D5. Mandates

  1. General

All signed mandates are the sole property of GOLDEN HOMES. No agent may see their mandate as being theirs exclusively. No agent may further withhold any information pertaining to their mandates.

(see further conditions in the employment contract and commission policy)

Agents are required to check the validity of the parties signing the contract and to ensure that all FICA documents are obtained. If the property is a deceased estate or held by a trust, a copy of the resolution giving the party the authority to sign on behalf of the trust/estate must be obtained as well.

If an agent opts to work an ‘open mandate’ the agent is to ensure that they have permission from the owner to advertise his property at an agreed price.

At all times is the agent to ensure that he/she is working in the best interests of the SELLER. E.g. to not hold a seller to a sole mandate if the property is not selling – rather multi-list it.

All mandates are to be saved on the network together with a detailed listing sheet, which MUST include any knows defects, all fixtures, contact details, etc. together with good quality photographs. No agent within Golden Homes Benoni may be ‘excluded’ from working a sole mandate.

The Agent is to make sure that the mandate has been explained in detail to the Seller, specifically any clauses that bind the seller during and after the mandate period – under no circumstances may the agent make any misrepresentation to the seller with regards to the validity of the mandate, conditions therein, marketing obligations, etc.

The agent must always enquire from the Seller if he has any serious potential buyers before the mandate is signed – these buyers must be specified in detail and excluded from the mandate.

At all times is the Agent to ensure that he/she is protecting the Seller from a potential double commission claim.

Boards in the marketplace are to reflect the image of the company! Check your boards regularly and ensure that they look good at all times.

  • All local municipal by-laws must be adhered to at all times!

 

  1. Multi Listing

All of the above conditions apply to multi-listing mandates as well as all the rules under the RNS Code of Conduct.

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