Exclusives Listings and Seller’s Interest
Questions:
is there a reason a seller wouldn't be willing to see an offer from a co-operating broker if they don't have to pay commission - ie buyer pays (this is for an Exclusive Listing situation)?
Also if the listing agent has a very strong potential offer/client through a co-op broker, would the seller not want to know and would it be ok for the listing agent not to inform the seller if according to the listing agent "The seller is not willing to co-operate"?
Is it really the seller not willing to co-operate or the listing agent? I'm trying to wrap my head around understanding exclusives where there is no co-operation. I have a hard time seeing the logic, especially for simple residential deals. Maybe for a complex transaction where a unique expertise is needed? Appreciate some feedback!
Answers:
1) No,
2) No,
3) Likely the Agent,
4) No,
5) No.
General Response: A Seller who enters into an exclusive listing is sometimes looking for privacy. Also, they are probably trying to save some money on commissions. They still want to sell, but they are convinced that there will be less hassle. An Offer is an Offer, so they should be ready to go, no matter what.
There still may be two parts to the commission and the Listing Agent wants them both. That’s likely why you are running into trouble. Discouragement by the Listing Agent directly before your Offer has been submitted seems cavalier and foolhardy. Why wouldn’t the Seller want to see it? In most cases, this would be a clear breach of the Agent’s common law fiduciary duties.
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