What if My Seller Asks for a 'Listing Exclusion?'

Reblogger
Real Estate Agent with Exit Realty Premier

I agree that you should give the seller a listing exclusion without any hassel.  However, I always make the exclusion effective for 60 days.  No one has ever argued about it and it protects both parties. I began doing this after a seller sold his house to an excluded buyer after turning down a higher offer from my buyer in order to save the commission.  This was 5 months after the start of the listing contract.
In most cases a buyer will act in 60 days or move on.

 

 

Original content by Jennifer Allan-Hagedorn

For those who haven't encountered a "listing exclusion" yet, it's simply a request from a seller that if a certain person or persons buy the home after it goes on the market, your listing commission won't apply. For example, perhaps the seller knows a guy at work who says he'd be interested in purchasing the house, but he's still thinking about it. Your seller doesn't want to wait for him to make up his mind to go on the market, but neither does he want to pay you if the guy actually ponies up. So, the seller asks you to "exclude" this particular person from your listing agreement.

Should you do it?

My advice? Sure. Don't argue, don't explain, and don't make a big deal out of it. Write in the exclusion and get on with putting the house on the market. The chances that this guy is actually going to purchase the house are slim, but if he does, the seller will probably need your assistance to get the contract written and to closing. For which you most certainly may charge a reasonable fee.

No reason to go to battle over this. Save your energy for bigger things!

sos

 The Summer of Soul Begins Saturday... Get Your Ticket here! 

 

Comments (0)