To ensure the success of any real estate transaction, you need to prepare a document called a “mandat immobilier” (real estate mandate). This clause contains several items of information, but above all it defines the fees received and the services provided by the real estate agency. So how does the real estate mandate work?
The different types of real estate mandates
In principle, you can choose between a simple or exclusive mandate when drawing up a real estate contract. However, you can also find other forms of contract, such as the co-exclusive or semi-exclusive mandate. If you want to give the trader more freedom, we recommend choosing the simple mandate. As for the exclusive mandate, this is a more restrictive contract, since the seller can only rely on his agency or network to sell the property.
On the other hand, a mandate is said to be co-exclusive when the agreement authorizes the service provider to contact other agencies that are known in advance. Finally, the semi-exclusive mandate allows you to contact a single professional and find a buyer on your own. In other words, the real estate mandate is a clause that stipulates the commitment of the owner and the real estate agency.
Information to be included in the document
Whatever form of real estate mandate you choose, this document must always include a certain amount of information. Without this data, it has no value in the eyes of the law. The first element to be indicated is the identity of the principal and agent. In general, you’ll need to write down the contact details of the owner(s), the agency’s RCS number, its corporate name and its business card number.
After the identity of the two parties, there is the designation of the property concerned. To do this, the address of the home must appear in the clause. In order for the document to be legal, the mandatary and the mandatary must agree on :
- service provider’s fees ;
- the price of the property ;
- contract conditions (duration, termination, payment method, etc.).
The importance of the real estate mandate
In the real estate sector, a mandate is essential if you are thinking of asking a company to help you sell, buy or rent a property. Once the surveyor has completed his work, the owner must pay him a pre-determined commission. In a way, this contract ensures commitment between the two parties. In the event of non-compliance with the terms of the contract, the real estate mandate will be defined as tangible proof.
Although the sale mandate is the best-known, there are other mandates that vary according to the agency’s activity. If you need to find a property, for example, you need to draw up a search mandate. To rent a house at short notice, you can call in a specialist and draw up a rental mandate.
When you entrust the sale of a home or plot of land to an agency, it is compulsory to set up a real estate mandate. Thanks to this document, both parties – the service provider and the owner – are bound by a bilateral contract. As a result, you are obliged to pay the professional’s fees, while they must respect their mission.