F5. Competitive Mandate

A competitive mandate is effectively an open mandate whereby:

  • All agents may work the property – i.e. not exclusive to one agency or network.
  • The seller typically has a net price and agents add their commission on top of that to obtain a market price.
  • The agent has no obligation to the seller with regards to marketing or advertising the property
  • the seller may sell the property privately.
  • The seller will typically negotiate a lower commission rate with the agent.

There is always potential to convert these mandates into sole mandates provided we have a good competitive advantage.

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