Which mandate should I choose?
There are various ways of conducting the sale of your property under the French system. We will always discuss your goals for the sale from day one, and advise you on the best mandate to pick for your circumstances.
We have listed the four different types of property sale mandate below:
- Simple Mandate – The simple mandate allows for multiple professionals, agencies, and the homeowners themselves to conduct the sale of the property.
- Exclusive Mandate – The exclusive mandate entrusts a single professional or agency with the sale of the property. This type of mandate also allows the homeowners to sell providing they pay the agreed amount of commission to the agency.
- Co-exclusive Mandate – The co-exclusive mandate entrusts a limited number of professionals or agencies and with the sale of property. This type of mandate commits the owners to the sale through one of the co-exclusive agents or compensate for an agreed amount of commission. The remuneration is shared between both agencies no matter which one completes the sale.
- Semi-exclusive Mandate – The semi-exclusive mandate entrusts a single professional or agency with the sale of the property. Unlike an exclusive mandate, the owner retains the right to sell the property himself (or herself). In this case, according to the stipulations outlined in the agreement, the fees may be due in part if the professional or agency completes the sale. In the absence of a clause and the seller handles the transaction itself, they are not liable to pay any fees or compensation to the agent or agency.
Benefits and Drawbacks.
For the most part, our clients go with either an exclusive or a simple mandate for the sole reason it is the most practical. If you selling remotely from abroad the last thing you want is multiple agencies or agents calling to arrange times or inquire about lost keys. If you are renting your property, it puts an added strain on the tenant. A lot of our vendors are previous rental clients of ours. Working with one sole agent allows them to rent their apartments and continue to take revenue while looking for a buyer.