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.