You'll have to make many choices when selling your property. Choosing how to list your property using numerous agents or just one will be one of those choices. In Tracy Chavous'sChavous's view, "A realtor is not a salesperson; they are a matchmaker. They introduce people to homes until they fall in love with one. Then they are a Wedding Planner!!"
Which method is the finest among those available for selling a property? The answer will vary depending on the circumstances and the person you ask. However, the decision to use an exclusive agency listing does have significant benefits over an open listing.
So, what is a listing from an exclusive agency? It is a legal contract between a real estate broker and the property owner. According to the terms of the agreement, the owner gives the real estate company the right to be the only business with the sole authority to sell or lease the property. The owner then signs an exclusive agency contract and pays the real estate agent a commission after selling the house. Adding onto that, a buyer would not want to see the same property five times because they engage with multiple agents. There lies the benefit of an appointed broker. They drastically facilitate the process for you, as they have a plethora of expertise and highly personalised resources.
Here are five reasons why this agreement, despite sounding limiting, is quite advantageous:
1. Enhanced awareness of your property
When you list exclusively with a brokerage or an agent, you automatically maximise the exposure of your listing via the several marketing initiatives of the brokerage. This includes listings websites and premium publishings on all property portals, Property finder, Bayut, and Dubizzle, personalised social media campaigns & digital marketing and high-end photos & videos. Contrarily, an open listing provides a different amount of guaranteed marketing, so your property might not get the desired exposure.
Here at White & Co, we go all out for our exclusive listings, from digital to traditional marketing methods - all our efforts are put into one listing with one highly motivated broker, all to maximise your returns.
2. Community Experts
When you list exclusively with a brokerage, a qualified agent will work on your behalf and that of your property. They will be able to respond to inquiries, negotiate on your behalf and offer guidance throughout the procedure. Buyers and tenants prefer to spend their time trying to own properties that have already been sold or leased and are frequently disappointed by sloppy and unreliable open-listing agents. The seller's information remains confidential with the use of exclusive listings.
Any agent bringing a buyer may display the house under an open listing and even give the buyer information about the seller. The seller has more control over who has access to their personally identifiable information when using an exclusive listing. You will receive a different degree of expert representation with an open listing.
3. Creates a process simplification and accuracy for the sale
The process is made more accessible since you only have to work with one agency when you have an exclusive listing, which can streamline and make selling your property easier. Contrarily, an open listing requires you to work with numerous agents, invest more time communicating with them, and grant access to copious individuals during a packed schedule that might be more challenging. It also helps you avoid an emotional sale, as your trusted broker comes backed with years of experience and market knowledge. Trust them to get the right offer in the right market at the right time!
The exclusive Listing also demonstrates the seller's commitment to selling the property. If you've signed an Exclusive Listing Agreement with a respectable and reputable real estate brokerage firm, you can count on receiving a diligent and professionally done job.
4. Enhanced chances of selling your property
Properties listed exclusively with an agency have a higher chance of selling than those advertised openly. This is probably because an exclusive listing offers more substantial marketing efforts and qualified representation. Additionally, it tends to cut out a lot of the protracted negotiation process that typically involves multiple offers, competing offers, and so on, leading to "no sale anyway." A real estate broker can take their time and craft offers from buyers that are worthwhile to you when they have an exclusive agreement to sell the home.
Inversely opting for a "non-exclusive" agent who won'twon't be driven to invest a significant amount of effort and time into marketing your property because there is no assurance that they will receive an incentive. There is also massive competition between agents resulting in a decline of the property value and loss of valuable time because frequently, those agents wait for buyers to initiate the sale or lease.
5. Build lasting relationships
When you list exclusively, you have one broker dedicated to ensuring that your interests come first. It reduces ambiguity and inconvenience. When you exclusively list your property with an agency, you give us the freedom to sell or rent your home using all the tools available, and you best believe that the agent will go all out!
Additionally, we openly share your property information with hundreds of other brokers we have confidence in. The Exclusive Listing Agreement creates a foundation for sincerity, confidence, and trust between the broker and the seller. This foundation is necessary for every real estate we sell or rent. It is the most efficient, responsible, and professional way for us to work.
In conclusion, having an Exclusive Agency Listing offers you several benefits. Our dedicated brokers at White & Co will effectively sell your property by utilising all available marketing techniques and tools that we have, and all around your comfortability.
We only stop once you're satisfied. For more information, check out our list with us, an exclusive brochure or watch the recent episode of our podcast Real Estate & Real Life, where we answer all your questions on complete listings. So if you’re looking to sell your home, get in touch with your community property consultant.