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Sole Exclusive Mandate - Agent
Property Law
- Exclusive Marketing Rights: The agreement grants a single agency the sole authority to market and sell the property, prohibiting the seller from appointing other agents or selling the property personally during the mandate period.
- Performance-Based Commission: Commission is earned upon the fulfillment of all suspensive conditions in a sale agreement and is paid directly from the sale proceeds upon registration of transfer.
- Mandatory Property Disclosure: The seller is required to complete a formal condition report disclosing all known defects, ensuring transparency and compliance with the Property Practitioners Act.
- Post-Expiry Protection: The agency remains entitled to commission if the property is sold after the mandate expires to a purchaser who was originally introduced by the agency during the mandate period.
- Marketing and Access Rights: The agency is authorized to display advertising boards on the property and must be granted access for viewings by prospective purchasers at all reasonable times.
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