Exclusive listing - What does that really mean?

Every once in a while you drive by a real estate sign and see the word “ Exclusive” and for most they tell me that they feel this home must be extra special or something. So when you see this what is the REALTOR® or seller really trying to tell you? Well it may be a pretty special home or extra fancy but what this word really means is that the home is not listed on MLS® and that in most cases it is not available to other real estate agents or companies to sell other than the agency that listed the home.

My question would be why would the agency or seller do this? It limits their exposure on the market usually meaning that it will take longer to sell and most likely for less dollars. The only reason I can see is to limit someone’s access to the home, a nosey neighbour or ex-spouse perhaps. MLS® requires complete access to all parties, it does not allow or permit the seller to exclude someone from viewing the home.

My advice is to put these issues behind you as your true interest should be to sell the home and who really cares who buys it. As a seller you are always in control of the terms of the sale, you have the right to reject or counter any term or offer.  Even if you get full price you can reject the offer, now your agent may have a clause in your listing contract that says if they bring you a full price offer and you decide to turn it down that you may still owe them their commission so check this first.

I understand why you might not want some people to view your home but if you followed your REALTORS® advice and removed all personal items what impact is there on a nosey neighbour or ex seeing a few pieces of furniture?

Just my two cents but if a client really wanted their home to be an “exclusive” listings than we would do as they asked because it’s their home, however I wouldn’t recommend it to anyone.

Do you have real estate questions? Need some answers? Give us a call, checkout our Face book page or our web site better still drop into our office at 350 Ashburn Road anytime, we would love to show you our display homes and answer all your real estate questions.

Do you have to pick one?

So you want to sell your home but you have two friends in the real estate business and they work for two different companies and you don’t know what to do. Pick friend #1 and then friend #2 will be upset and vice versa pick neither and they will both be mad…a no win/win for sure!

Well Oakhill Realty has the solution… you co-list the home with both of your friends!

What?

Hmmm bet you didn’t even know you could even do that? Well you can, it’s not even that complicated unless they don’t want to or their companies won’t let them. If you look at your listing agreement there is a line for co brokerages and this simply means two different companies will be selling your home. They will usually split the commission that you agreed to and that may be a small stumbling block because it will most likely be about half of what they would normally charge. If the two agents work together they should be able to split the marketing costs so their net dollars will be about the same.

The agents will have to work out some details such as whose sign will be on your lawn and who will be the main brokerage but not a big deal at the end of the day. If one is being too difficult well that may be the one you cut out of the deal. In real estate we have to work cooperatively with other agents and other companies all the time, selling agents working with buying agents, so why not have two selling agents working with one seller? It may be a win/win for you the seller, two great agents and two great companies, why not! I am sure there are some companies and some agents who feel they are too good to share but to us it isn’t about us it’s about you the seller.

Just one more solution from us at Oakill.

December & 2014 Numbers

The Saint John Real Estate Board Inc. MLS ® Statistic Report [DECEMBER 2014 ]

2014 2013 2012 %INC/DEC [ 2013 - 2014 ] Total # of Listings [Month] 219 167 184 31% Total # of Listings YTD 5738 5726 5801 0% Total # of Expired Listings [Month] 748 633 615 18% Total # of Expired Listings YTD 3378 3065 3137 10% Total # of Sales [Month] 118 79 64 49% Total # of Sales YTD 1810 1846 1866 -2% Total Sales Dollar Volume [Month] $20,581,288 $15,672,850 $9,040,000 31% Total Sales Dollar Volume YTD $292,030,401 $308,454,417 $301,361,848 -5% Show Chart 2014 2013 2012 TOTAL Total # of Closed Sales [Month] 113 121 127 361 Total # of Closed Sales YTD 1785 1832 1869 5486 Total Dollar Volume of Closing Sales YTD $290,434,951 $303,693,117 $302,639,348 $896,767,417 Total # Sales Pending 0 0 0 0 Total Dollar Volume of Sales Pending $0 $0 $0 $0 Number of Active Listings in the MLS ® System At time of Report Creation. (click Number for Current Detailed Report) 2264 NUMBER OF UNITS SOLD BY PRICE 2014 2013 MONTH YEAR MONTH YEAR Under 30,000 8 140 8 138 30,000 - 39,999 5 63 0 47 40,000 - 49,999 1 42 1 61 50,000 - 59,999 4 60 2 57 60,000 - 69,999 1 60 4 68 70,000 - 79,999 7 60 2 57 80,000 - 89,999 4 69 3 66 90,000 - 99,999 2 56 4 51 100,000 - 119,999 7 129 6 123 120,000 - 139,999 11 168 5 156 140,000 - 159,999 10 169 9 191 160,000 - 179,999 13 172 7 164 180,000 - 199,999 8 119 5 136 200,000 - 219,999 9 105 1 88 220,000 - 239,999 8 78 2 95 240,000 - 259,999 3 57 2 65 260,000 - 349,999 8 163 9 174 350,000 - 399,999 4 43 5 36 400,000 - 499,999 2 27 0 42 500,000 - 749,999 2 22 2 21 750,000 - 999,999 0 5 1 6 1,000,000 + 1 3 1 4