Buying a property lets you face several choices in the market, and the same happens with selling your home. Finding the right agent and setting a price that aligns with your needs can be challenging. Likewise, the ultimate decision lies in how the seller wants to sell their property. It’s either an exclusive or an open listing where one choice significantly impacts the success of your sale.
Exclusive Listing
An exclusive listing is where the seller appoints a trusted real estate agency/agent for the selling procedure. The agent handles all aspects of the sale, from marketing and pricing to guiding the seller through closing. This approach ensures that a seller has:
Personalised service:
By understanding your needs closely, the agent tailors strategy to maximise your property’s appeal in the market. One can enjoy peace of mind, knowing their property is handled by expertise.
Higher Chances of Being Sold:
Controlled buyer interactions, such as pre-qualification and focused showings, increase the chances of a successful sale. And as the contract for exclusive listing includes a specific period, it can result in a quick sale.
Quality Buyers:
A professional agent brings you access to qualified buyers in the market. With strong networking and negotiation skills, the hassle of selling a home becomes much less.
Open Listing
Open listing is an approach where the seller is not tied to a single agent or real estate company. Generally, the process has simple rules where multiple agents work simultaneously. Whoever sells first gets the commission as per the seller’s pre-agreed terms.
Wider Reach
Since multiple agents are working for the same property, the exposure becomes broad. Each agent bringing buyers can help to increase the chances of finding the potential buyer.
Flexibility
Especially in competitive markets, open listings act as a way to attract a wide pool of buyers. Also, flexible property marketing allows agents to employ diverse marketing strategies.
Low costs
Choosing an open listing doesn’t necessarily mean the agent has to sell your property. If you find a buyer on your own, you won’t have to pay a commission, which can save you money.
Which one to choose?
For a well-managed sales process and professional negotiating, an exclusive listing with Sapphire Real Estate can be helpful to you. But for maximum exposure, an open listing may be a good choice.
Ultimately, the seller’s priorities and circumstances dictate whether an exclusive or open listing is the right choice.
