While considering the best way to sell your home, you may have heard the term “exclusive listing.” The idea is that you sign an agreement giving just one agent the right to market and sell your property.
In a typical selling scenario, homes are placed on the multiple listing service (or MLS). This database allows brokers to share property details with the aim of connecting buyers and sellers. With an exclusive listing, the responsibility of finding potential purchasers lies solely with your agent.
While listing exclusively isn’t always the right decision, there are times when it’s the ideal solution. Here are five potential benefits of an exclusive listing…
More privacy
If you don’t want the world to know your home is on the market, you’re not alone. Many sellers prefer to keep their listings off the MLS for the sake of privacy.
Perhaps your sale comes at a challenging time, like during a divorce that you’d like to keep quiet for now. Maybe you’re a public figure, and you’ll feel more comfortable if your neighbours don’t know your every move. Whatever your reasons for wanting privacy while you sell, an exclusive listing may be your best option.
A quicker sale
Is a quick, convenient sale your goal? Many sellers want to close as fast as possible, which often means forgoing the preparations and marketing efforts that would otherwise be devoted to their home.
In an exclusive listing agreement, an agent will often have a well-qualified buyer lined up. If that happens, you’ll be well-positioned to sell in a hurry—without the hassle of continuous showings, It’s just one more reason why an agent’s connections and local expertise are of the utmost importance.
It can be less risky
Listing on the MLS can mean more exposure for your home. That’s helpful if you want it to be discovered by as many buyers as possible, but it can also come with some drawbacks.
Every property on the MLS has a recorded history, which includes how many days it’s been on the market. If it sits there too long, buyers begin to view it as flawed (whether that assumption is fair or not). With an exclusive listing, potential purchasers don’t have access to this information—which means their decision will be based on the actual merits of your home.
A (potentially) higher price
Pricing a home accurately is about striking the right balance. While you want to secure the highest sum possible, asking for too much can discourage buyers from making an offer. Having said that, there are people out there who are willing to pay above market value for the right property.
Listing exclusively is a low-risk way to test the waters. Since your home isn’t on the MLS, you can list high without worrying about buyer perceptions if it doesn’t sell quickly. In the end, you may wind up with a very impressive profit.
Close attention from your agent
A great agent will provide every seller with the top-quality service and hands-on attention they deserve. That being said, your representative has a stronger incentive to take care of every last detail when they’re handling your listing exclusively.
On the open market, agents compete for your business. With an exclusive listing, you have one professional who’s accountable to you—and highly motivated to achieve a quick and profitable outcome. Many sellers enjoy the peace of mind that comes with knowing their agent has a significant stake in their success.
Are you wondering whether an exclusive listing is right for you? Talking to a real estate professional who understands the process can help you make an informed decision.
Reach out today to learn more about exclusive listings, the market, and how I can help you sell your home!