A seller has many choices when it comes to selling a property, but which one is the best? It depends on the situation and who you ask, of course. Obviously, some choices are better than others. One option to consider is entering an exclusive agreement with a real estate agent. In this guide, we discuss what an exclusive status is and how a property seller like you can benefit from it.
What is an Exclusive Listing?
There are two types of listing agreements that most sellers can enter with a real estate agent – exclusive listing and open listing. The most basic explanation is that an exclusive listing means that a real estate agent is the only person who can list your property and sell it to a potential buyer. If a person who is not a realtor wants to list your property on a real estate website, they will not be able to do so. This helps agents because it prevents other real estate companies from competing with them.
Exclusive Listing Benefits
Sellers who have entered into exclusive agreements benefit from them in various ways. Some of the most common include:
Seller Protection
When you are an exclusive seller and have a deal with an agent, the agent protects you. They will not list your property on the Internet or put it on the Multiple Listing Service. The agent also takes care of your property’s maintenance and any other item that needs to be repaired. They will also be there to help with the process of selling and moving out of your home.
No Hassles
Exclusive listing means that you do not have to deal with other real estate agents, including a buyer’s representative. Even if you already have a buyer’s agent, they will have to step aside because they are not the one you entered an exclusive contract with.
The only real estate agent you will have to deal with is the one you chose, which means less hassle for you.
More Competitive Offers
Another benefit of entering into an exclusive agreement with a real estate agent is that you know there will be more prospective buyers. The agent will do marketing activities to draw them in, and they will be able to get the property sold quicker.
The faster a property is sold, the better because it means you do not have to deal with any potential issues that can arise from keeping the property for a long time. Some of the benefits of getting a faster sale include:
Timely Sales
Selling a property fast means that you can get your money as soon as possible. You can avoid incurring additional debt by paying off your mortgage right away.
When you are selling a property, you will be able to get the best price. In most cases, the faster you sell, the higher the price.
Lower Commission Fees
Agents usually charge a certain percentage of the sales price as commission. When a seller enters into an exclusive agreement, their commission fees are lower because the agent does not have to compete with other real estate agents for the listing.
Conclusion
There are many advantages to entering into an exclusive agreement with a real estate agent, not only for you but also for the agent. If you are selling a property and want it to be sold quickly and at a fair price, enter into such an agreement. An exclusive listing is an excellent choice for anyone selling a property, and the benefits you will receive will be well worth it.
If you’re looking to enter into an exclusive listing agreement, you need to find a real estate agent you can trust. Century City Realtors has a team of dedicated and experienced real estate professionals standing by to help you in any way. Regardless of the kind of real estate transaction you’re getting into, we offer best-in-class service for all clients. Contact us today to partner with us!
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