What are the disadvantages of a simple mandate?
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Rudolphe ABEN
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A simple mandate is a type of mandate that you sign with an estate agent to sell your property. Although this type of mandate can offer some advantages, such as lower agency fees, it also has some disadvantages that need to be taken into account.
Reduced visibility
The simple mandate can limit the visibility of your property on the property market. The agent may not devote as many resources to promoting your property as they do not have an exclusive right to sell. This can slow down the sales process and reduce the chances of finding a potential buyer.
Lack of support
With a simple mandate, the agent is not obliged to provide you with full support throughout the sales process. You may have to manage tasks such as preparing sales documentation, coordinating viewings and negotiating terms.
Legal risks
Selling a property can involve complex legal issues. If you opt for a basic mandate, you may have to deal with these challenges without expert assistance.
Lack of market knowledge
Estate agents have in-depth knowledge of the local property market and can help you determine the selling price of your property. If you opt for a simple mandate, you will probably have to research your property yourself to determine a reasonable price.
It is important to weigh up the pros and cons of a simple mandate before making a decision. If you are looking for full support and increased visibility for your property, an exclusive mandate may be more suited to your needs. In any case, it is always best to discuss your options with a qualified estate agent before signing a mandate.