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What is the sales mandate?
Real Estate 66

What is the sales mandate?

13 December 2021
You want to market your property in a real estate agency . It's a good idea that will maximize your chances of selling well and quickly. The real estate agent explains to you that you will have to sign a sales mandate. Don't you really know what it is? Don't panic, we'll explain everything to you.

The sales mandate: definition

The Hoguet law of January 2, 1970 designates by “mandate of sale” the bilateral contract which binds the seller and owner of real estate and a real estate agent aiming at the sale of this one. The sales mandate is compulsory and allows the real estate agent appointed as agent to act on behalf of the seller designated as principal.

The sales mandate: a binding contract

This mandate must be dated, signed by the principal and the agent, duly numbered and entered in the register of mandates kept up to date by the real estate agency. When the property is the subject of joint ownership, the sales mandate must specify the identity of all the joint owners and include the signature of each of them! It is generally concluded for a period of one year, without tacit renewal and may be of an exclusive, semi-exclusive or non-exclusive type. The first 3 months constitute a period of irrevocability. At the end of the latter, the seller may at any time terminate the mandate of sale by letter with acknowledgment of receipt. Note, however, that when it is concluded outside the premises of the real estate agency, the seller has a period of 14 days during which he can withdraw. This period begins the day after the date of signature of the sales mandate. The principal must receive a copy of the sales mandate.

Which mentions are obligatory?

To be compliant and therefore valid, a sales mandate must include the following information in accordance with the Hoguet and ALUR laws: - the designation of the seller (natural or legal person); - the designation of the representative agent specifying his professional card number; - the description of the property concerned (address and exhaustive description); - the net seller price (the amount to be returned to the seller); - the amount of the agent's fees (in percentage or in euros); - the duration of the sales mandate and the terms of its renewal until it expires; - the means implemented by the agent to accomplish his mission.

Why contract a sales mandate?

In France, nearly 7 out of 10 real estate sales are made through a real estate agency , that is to say thanks to the signing of a sales mandate! The person-to-person sales channels that exist in the market fall far short of the marketing effectiveness of real estate professionals. Even greater efficiency when you opt for an exclusive mandate. By entrusting exclusivity to the benchmark real estate agency in your sector, you benefit from optimal marketing. The mandate of sale is to be privileged to sell quickly and well. The signing of a sales mandate that formalizes the links between the seller and the real estate agent is an important tool for the successful sale of a property. In addition, the latter does not give rise to any costs. The real estate agent is only remunerated after successful completion of the mission that you have entrusted to him by mandate of sale!
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