To all owners

What mandate to sign ?!!

          This article is dedicated to all property owners. Based on Hayek Group

experience for 23 years in the Lebanese Real Estate Local Market.

          Shortage of time, ignorance of the complex laws, fear of not being able to properly negotiate until the closing of sale… many landlords feel that this task should be handled by a professional Real Estate Agency, which would be in charge & trusted to perform all the intricate sale operations until the pre-final sale contract in a record time in good faith/peace of mind with a clean deed transfer.

          In order to define the services and the fees between the landlord and Real Estate Agency, a contract should be drafted and signed between both parties.

          Hayek Group provides three options for Sellers as mentioned on our website at: http://www.hayekgroup.com

1 - Standard Authorization: To sell thru different Real Estate Agencies. The landlord might keep the option to sell through his own means and confide the sale to different agencies, this formula will give to the Buyers, the impression that the landlord is squeezed and pressed to sell – or the different agencies will give different motives or prices and disturb the sale process.

          In addition, this competition can be destructive to the landlord himself when two ads are put in different publications, the same photos at different prices.

          This type of authorization does not appeal to professional agencies, thus it creates unfair competition among themselves – and the interested Buyers will become hesitant and displaced.

2 - Exclusive Mandate: One Real Estate Agency has the final word.

          This formula constitutes the opposite of the article one. The advantages of the exclusive mandate are numerous:

          A climate of confidence will be established immediately between the landlord and the professional agency where they can both agree on a selling price in taking into consideration the reality of the current real estate market.

          In addition, the picture put solely in one agency give more value to the property. Also, the agency would be more motivated in its work and rest assured that he will get paid for his services.

3 - Semi – exclusive Mandate: An interesting formula.

          The basic principle is the following:

          The landlord will confide the exclusively of the sale to one Real Estate Agency – but the landlord will retain his possibility to find himself a buyer. In this case, the remuneration of the Real Estate Agency will be reduced to the proportion agreed in the drafted contract.

          The semi – exclusive is practical since it guarantees to the landlord a diligent action on the part of the agency and at the same time it will offer him the chance to save a part of the commission in return to his personal input.

          Until clear laws will be issued to organize real estate services in Lebanon; Buyers and Sellers are encouraged to consult professionals in every real estate transaction to avoid future legal disputes and to mitigate any unexpected conflicts.