You’re going to sell your property? You really go for it! and don’t let people get in your way! Let’s acknowledge it, you have two prime goals: to sell it expensive and sell it fast. For these purposes you’re looking for as many real estate brokers as you can, hoping they will deliver the results you want. Some property owners realized the importance of finding the right broker. Fewer consider an exclusive listing agreement to sign with that broker.
“Don’t wait to buy real estate. Buy real estate and wait”
– Will Rogers
There are two general types of listing agreements: the Open Listing and the Exclusive Listing Agreement. It’s obvious why brokerage agency prefers exclusive agreement, what are benefits for sellers?
1. Maximum Exposure to the Right Buyers
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.
2. High-Quality Offers
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.
“a REALTOR is not a salesperson. They’re a Matchmaker. They introduce people to homes until they fall in love with one. Then they are a Wedding Planner!!”
– Tracy Chavous
3. Simplified Negotiation – No Haggling
When the property owner enters into an Exclusive Listing, it becomes just very clear: the listing agent represents the property owner. Certainly, buyers also know and respect that kind of control, commitment, and confidence shown by the owner. Buyers or tenants are often disappointed with careless and non-accountable open-listing brokers, they don’t like to waste their time trying to acquire property that was sold or leased already long ago.
Buyers or tenants will respect your broker who has the trust of the owner supported by an Exclusive Listing Agreement. You will benefit from this trust having simplified negotiation with no or less haggling.
“This is my strategy; not to negotiate. That is negotiation.”
– Million Dollar Listing’s Fredrik Eklund (2014 sales volume: $535,000,000)
4. Accurate Information – Accountability
Most transactions fail because of incomplete or inaccurate information about your property. From the seller’s point of view the Exclusive results in having real estate brokers complete information on their property. Good brokers always require complete and accurate details on all Exclusive Listings.
The Exclusive Listing also shows how serious a seller really is about selling property. If you want a careful, conscientious job, you can expect it if you have entered into an Exclusive Listing Agreement with a respectful and trusted real estate brokerage agency.
“Best things to be in life. First born, 2nd wife, 3rd broker.”
– Gregg Goldsholl
5. The Relationship
When working under Exclusive Listing real estate brokerage agency is dedicated to the principle that the interests of the seller, the one who pays a commission. The Exclusive Listing agreement creates a mutually beneficial relationship that makes the sale and/or leases of the property possible for the maximum price in the shortest time. It minimizes uncertainty and inconvenience to either party.
When you list your property exclusively with RE/MAX CondoDee you free our hands to use all of the resources at our command to sell or lease your property. We also share your property information openly with hundreds of other brokers – those we trust.
The Exclusive Listing Agreement establishes a ground for honesty, trust, and confidence between seller and broker. Such a relationship is important during the marketing process and through the closing of the sale or lease. We require this foundation for every property we sell or lease. It is the best way we can function – effectively, professionally, and accountably.