FNAIMSIAMSL France

Sales Mandate Exclusive or Non-Execlusive - Vivre à Paris, a real estate agency “unlike any other”

photo
 

VAP informes you

Is the sales mandate required?

Sales Mandate Exclusive or Non-Execlusive

 

The sales mandate gives the real estate agent the capacity to act on behalf of the client through one or more legal documents to achieve the results as determined by the clients.

The real estate profession is regulated by a law known as the Hoguet Law. By virtue of this law, the real estate mandate requires the following:

  • An act required in writing stating the registration of the professional license.
  • An act detailing the mission.
  • An act detailing the accounting methods and practices. The client must grant the right of the real estate agent expressly to receive funds on his behalf. The receipt of funds is made within this framework, as limited to the language written in the sales mandate.
  • An act determining the remuneration of the agent. The fees of the agent are freely determined since 1986. The fees are fixed individually and freely for each business according to the tariffs that the real estate agency is required to post in its window.

Finally, the sales mandate must include a clause stating the anticipated expiration date of the sales mandate. The most common term of a sales mandate is signed for a period of three (3) months, renewable for the same period until such time as the parties agree to a final termination date.

In conclusion, the mandate is a document that protects the seller, details the rights of the real estate agency and outlines the conditions of its remuneration. The real estate agent cannot interpret beyond what is outlined in the mandate. Remuneration is paid at the signature of the final sales agreement at the notaire’s office.

 

 

Properties for sale

Vivre à Paris RSS feeds

Paris images

photo

Our partners

You are a seller

You are a buyer