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Exclusive Mediation Agreement

Everything you need to know!

Exclusive Mediation Agreement

Unlike a regular agreement that allows you to enter into contracts with multiple agencies and agents, an exclusive mediation agreement means that you have chosen to work with only one agency or agent who will act as the intermediary between you and the buyer, as well as other agents. This agreement ensures that only one agency handles transactions related to the property, and you are obligated to pay that agency a commission regardless of where the buyer comes from.

The following question arises: Why would you choose this when you can offer your property to all agencies and pay a commission to the one who brings you the buyer?

There are several reasons why it is better to decide to work with just one agency and agent. The key is to select the right professionals who understand the intricacies of the business and can provide advice and assessments on how to approach the sale. With one agent, the property owner can achieve better coordination of marketing and sales activities. The agent will dedicate attention to it, promote it on real estate portals, and on platforms such as Facebook, Instagram, and TikTok, which increases the chances of a quicker sale. The agent will also review and prepare the full documentation for your property, addressing any potential legal issues before a buyer shows interest, ensuring everything is ready when the buyer expresses a clear intention to purchase your property. This can only be achieved by working with an agent who will fully commit to your sale. Every buyer needs sufficient and accurate information about the property before visiting, and the agent can ensure that these details are provided, even over the phone, only if they exclusively represent the seller. Another crucial aspect is that when selecting only one agent, the seller’s privacy is guaranteed, and viewings are scheduled only at times that are convenient for the seller. This type of agreement has proven to be a much better, safer, and more effective way to sell your property.

If you decide to sign an exclusive representation agreement, please keep in mind that:

  • As the property owner, you are committing not to hire other agencies or agents for mediation during the term of the agreement.
  • The contract typically has a clearly defined time frame, which may range from several months to several years, depending on the agreement.
  • The contract defines the commission rate that the agency will receive in case of a sale. This is often a percentage of the sale/achieved price.
  • The agent is required to present all offers received to the property owner, as well as inform them of any relevant activities related to the property.
  • The contract should also include the agent's obligations regarding property marketing, including promotional strategies, advertising, and other activities the agent should undertake.

Based on years of experience and work in the real estate market, PROSTOR agency recommends this type of agreement to property owners who want to ensure an efficient and professional sale of their property. Our agents will gladly respond and ensure that all aspects of the agreement are clearly defined and aligned with your needs.

Ena-Lemana S.