MANDATE SERVICES
RESIDENTIAL PROPERTY
Standard Operating Procedure (SOP) for Mandate Services in Property
Objective: To establish a standardized process for handling property mandates, ensuring clarity, efficiency, and professionalism in property management and transactions.
Scope: This SOP applies to all personnel involved in providing property mandate services, including real estate agents, property managers, and brokerage firms.
Procedure
Client Onboarding and Understanding
Meet with the property owner/client to understand their requirements, expectations, and objectives. b. Collect necessary property details, including property type, location, size, features, and amenities.
Mandate Agreement
Present the property owner/client with a mandate agreement outlining the terms and conditions of the engagement. b. The mandate agreement includes details such as the property description, marketing plan, duration of mandate, agreed commission or fees, and terms for renewals.
Property Evaluation and Pricing
Conduct a thorough property evaluation, considering factors like market trends, comparable properties, and property condition. b. Provide the property owner/client with a recommended pricing strategy based on the evaluation.
Marketing Strategy and Documentation
Develop a comprehensive marketing strategy to promote the property effectively. b. Prepare professional marketing materials, including high-quality photographs, property descriptions, and virtual tours.
Listing and Promotion
List the property on various platforms, including real estate websites, social media, and local publications. b. Implement the marketing strategy, targeting potential buyers/tenants and showcasing the property's unique features.
Buyer/Tenant Screening (If Applicable)
Screen potential buyers/tenants based on their preferences, requirements, and financial capabilities. b. Arrange property viewings for qualified buyers/tenants.
Negotiation and Offer Management
Present offers from potential buyers/tenants to the property owner/client. b. Assist in negotiations, ensuring that both parties' interests are considered.
Due Diligence and Documentation
Ensure that all legal and documentation requirements are met, including property title, permits, and regulatory compliance. b. Assist in the preparation and review of legal documents, contracts, and agreements.
Post-Transaction Services
Provide ongoing support and assistance after the transaction, addressing any concerns or questions. b. Maintain a positive relationship with the property owner/client for potential future engagements.
Record Keeping
Maintain accurate records of all property mandates, agreements, communications, marketing efforts, and transaction details.
Modification of SOP
Any modifications to this SOP require approval from [Designated Authority/Management].
Conclusion
By adhering to this SOP, property mandate services are executed professionally, ensuring effective property management and successful transactions for both property owners and clients.
Customize this template based on your specific property mandate services process, local regulations, and organizational needs. Consult legal professionals and relevant stakeholders to ensure your SOP aligns with legal requirements and industry best practices.