broker designated in an exclusive agency listing is the one and
only agent authorized to sell your house during the term of the
listing. If any other licensed real estate broker or agent finds
a buyer, your broker gets paid.
you aren't a licensed real estate agent, the listing contract excludes
you. Under the terms of an exclusive agency listing, owners specifically
reserve the right to sell their own house directly and ace the broker
out of a commission. Your broker - who should be your strongest
ally - is your competitor.
adversarial relationship isn't good for you or your broker. Exclusive
agency listings discourage brokers from spending time or money marketing
property because the arrangement offers no assurance of a reward
for their efforts.
Exclusive right to sell listings
exclusive right to sell listing is also referred to as an exclusive
authorization and right to sell or just a plain, old exclusive.
The exclusive is the most widely used form of listing contract in
the United States. Here are the reasons it's popular with sellers
Maximum incentive for brokers: Under this form of exclusive
listing, the listing broker gets paid if anyone -- even the owner
-- finds a ready, willing, and able buyer for the property during
the life of the contract. Owner and broker are allies, not adversaries,
with a mutually beneficial goal of getting the listed property
sold as quickly as possible for as much money as possible.
effort for seller: An exclusive right to sell listing gives
your listing broker a strong monetary incentive to focus his or
her time, energy, and advertising dollars on one priority -- a
fast, top-dollar sale of your house. To that end, the listing
broker should immediately cooperate with any and all other brokers
who might have buyers for your property by offering to split the
compensation 50/50 (or whatever split is customary in your area)
with the broker who generates a ready, willing, and able buyer.
Nothing is wrong with giving your listing broker a day or two head
start on other brokers, if you approve. However, good brokers don't
keep your listing quiet for long before advertising it and opening
it up to cooperating brokers.
To Seller Services
Exclusive right to sell listing contracts vary widely in length,
wording, and complexity from one state to another and from city
to city within any given state. Regardless of the wording in your
contract, here are a few fundamental facts to keep in mind about
all exclusive listings. Key Facts of Exclusive Listings
Next Step: Open Listings