If you’re looking to sell a property or home, someone may have approached you to see if you’re interested in what’s called an “exclusive listing.”
What is an exclusive listing? Is it exactly what it sounds like? Why would I be interested in that? Who does it really benefit?
To help you make the most informed choice possible, let’s get you all the facts.
What is an Exclusive Listing?
It is very much what it sounds like. Basically, a realtor, listening agent or broker signs an exclusive deal with the seller to have exclusive rights to sell this property or home.
This is the opposite of an “Open Listing,” where multiple parties can list or show the home, based on the seller’s desire.
However, a broker can work with another brokerage, if that second brokerage could help bring in the right buyer.
What are the Disadvantages of an Exclusive Listing?
This might seem counterintuitive to you. Wouldn’t you want to keep your options open, and have as many people working on your behalf as possible? Not necessarily.
It may be better to have one party working extra hard and fulltime on your behalf.
Let’s take a look at what’s in it for you.
A Great Working Relationship and Better Service
When you sign the contract, your realtor or broker is signing on to make this property their full-time responsibility.
That means you can expect:
- Better communication
- Guaranteed individual attention
- More qualified leads/ would-be buyers
Again, it’s better to have the full attention of a realtor/ broker, as opposed to working with a few different people who are giving you “some” attention.
A Faster Sale
An exclusive listing does typically sell faster than an open listing.
You’re not going to waste as much time with haggling or dealing with unqualified buyers who wouldn’t have really been in the picture in the first place.
Your broker or realtor is focused on only bringing you real buyers with real offers.
A Better Price
Better buyers mean better offers. With less haggling involved, you’re more likely to get the price that you’re looking for, while getting there in less time than you would have if you went with an open listing.
You have signed on for individual attention and a focused approach. This will typically lead to a better price, for you. Because their sole responsibility is your property and your happiness.
Want to Learn More About Real Estate?
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