[Video] What is an exclusive real estate listing?

I recently had a client take a picture of a sign that said “Exclusive” on it he asked what it meant and why they couldn’t find it on MLS. Here’s the answer…

An Exclusive real estate listing is a listing that is Exclusive to the listing agent or the agent on the sign. This means that it is NOT on MLS and only the listing agent can show the home. Traditionally agents used Exclusive listings if sellers were not quite ready to bring the home to market- maybe they were completing renovations or painting.What I find many agents are using exclusive listings for in this hot market is to get buyers to call them first and to hopefully “double end” the deal.

What I find many agents are using exclusive listings for in this hot market is to get buyers to call them first and to hopefully “double end” the deal.The exclusivity makes buyers think they have to contact that agent if they want to see the home and not the agent they are actually working with when in fact in most cases you can still tour these homes with your agents if you ask.

The exclusivity makes buyers think they have to contact that agent if they want to see the home and not the agent they are actually working with when in fact in most cases you can still tour these homes with your agents if you ask.I always ask the question to myself why would anyone list exclusively? You might as well list privately and do the work yourself. I think these agents that list exclusively position it that they have a number of buyers in their pocket for the type of home and typically they say if they can bring the buyer they will reduce their commission. At most I imagine they will reduce their commission 1% saving the sellers $5000 on a $500,000 home. But at the same

I always ask the question to myself why would anyone list exclusively? You might as well list privately and do the work yourself. I think these agents that list exclusively position it that they have a number of buyers in their pocket for the type of home and typically they say if they can bring the buyer they will reduce their commission. At most I imagine they will reduce their commission 1% saving the sellers $5000 on a $500,000 home. But at the same time that agent is padding their pockets with a potential extra $10,000 by double ending.This is unethical

This is unethical behaviour in my opinion. They dangle the carrot of saving the sellers commission but pad their own pockets. The worst part is that 9 times or 10 (especially in this market) had they taken the property to market they would have likely ended up with multiple offers resulting in a bidding war that would more than offset the $5000 saving in commission.In a sellers’

In a sellers’ market the best thing for the sellers is to expose the home to the widest range of buyers and the only way to do that is by going MLS.Coming soon signs are another example of this- many agents are using coming soon signs to accomplish the same thing. I don’t have an issue with coming soon signs as a tool for generating buyer leads but if you are using a coming soon sign you MUST eventually put it on MLS and expose it to the market letting the buyers you have generated from your “coming soon sign” compete with everyone else.

Coming soon signs are another example of this- many agents are using coming soon signs to accomplish the same thing. I don’t have an issue with coming soon signs as a tool for generating buyer leads but if you are using a coming soon sign you MUST eventually put it on MLS and expose it to the market letting the buyers you have generated from your “coming soon sign” compete with everyone else.At Knight Realty we don’t use these shady types of marketing tactics to trick buyers into calling us or trying to pad our pockets by

At Knight Realty we don’t use these shady types of marketing tactics to trick buyers into calling us or trying to pad our pockets by double ending. We do what is right for the client because after all that is what this is all about and the right way to run a business.

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