A sole agency agreement is a type of contract in which vendors of a property appoint just one real estate company to market a property for a determined period of time.
The duration of exclusivity contract is agreed by both vendors and real estate agents and varies according to the size and type of property which is marketed.
A reputable real estate company will only offer a sole agency contract when the valuation’s agent feels the asking price is correct and the sales team feels truly capable of selling the property in the allocated time frame, as the efforts involved and marketing costs are much higher than an open or regular listing.
Sole agency contracts offer estate agents the confidence and time to dedicate all their marketing efforts and resources to work towards a personalised strategy to sell a property.