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Selling Property & Transfer Readiness
Article 30 of 74

Open mandate or sole mandate? Understand the difference.

A mandate authorises a property practitioner to market or negotiate in relation to the property. A sole mandate restricts the client from giving the same mandate to another practitioner during the agreed period.

Insights›Selling Property & Transfer Readiness
PROPERTY INSIGHT 30 Open mandate or sole mandate? Understand the difference.

What to know

  • A sole mandate and any extension must be in writing and signed.
  • The expiry date must be stated as a calendar date.
  • The practitioner should explain the consequences of selling or letting through someone else during the mandate.
  • The marketing obligations being undertaken should be clear.
Professional advice

This guidance is general information. Where legal, tax, structural, compliance or regulated-work consequences may apply, obtain advice from an appropriately qualified professional for your circumstances.

Research anchorProperty Practitioners Regulations, code of conduct, regulation 34.3.1.
Important Information

The information in Fabulous Homes Insights is provided for general property education and information. Property, tax, finance, sectional-title, rental, municipal and compliance matters can differ according to individual circumstances, contractual terms, scheme rules, municipal requirements and changes in law. Where necessary, readers should obtain advice from an appropriate attorney, conveyancer, tax practitioner, financial professional, property practitioner, engineer, inspector or other suitably qualified professional.

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