General Power of Attorney or Exclusive Power of Attorney?

January 8, 2021 5-minute read
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Mandat simple ou mandat exclusif ?

Whether you want to sell or rent a property And if you decide to use the services of a real estate agency, you’ll need to sign a contract with them. You can benefit from the expertise of Century 21 Auteuil Immobilier. Did you know that there are several types of contracts? 

What is a sales mandate?

When you decide to use a real estate agency to sell your property, rent it out, or have it managed, you must sign a power of attorney. The power of attorney is governed by consumer protection laws, notably the Hoguet Act of January 2, 1970.  and its decree of July 20, 1972, which regulates the real estate agent profession. This law requires the signing of a mandate for any transaction conducted through a real estate agency. The agency agreement is a contract that must include certain details: the term of the agreement, the property’s price, the amount of the commission, etc., and each agreement has its own specific terms.

In the case of the sales mandate , this is a contract between the seller (the Principal) and the real estate agency (the Agent) that specifies the property for sale, its sale price, the amount of the real estate agency’s commission, and who will pay it (the seller or the buyer). Payment of the agency’s fees will not be made until the date of the final sale at the notary’s office. Your real estate agent cannot begin marketing your property for sale unless they have a signed mandate.

The power of attorney protects the parties; therefore, it must be signed.

The different types of mandates: simple, exclusive, or discretionary

There are several types of sales agreements. Here are their main characteristics, which can help guide your decision.

The Simple Power of Attorney

The simple sales agreement, or non-exclusive, allows you to entrust the sale of your property to the real estate agencies of your choice. In other words, the sale can be entrusted to multiple agencies at the same time. You also have the option of finding a buyer for your property on your own. However, you’ll be responsible for coordinating all parties involved, scheduling showings, handing over multiple sets of keys, and making yourself available to grant access to your apartment. Be careful, however, that this competition among agencies and buyers does not lead to hasty or opportunistic offers.

The Exclusive or Confidential Mandate

The exclusive sales agreement, such as As the name suggests, this involves entrusting the sale of your property to a single agency. The real estate agency you choose will therefore have the exclusive right to find a buyer for you. You will not be able to entrust the assignment to another agency or find a buyer on your own without going through the agency you’ve appointed. The mandate is signed for a mutually agreed-upon period, most often for a minimum of 3 months (beginning on the date the exclusive contract is signed). This 3-month period may be renewable.

Entrusting your property to a single real estate agency ensures efficiency for the seller, offering near-certainty of a quick sale. 

The vote of confidence is a specific CENTURY 21 contract that includes a performance guarantee and a number of tangible benefits.

Every project is unique, and we can tailor our scope of work to ensure we collaborate under the best possible conditions. It is designed to offer you more services and guarantees. 

We’ll handle all the administrative formalities related to the sale for you. We cover the following: property inspections, the mortgage status report, the documents required under the ALUR Law (except for the dated preliminary report), a professional photo shoot, the preparation of a floor plan, and a cost estimate for any necessary repairs.

You grant us exclusive rights to sell your apartment, but you retain the option to sell it directly and find a buyer on your own, provided that you introduce the buyer to us. In that case, the commission owed to the agent will be lower.

How do you choose the right type of sales agreement?

Choosing the type of real estate listing for the sale of your property depends largely on you and how you wish to manage the sales project. Would you like to handle the real estate transaction on your own, while increasing your chances of selling by working with multiple agencies? Or would you prefer to entrust the entire sales process to a trusted real estate agency?

Thus, an open listing allows you to choose multiple agencies. On the other hand, the real estate agencies you hire will likely be less committed to your project, since they know there are several others working on it. They won’t be able to invest as many resources as they would like. As a result, your property’s visibility will be minimal.

On the other hand, an exclusive or “trust” listing commits you to selling your property through a single agency. But if you’ve chosen an effective agency, you can be sure of its total commitment and a optimal visibility to present your property in the best possible light to potential buyers. You can then entrust the sale to us with complete peace of mind. 

Important to know: Regardless of the type of real estate listing agreement, you may not independently finalize the sale of your property with a buyer introduced by one of your authorized agencies. This remains true even after the listing agreement has expired.

What matters most—beyond the type of sales agreement—is the effectiveness of the agencies handling the sale, which makes all the difference between a long sales process and a quick sale at market price.

Are you looking for a real estate agency in Paris's 16th arrondissement to sell or rent your property? We can help. We are CENTURY 21 New Auteuil Immobilier, an efficient agency specializing in the sale and rental of properties in the 16th arrondissement.th district of Paris.

Contact Us effective immediately.

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