When diving into home ownership, you may notice words and terms flying around that you don’t understand. To avoid overwhelming you with the ins and outs of the real estate language, let’s start by talking about the difference between an exclusive and non-exclusive listing.
Exclusive Listing: An exclusive listing arrangement means you are granting your agent with exclusive access to find a buyer for your home. With this type of agreement no other agent will bring potential buyers to your home because only the listing agent is entitled to the commission. After an agreed period of time, you can arrange to work with other agents.
Non-Exclusive Listing: A non-exclusive listing arrangement means your listing will be available to other agents and they will have the opportunity to bring potential buyers to your home. The advantage of this type of arrangement is the exposure of your home. Your listing will be syndicated to various websites including remax-stkitts.com which allows potential buyers and agents to consider your home. Non-exclusive listings are the most common type of agreements in the Real Estate market.
To put it simply: Exclusive Listings will be less work for you, the owner/seller as you only need to deal with one agent. That agent will be coordinating efforts with all other agents and potential buyers. Non-exclusive agreements means that you have to deal with all the agents who are trying to sell your property. Some agents might offer added bonuses for going exclusive with them as well.
Your real estate agent will discuss both options with you to determine the right strategy for your home. Visit remax-stkitts.com to get in touch with a local RE/MAX agent who will be able to walk you through the options to determine which one is right for you!