is an opportunity to make the process of selling simpler and is the best way to motivate an agent to give the home their undivided attention. “Especially within these challenging market conditions, signing a sole mandate with an experienced real estate practitioner from your nearest RE/MAX Office will provide those who are looking to sell your home with the best chance of securing a timeous sale for as close to full value as possible,” Goslett concludes.

author
Author
Kayla Ferguson
Marketing & Communications Manager
Related Content
a guide for buying a repossessed property in south africa
Buying

A Guide for Buying a Repossessed Property in South Africa

06 Aug 2025
5 min read
Repossessed properties are often sold well below market value, and can be an attractive option for investors and first-time buyers. In this guide, we explore what reposse
dealing with defects when buying a home
Buying

DEALING WITH DEFECTS WHEN BUYING A HOME

31 Jul 2025
2 min read
To help you know how to go about dealing with defects when buying a home, here are a few tips to help you better understand your rights…
an offer you can't refuse
Buying

An Offer You Can't Refuse

16 Apr 2025
4 min read
Once you’ve found the home that feels just right, the next exciting step is putting pen to paper and making an offer to purchase (OTP).