Before we talk about how we will market your house it is important to understand the difference between the different mandates as this will directly affect the way a home will be marketed.
DIFFERENT WAYS TO SELL THE PROPERTY
If the seller is serious about selling their property and want results, then the most effective, and undoubtedly, the most successful method of selling the property, is by marketing it via a SOLE MANDATE.
Even if you don't use Keller Williams, going the route of a sole mandate will always be your most successful option.
With a joint mandate, the Seller gets some of the benefits of a sole mandate but also many of the disadvantages of an open mandate.
If the property is with a few agencies on an open mandate we would probably not not try to market that property for various reasons.
With an Open mandate the seller runs the risk of:
Agents advertise the home at different prices or downgrade the property to Buyers who have seen it with some other Agent. Agents may start using your property as a negative comparison to other properties being marketed in the same/similar price bracket on the sole mandate.
Too many Agents will over expose the property by doing show days every Sunday and will be advertising and pursuing the same Buyers, which may lead to lower offers
Lack of Investment
Agents do not invest time, money and energy on open mandates.
Buyers being shown sole mandate properties first: It’s a fact. An Agent shows potential Buyers his/her sole mandate stock first.
No marketing plan
Agents don’t commit to a marketing plan (especially not a personalised marketing plan) when advertising a property on an open mandate.
Paying double commission
When a property is on the open market, Buyers often get confused with who has shown them a particular property. If a Buyer buys through an agency other than the one who originally introduced him to the property, the Seller stands the risk of having to pay double commission.
Loyalty with Buyer
Agents are incentivised to sell the property before any of the other Agents. They will, therefore, work to secure the sale for their Buyer against the Buyers of the other agents. Essentially, the Seller is paying the Agent to work in the Buyer’s interest, and not in his/her best interest.
Vital information being forgotten by the Seller as he is exposed to numerous Agents with different messages.
No confidentiality as the Seller’s personal information is being shared with anyone. An Agent working on an open mandate has no loyalty to the Seller, he/she is loyal only to conclude a sale before the others, often not in the best interest of the Seller.
No Privacy with total disruption and inconvenience to the Seller when dealing with everyone in the marketplace.