When you get ready to sell your home for the first time, you might be faced with whether you want to sell your home with a sole or open mandate
A sole mandate is a written agreement giving one agency exclusive rights to market and sell your property. The agreement should include the length of time that the mandate is granted for, the selling price, the commission rate, and any other terms and conditions.
As a seller, you can appoint another agent once the sole mandate has lapsed.
An open mandate allows a home to be marketed by more than one agency or estate agent at a time. When you opt for an open mandate the estate agent that closes the deal is the agent that receives the commission. While you do not need to have an open mandate in writing, it is still recommended so that everyone involved is in agreement.