Estate Agent’s Sole Mandate Form

Description

ESTATE AGENT’S SOLE MANDATE FORM

Summary An estate agent wanting to get a sole and exclusive mandate from a seller to advertise and market a property for sale may use of a template estate agent’s sole mandate form.

Who should use a Sole Mandate? An estate agent can use an Agent’s Mandate Form to obtain exclusive authority to advertise and market a seller’s property for sale. A sole mandate helps to protect the estate agent against the loss of commission and advertising costs in situations where the seller tries to avoid paying commission, eg. by selling the property directly to a buyer during the sole mandate period, or accepting an offer through a competing agent.

What does the template say? This template Sole Mandate Form for the Sale of Property requires the seller to provide pertinent personal details about both the seller and the property. It also sets out the asking price for the property, as well as the commission payable, and prohibits a seller from appointing any other estate agent to market and sell the property for the duration of the mandate period.

You’re not being appointed on a sole mandate basis? If it’s an open mandate then see our template Agent’s Mandate.

What does the Estate Agent’s Sole Mandate look like? The template mandate agreement can be printed onto four pages.

What do you need to do to use this Estate Agent’s Sole and Exclusive Mandate?

• Read the document to ensure that it suits your requirements. Make changes to the mandate as required.
• Complete all details, such as Seller’s details, property details, asking price, and commission.
• Give the form to the Seller to complete and sign.

Also viewed: Sub-Agent Authority

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