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Exclusive Listings

I have a listing for a friend and we decided to keep it exclusive until they have finished fixing up the property and when they are really ready to sell. This is quite a unique property and there have been many responses, even with just a sign and flyers. The thing is, it says exclusive right on the sign. Yet I have had 2 real estate agents so far calling to ask what the comp is for the selling agent. Don't people know what exclusive means? Or maybe they just figure sales are so hard to get they will try anyway. Since my clients are not really ready to move and are just testing the waters right now anyway, should I respond and offer a commission? Should I make it a very low commission? Or pay the usual. My clients originally wanted to have the negotiating power to give back to the buyers, but that won't happen if they have to pay the selling agent. Is there a right or wrong way to do this?

Posted by Vera Gleason on 08/18/2007 12:07 AM

Comments (2)

2 Comments on Exclusive Listings

AUG

2007

Hmmm, the way our market is here, it seems you need to offer higher than average for a house to be toured. I can't imagine any REALTOR here calling to get info on an exclusive listing.

Good luck!

Hi Vera,

Why should someone run five miles in the morning, then eat a #1 at McDonalds for lunch? To me that is what you and your client, I mean wanna be client, are doing at this time.

A real estate professional would not even waste their time with this kind of seller, whether a friend or a generated lead, in the type of market we are in...Unless they, the agent, are just seeking to obtain leads for their own business.

The truth is that if your sellers are in need of fixing up their home, Do that first and then place the property on the market for sale. What I do not understand is why your client, and you, are still utilizing 2005 selling concepts. Our market here in Southern California began it's change in November of 2005.

Should an agent call you regarding the compensation, just inform them that as of today zero is being paid. Though starting on such and such date, you may obtain X% if you bring in a buyer with an accepted offer. It's not about whether the agent asking about compensation knows the idea behind "Exclusive Agency." It's about probing the listing agent with this kind of advertisement to discover if their is a window of opportunity.

There are two many homes for sale today for you to consider this type of promo. In fact you are going to make your clients home look stale when it does come on the market, open to any agent with a buyer. You will be pressured with low ball offers due to DOM (days on market).

These are just my thoughts here Vera.

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