Multi-listing Mandate
Advantages:
– Maximum exposure to the market channelled through one agency.
– Property Practitioners work together to the benefit of the seller.
– An open hour exposes the property to the rest of the Property Practitioners in one simple step.
– An open hour gives the seller multiple valuations to establish an unbiased fair market value of the property.
– Possible reduction of market time.
– Property Practitioners usually have an existing buyer base.
Disadvantages:
– The same buyer viewing the property through two different Property Practitioners may result in cancellations or potential double commission claims.
– Disputes between agencies and Property Practitioners.
– Price cutting to secure the quickest deal.
– Unqualified and inexperienced Property Practitioners may have access to the property.
– Property Practitioners frequently have their buyers’ interests at heart and not the sellers’.
– Lesser commission earnings leave Property Practitioners less motivated to find the best deal for the seller.