Let’s Be Frank. Awarding your property as a Sole Agency with us means achieving the highest price in the shortest time for your home. We have over 50 years of experience to back us up and it is no wonder 70% of our sole agency properties sell within 75 days.

Premium & Premium Plus Sole Agency Packages

What is a Sole Mandate or Sole Agency

When you are ready to sell a property you own in Malta, awarding an estate agent a sole mandate or sole agency is the best option. It means signing a legal and binding contract with them. This contract will award the agency the exclusive rights of selling and marketing your home for a certain period of time, at a mutually agreed fee usually referred to as “commission”. This agreement will be valid and binding for a period of weeks or months, as determined/agreed upon between the seller and the agency.

The Open Agency Myth

Many sellers believe that an open listing or awarding the rights to sell a home to multiple agencies is the right thing to do and that it will result in expediting the sale. The exact opposite is true.

Why is this case?

  • Dealing with a multitude of agents from several agencies is complicated. As the seller you have to accommodate many appointments, sometimes on the same day, with strangers invading your home at inconvenient times.
  • You have to hand out several sets of keys to different agents.
  • It is difficult to keep track of progress regarding the marketing of you home.
  • Because commission will be shared, legal issues may arise as to who was responsible for the sale or introduced the buyer, as buyers will shop around for the right property and therefore be listed with several agencies. A sole mandate simplifies this in all ways as the buyer can only make use of one agency to view or buy the property.
  • An open mandate will create the impression that your home is difficult to sell, therefore the multitude of agents representing it.
  • Having a multitude of different branded “For Sale” boards outside a property creates a negative impression.
  • Overexposing your home to the market through several agencies may create the impression that there is something wrong with it.
  • Having a multitude of agencies representing your home will result in it being marketed at a multitude of prices, confusing buyers and creating an impression that a seller may be inconsistent in their decision making and therefore be complicated to deal with.
  • On an open mandate, agents compete against one another and this may compromise getting you the best price as buyers will choose the one that offers the lowest price. With a sole agency the buyers compete against one another on getting the property and best price wins.
  • Having multiple agencies listing a house or property mean less accountability.
  • Sole agency properties receive attention-geared, focused marketing while open mandates are often not high on agents’ lists of priorities since they earn less commission and compete with many other agents for the sale.
  • If an open agency property stays on the market for too long, interest will dwindle and it may be necessary to withdraw it from sale for some months and try again at a later stage. The only last alternative is a drastic, unrealistic price drop which is in no-one’s best interest and will never be advised by us.
  • There are many more negatives to an open listing, all of which can be avoided by selling and marketing your home through awarding a sole agency.

The Win-Win benefits of awarding a Sole Agency

It is in the best interest of the sole agent or agency and the client to determine the best realistic selling price, based on thorough research of recent sales of similar properties in the same area, taking certain unique features of the property within reason, into consideration. Remember, your first offer is usually your best offer!

Sole agencies receive intense, focused, target-driven marketing and exposure and are thus far more likely to sell faster. Open mandates remain on the market for longer due to its complicated legal representation, broad-spectrum marketing and often leads to price reductions in an effort to facilitate a sale after a lengthy period of time. Looking at last year, we have managed to sell 70% of our listings in less than 75 days!

We have two sole agency offerings: ‘Premium Sole Agency’* and ‘Premium Plus Sole Agency’*, the best the local industry has on offer.

A property on sole agency has one clear goal: to get SOLD as fast as possible at the best price. Marketed at a realistic price with which both the SELLER and agent are happy, your property will receive undivided attention for the duration of this mandate. You will receive regular updates and reports on its marketing, all offers will be brought to you upon being received and clear, direct representation is guaranteed by a company with more than half a century of experience in the local market.

We have your best interest at heart, making sure we are updated with the property market’s latest rules and regulations regarding Malta property. This is done through our compliance officers, lawyers and notaries. With us you can rest assured that there will never be any disputes regarding split commissions or who introduced the buyers – which often happens in the case of open mandates/listings.

Sole Agency Packages 2020

If you are thinking of selling your property and want to see which Sole Agency Package is best suited for you, get in touch. If there is one thing for sure, we know how to sell your property best!

50

years of experience

70%

of our sole agency properties

sell within 75 days

100%

marketing focus

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