Exclusive Agency Listing
An "exclusive agency" listing allows an agent to list and market your
home, guaranteeing them a commission if the house sells through any
real estate agent or company. It also allows sellers to seek out buyers
on their own.
This is not a popular type of listing agreement.
The reason an "exclusive agency" listing is unpopular is because there
is no incentive for your agent and their company to spend money and
time marketing your home. If you come up with your own buyer, they
have spent money (and time) that cannot be earned back through the
real estate commission.
Plus, it is too easy for greed and a lack of ethics to enter the picture.
Some unethical buyers or sellers will try to cut out the agent, even
though it was an agent's efforts that brought the buyer to the home.
If you find an agent willing to accept such a listing, do not expect too
much from them. They will probably just place it in the Multiple Listing
Service and sit around to see if something happens.
copyright 2000 by Terry Light and RealEstate ABC, revised 2002