Different Types Of Listings

As a seller, it is vital you know the differences between different the types of listings.

Open Listings:

• This provides that one or more agents have authority to sell your property. As the saying goes "You are everyone's listing, but no-one's responsibility".
• There are no advantages to an Open Listing. Good agents focus on selling the properties they have exclusively listed themselves. The reason for this is that they have no control how other agents may market an Open Listed property, thus diluting the potency of their own campaign.
• As the Seller, you want one good agent committed 100% rather than three or four who will 'keep you in mind'.
• Industry statistics show that less than 20% of Open Listed properties sell within the first 90 days.

Exclusive/Sole Agency:

• You will have one agent working with a commitment to achieve the best possible sale of your property for you, as opposed striving to achieve a sale at any cost before another agents does the same.
• Other benefits include:
• Security; one key with one agent accountable to you.
• Specific and regular feedback regarding interest in your property. o Greater focus from your agent.
• One sign on the property, not half a dozen (which gives the impression that the Seller is desperate, therefore encourages time wasters with offensive offers to buy).
• Less disruption to your life, imagine co-ordinating 3-4 Open Homes every weekend with several different agents.