Why You Need A Sole Selling Agency: All You Need To Know!
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Making good enough sales to sustain infrastructure development projects is one of the biggest challenges real estate groups face in today’s day and age. To bridge the gap between completing constructions and selling units to customers, builders often find themselves liaising with a slew of real estate brokers, which gets hard to manage. In such a scenario, the only saving grace is teaming up with a one-stop solution by appointing the best sole real estate consultants in Pune.
In this blog, we, at Sole Reality Consultants are giving you the complete lowdown on what sole-selling agencies are, what they do, and why you need them.
What is A Sole Selling Agency?
Also termed as real estate consultants, sole selling agencies are third-party companies that undertake the role of promoting and selling a business’s products or goods while letting them focus on their core competencies. Sole real estate consultants in Pune can also help make sales in a location to which the developers may not have direct access. As it stands, a property is said to be being sold “solely” if only one estate agency has been given the go-ahead.
Why this works well is because a good real estate sole selling agency in Pune can devote more time and effort to selling the property under this kind of arrangement.
Sole Agencies And Commercial Real Estate:
The Correlation While sole agencies can be appointed across various sets of industries, they currently have an astounding demand in Pune’s real estate market, where top real estate consultants in Pune are making colossal successful sales that are a boon for developers. In the case of a sole agency arrangement, the agency is the only one tasked by the builder with selling the property through effective marketing. The rules are simple: if there is a sale during the sole selling rights period, the sole real estate consultants in Pune get their fee, and the real estate developer makes much-needed sales.
Why Should Real Estate Developers Opt For A Sole Selling Agency
Now that we know what a sole selling agency does and is, let’s take a peek into why it is a smart choice for developers who wish to make more promising sales in the current real estate market that is filled with both challenges as well as opportunities. To put it simply, the popular demand for sole real estate consultants in Pune is more than justified since simplifies the selling process of a project substantially. Top real estate consultants in Pune can create a genuine communication plan and market the home to all potential purchasers. What’s more is that, as a builder, your company won’t have to deal with the aggravation of being overcrowded by agents or purchasers who saw your home advertisement on the same real estate platform. Instead, hiring one real estate sole selling agency in Pune streamlines the procedure and saves time.
Other benefits of hiring a sole selling agency include:
1. A Lower Rate of Interest
One of the most beneficial advantages of a sole agency agreement is that you can sell your units at a reduced interest rate thanks to the efforts of the real estate agent who was assigned to you as part of the arrangement. This is regarded as a fantastic resource for the seller. The real estate agent typically agrees to take 3.5% rather than 5% in the case of a sole agency agreement, which benefits clients.
2. Get The Asking Price
It’s time to let go of the fear of bargaining. A property that is sold alongside a sole agency agreement typically sells for the asking price. The agent’s aim here is not to suggest a price to prospective buyers that are in line with the market value, but rather its intrinsic worth.
3. Maximum Efforts From A Single Source
In contrast to liaising with multiple real estate agents who already have their hands full with a slew of other projects and end up having no time for yours, hiring a real estate sole selling agency in Pune can assure you of the interest in the business since the agency will contractually provide all the attention, expertise, and time they have to the search of the perfect buyer for your home.
4. The Ease Of Managing
Dealing with too many agents at once, for one single project can make it nearly impossible for your organization to get instructions across to everyone. On the other hand, dealing with one of the best sole real estate consultants in Pune helps maintain your interactions and ensures more professionalism while providing you with a more direct and clear mode of the transaction in terms of insights, information as well as instructions.
5. The Exclusivity Appeal
A solo agreement is sometimes associated with exclusivity and quality as opposed to multiple agreements. You may guarantee that your home retains its appeal to purchasers by featuring in distinctive and targeted marketing. And in the luxury real estate industry, exclusivity is typically advised to draw in its very picky customers, which is why teaming up with top real estate consultants in Pune for sole selling is advisable.
The Sole Agency Contract: What Should It Feature
Now that you know about the many benefits of partnering with a real estate sole selling agency in Pune, you might want to know how to take it forward the right way, without glitches. This is why you need to know what a sole agency contract needs to entail in terms of legalities. According to the Estate Agents Act 1979 and the Estate Agents Regulations 1991 certain points must be followed when making a sole agency agreement with a realtor, which we’ve mentioned here.
Fee Clarity: The first part of your contract should state clearly the fees that are to be delegated to your sole selling agency. In order to avoid any misunderstandings or last-minute modifications in the payment of fees to the agency, this is the time to decide on the exact amount you will be paying. Being cautious is always better than being regretful and getting into a last-minute fee dispute.
Basis Of Instructions: Give directions to your realtor and modify the channels of communication. It is crucial to establish open communication channels so that you and your realtor can begin working together with a shared understanding of how to approach the situation.
Duration: The duration of the agency’s access to the property for the purpose of marketing and selling it is something that people frequently neglect to mention when dealing with agreements. This information should be included in the contract so that both you and your realtors are aware of how long they will be working on your behalf. This will also enable them to plan the amount of time needed to sell your listing.
Hidden Fees: When you’re formulating a contract, be sure not to be blindsided by any hidden charges. Even when working with specialists, things occasionally slip beneath the surface, and you could end up paying unanticipated fees. It is better to discuss all potential hidden fees up front in order to avoid situations like these from occurring and to maintain an ethical partnership.
The Types of Sole Agency Agreements You Need To Know
While we’ve given you the rundown on what a sole selling agency is, and why it might prove to be useful for your development projects, here are a few different types pf sole agency agreements that can be chosen from, based on your requirements and comfort.
Sole Selling Rights Agency :
In a sole selling rights agency, the agency that is tasked with marketing and selling your properties is allowed to get a payment from you even if they aren’t the ones who actually make the deal to sell your property go through. In any case, you will be required to pay them a fee that will be established after your home has a buyer.
Joint Sole Agency :
In this kind of agreement, you can appoint one, two, or sometimes even three real estate agents who come together to work on marketing and selling your property. In this deal, the realtors who collaborate divide the commission you provide them when the house sells.
Multiple Agency :
In this contract, a team of real estate agents can collaborate to sell your home, but when the deal is closed, the commission payment only goes to the agent you signed the contract with; you are not liable for the payment of any additional agents because they were not included in the contract.
Drawing A Conslusion :
Now that you have an in-depth insight on sole real estate consultants in pune, it is time to choose the right partner that can fulfill you marketing and sales in the most effective of ways. At Sole Real Estate Consultants, we maintain utmost transparency in all of our partnerships, and have worked with some of the most extraordinary names in India’s real estate industry. With a dedicated team of sales and marketing experts, we get the job done with precision, creativity and a whole lot of buzz around your development project. We are all set to become your sole selling partners. Get in touch with us today!