What is an Exclusive Listing?

There are a number of ways to sell a property, but which one is the best? It depends on the situation and who you ask, of course. But there are some distinct advantages to choosing an exclusive agency listing. What is an exclusive agency listing? It’s an agreement made between a real estate broker and the property seller. In the agreement, the seller grants the real estate firm the right to be the only firm with the exclusive right to sell the property.

Yes, you will sign an exclusive agency agreement and pay a commission to the real estate agent once the property is sold, but it has many advantages. The National Association of Realtors reports that only about a quarter of people who try to sell their home or property on their own actually succeed in doing so. Your broker has both experience and a wide array of resources at their disposal to help you.

While this agreement may sound restrictive, it’s actually greatly beneficial and here are seven reasons why:

1) Loyalty between you and your broker: Brokers have a duty of loyalty to their clients who have engaged them to market their To take time away from Listing clients to spend time on unlisted property is doing a disservice to those who have hired IRC as their listing broker.

2) Your broker can spend more time on your property: With an Exclusive Listing, your broker can afford to put more time and effort into understanding your property. As this is a commission business, brokers spend a great deal of unpaid time developing information on a property and market area. Without an exclusive listing, the broker knows that another broker may go around him to the seller directly, cutting him out of the commission. This makes it unwise to spend time putting together information on an unlisted property and presenting it

3) Thorough information in your agency listing saves time for property buyers and their agents: When your property is listed with a capable broker who has spent hours delving into the characteristics of the property and the desires of the seller and then building a thorough information package, it saves the Buyer’s agent a great deal of time. It also conveys confidence that the information is accurate and reliable.

4) Increases the chance that your property will be seen: Buyer’s agents must be cautious of their time, The Buyer’s agent may be gathering information on many properties to present to his client. He often will not take the time on an unlisted property, because of the information he needs is not readily available.An Exclusive Listing Agreement gives real estate agencies the control and confidence that are required to openly and systematically approach their best prospects – those who are the most qualified for buying your specific property.In Open Listing cases real estate agencies usually do one of two things:

• they keep the property details closely – kinda pocket listing
• they will instinctively broadcast your property information to as many (mostly unqualified) prospects as possible.

In either case, the information about your property is often incomplete or inaccurate. As a result, your property is improperly presented to the wrong prospects. Even if, by luck, you property is presented to qualified Prospects, these qualified buyers get the wrong information. It’s clear that in most cases no offer is possible and no transaction is completed.

5) Offers assurance for the agent who represents the seller: A Listing Agreement specifies that the seller will pay a commission. Without a written agreement, the broker has only the verbal assurance of the seller that he will be paid at closing. As the Broker will have upfront expenses of listing the property, preparing the offering information package, signage, etc., they will already have considerable expenses and need to have an agreement they will be paid if the transaction is successful.

6) Ensures cooperation on all sides: A broker is rarely so greedy that he refuses to work with other No question these brokers are in the business, but there are very few, and all of the other brokers know to avoid them if possible.

7) Professional marketing of your property: An exclusive agency listing means that you get a thorough market analysis of your property and the surrounding area to determine the best strategy for maximizing your profit. Your listing agent will not only utilize this tool but also analyze the highest and best use of the property to determine the best marketing

8) With an Exclusive Listing, a real estate broker spends more time to get pick the best prospects. As a result, the agent can get you can get the “best offer” the first time – pretty close to your prime goals, isn’t it?In addition, this tends to eliminate much of the long negotiation process that usually includes many offers, counter-offers, counter-counter-offers, and so on – ending up with “no sale anyway”. An exclusive agreement to sell the property enables a real estate broker to take his or her time and to structure truly worthwhile offers from buyers to you.

In summary, there are many advantages that an Exclusive Agency Listing provides you. Your broker will use every marketing tool and strategy available to sell your property successfully. Broker’s not only spend a great deal of time on your listing but all of the high tech resources are very expensive and even low tech signage costs hundreds of dollars