Real Estate Mandates: Everything You Should Know

What is a Mandate in Real Estate?

• Described as the agreement    between the property owner    and real estate agent. • Outlines the property    sale/lease terms • Empowers the agent to act    on behalf of the owner    to lease/sell the property

Types of Mandates in Real Estate Mainly two types of Mandates in Real Estate

• Open Mandate: Where the    agreement is open to    multiple real estate agents  • Exclusive Mandate:    Agreement for a single real    estate agent/agency

Benefits of Open Mandate

• Open mandate leads    to broader range of clients. • More competition among the    agents. • High chances of closing    deals early.

Advantages of Exclusive Mandates

• Focused marketing efforts. • More control over the    sale/lease process • Impactful exposure to    potential buyers • Personalized service &    support