What is it?
An exclusive listing agreement means that your salesperson or Broker will be marketing the home on your behalf, without posting it on the Multiple Listings Service (MLS). It is very common for homes to list exclusively for people who don’t want their addresses exposed on the internet.
A Seller may want to sell their home discreetly, and only have qualified Buyers coming into their home. Sellers will typically sign an exclusive agreement before their listing hits MLS. This will allow your Real Estate agent to begin working and prepare to list your home. In this case, your agent will advertise your home only to a selected number of clients prior to listing it on MLS.
How are they advertised?
When you list exclusively, it is most likely for privacy and not wanting your address on the internet for the world to see. For those reasons, the listing agent holds all the responsibility for finding potential Buyers for the home. The agent will work with their network of clients and agents to find a suitable Buyer and only bring forward qualified candidates.
When you list exclusively with us our in-house marketing team uses the best strategy to maximize the value of your property. We have a strong online presence and receive over 50,000 impressions every month on our social media. Our team also will heavily invest in doing email marketing and print marketing to sell your property for top dollar. Being an established agent within Torotono with over 15 years of experience I have a large network of clients and Realtors exclusive listings.
Why would a Seller list their property as exclusive?
Many clients will choose this option if they are looking for some privacy throughout the process. Sellers who ask for an exclusive listing generally want to restrict showing access or sell to a specific person.
Although the sale of your home may have less visibility to other Real Estate professionals and prospective Buyers compared to listings marketed on the MLS, you will have more control over who sees your home. This is a popular option for celebrities, politicians, and well-known clients who would rather not have their addresses on the internet due to security reasons. An exclusive listing agreement will allow you to maintain privacy, and provide high-quality Buyers.
What is the downside to listing as exclusive?
The downside to listing as exclusive is a lack of exposure. You will completely narrow down the number of potential Buyers for your home. Finding the highest price for your home often comes from exposing it on a large scale to a number of people. In Toronto, where bidding wars are common, it will increase the purchase price of your property, allowing you to receive the most amount of money for your home.
When you list exclusively, your listing will not show up online and therefore typically results in a more private sale. When selling your home, the more exposure the better. Marketing is a crucial component in selling your home if you are looking to get the most amount of money.
Having a public listing will often help sell it faster and for more money. There are thousands of Realtors in the GTA who could have potential Buyers for the property. When you list exclusively it is crucial to ensure you work with a well-known Real Estate agent in Toronto with a large network of suitable buyers and agents. The strategy to sell a particular property varies from one to the next. Every property is different, and not every home in Toronto enters a bidding war. It’s a common misconception that in Toronto’s market a bidding war is the only approach.
What should Buyer’s know when buying an exclusive listing?
In such a competitive market like Toronto, it may be easier to buy an exclusive listing. You are able to connect with the Seller and put an offer in quickly without a number of others doing the same. As a Buyer it is important to work with a Real Estate agent you trust. Choosing to buy in on an exclusive listing means decreasing your chances of having to be put in a bidding war.
As a top luxury Real Estate agent in Toronto with 15 years of experience, we know what it takes to sell your home. Book a call with us today if you have any questions! Selling your home is an important decision and we provide everything you need from start to finish. My experience selling every type of home across Toronto will be your competitive advantage in the market. Download our Sellers guide today to get started.