Page 22 - CemAir SkyNews 12/14-01/15
P. 22
On Trend Property experts Sotheby’s untangle
the principles of Mandates

T he real estate industry is constantly this funky, upbeat friendly environment. mandate could be cancelled. Before
changing. Land and property When it comes to real estate, there are awarding a Sole Mandate, the Seller
values will rise and fall, the market often gaps in the average buyer and seller’s should consider which agencies are the
can run hot and cold; it’s important understanding of industry terminology. most active in their particular area. The
to keep up to date with the latest trends in With this in mind, Sotheby’s Plett agency they choose should have a sound
the real estate world. untangles the basic principles of Sole reputation that offers a marketing plan
With a family pedigree in the industry, Mandates. that is results driven. By awarding a Sole
the Pretorius family in Plettenberg Bay What is a “Sole Mandate”? Mandate to an agency, the Seller is less
knows the market. Having acquired the A Seller must understand that when exposed to the possibility of paying double
Sotheby’s International Realty brand in they sign a Sole Mandate with an agency commission - as might occur with an
2005, their steady growth has enabled the to sell their property, they are agreeing Open Mandate. With an Open Mandate
team to win numerous national awards, to all the terms and conditions contained the same buyer could easily be taken to
including franchise with the highest in the legally binding document. For a the same property, by different agencies,
market share in the group. The three Sole Mandate to be valid it must have a especially in a place like Plett where most
most lavish properties sold in Plett were beginning date and an end date. It must of the Sellers don’t live permanently in
exclusive mandates awarded to Sotheby’s also have an agreed price and agreed their homes.
International Realty. Pretorius says, commission rate. Further to this, there It’s important that the Seller ask
“We pride ourselves on our marketing should be a specific marketing plan all these question prior to signing
material and local knowledge of the attached to the mandate to outline the the mandate and that the terms and
Plett market. The brand has given us agency’s undertaking in terms of the conditions have been clearly explained
access to unrivalled marketing channels. marketing of the property. This would to the Seller. This would also be good
Sotheby’s International Realty is a truly generally include print media, sales sign, practise on Dual and Open Mandates.
international company with offices in 50 internet exposure, show days and other Any changes to a mandate should be
countries with more than 12 000 sales marketing platforms. Should any of in writing and attached to the original
associates globally. We currently hold this information not be contained in the mandate.
over a 100 sole mandates across all price mandate, it is not valid. For more information contact Hein Pretorius
ranges. These properties represent some of By awarding an agency Sole Mandate, owner of Sotheby’s International Realty Plett
the best buys in Plett at present.” the Seller has a commitment from the on +27 (0)83 701 3159 or visit their offices on
Their recently renovated office is agency regarding the marketing to be the corner of Main & Gibb Street in Plett.
testament to the team’s passion and expected. Therefore, the agency can be
successes over the years and they are held accountable should the marketing
very proud to showcase the properties in not take place as agreed upon and the

21 Dec 2014 / Jan 2015 CEMAIR
   17   18   19   20   21   22   23   24   25   26   27