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Property Terms Defined - Mandates

WHAT IS A MANDATE?


A mandate means written authority given by a seller to areal estate agency, in order to instruct them officially to sell their property.There are a few different types of mandates and we explain the four most commonly used ones here below:


  • OPEN MANDATE: Any agency may market and sell your property on a first come, first serve basis.


  • DUAL MANDATE: Only 2 agencies are allowed to market and sell your property.


  • SHARED MANDATE: More than 2 agencies are allowed to market and sell your property exclusively.


  • EXCLUSIVE MANDATE: One agency has the exclusive rights to the marketing and selling of your property.

Real estate in Cape Town - Property Mandate Negotiations.jpg

Engel & Völkers

Atlantic Seaboard
375 Main Road, Sea Point
8005 Cape Town
South Africa
Phone
+27 (0)21 434 4460

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