Why choose a sole agency agreement?

Sole agency: just one estate agent

There is a logical reason why the sole agency agreement is popular with estate agents and sellers: it simplifies the selling process for all parties and it is the only to control the sale. Your estate agent can set up a real communication strategy and promote the property to his/her to all the buyers on the market. You will also avoid the hassle of being over sought by agencies or buyers who have all seen your property ad on the same real estate portal. Having just one agent simplifies the process and saves time.

A more exclusive ad for buyers

Unlike a multiple agreement, where several agencies can market your property, a sole agreement is often synonymous with scarcity and quality. By appearing in unique and targeted ads, you can ensure your property retains its appeal to buyers. And exclusivity in the luxury real estate sector is generally recommended to attract its very demanding clientele.

A limited duration

As with all mandates, an exclusivity offers a limited duration of 3 months, after which you have the option of continuing or terminating the mandate at any time by giving 15 days' notice. During its duration, your estate agent must therefore do his/her utmost to sell property under the conditions and charges stated in the contract and deliver on his key mission for which he/she will receive a commission: to sell as soon as possible and at the best possible price.

A sale that is easier to manage

Having just one trusted contact and industry professional is certainly the best selling strategy. Although with a multiple agreement you can enlist several agencies, and can also sell privately without an agency, it increases the number of touch points and the amount of interaction while trivialising the property! To better control the sale and negotiations, many sellers opt for exclusivity.

Selling for the best price

Ensuring your property retains its exclusive appeal is a way of demonstrating its intrinsic worth, saving you not only time but often also money. This is because a property with a sole agency agreement typically sells for the asking price. The agent’s aim is not to suggest a price to prospective buyers that is in line with the market value.

The choice of professional is up to you and instinct is still a key factor when making a sale of such importance. So, please feel free to contact our Engel & Völkers team of advisers who specialise in luxury real estate; they will be able to advise you on the best sales strategy for your property and guide you through the entire process right up to the exchange of contracts, after securing the best possible price for your property!

Photo by Antoine Rakotozafy on Unsplash