EXCLUSIVE LISTINGS ARE NOT IN YOUR BEST INTEREST IF
YOU ARE LOOKING TO SELL YOUR HOME FOR THE HIGHEST PRICE!!!
Q. What is an Exclusive Listing?
An Exclusive Listing only allows the Realtors from that one
agency to bring buyers to your home. It
is not on Multiple Listing and not exposed to the vast majority of Internet Websites.
Q. What is the typical result for home sellers?
Since the exposure to your home is very limited, generally
you end up with a lower price. Most Realtors
don’t even know the house is for sale. The market in Livingston is currently RED HOT
with sale prices up over 10% in the last several years. (Per GSMLS) We are now seeing bidding wars on many
listings resulting in houses selling for way over list price, in many cases
$30,000-$50,000 and above over list. The chance of this happening with an
Exclusive Listing is very limited. Even
if you agree to a 2-week Exclusive Listing, it could result in a lower price,
based upon offers from a limited buyer pool.
Q. How prevalent are these Exclusive Listings in Livingston?
This has become an increasing phenomenon for many home
sellers. They don’t fully understand the
negative ramifications of these Exclusive Listings resulting in lower sale
Q. What are the advantages and disadvantages of an Exclusive
Listing to the seller?
The advantage to the home seller is limited showings.
The disadvantage is generally a much lower sales price due
to less exposure.
Q. What are the advantages and disadvantages to the Real Estate
Agency offering these Exclusive Listings?
Advantage- The biggest advantage, they get double the
commission. They can also claim a higher
market share by having both sides of the transaction.
Disadvantage- there may be questions about whether the Real
Estate Agency is working in the best interest of the seller. What would the price have been if the house was
fully exposed to the market? In
addition, not cooperating with other Realtors can lead to strained
relationships with those Realtors.
At Elite Realtors of New Jersey, our policy is that WE DO
NOT TAKE EXCLUSIVE LISTINGS. We
believe that generally they are not in the best interest of sellers, and will
result in lower sales prices.
Elite Realtors has sold an extensive amount of homes
throughout Livingston, many of these homes have been sold to all cash
international buyers. Do you want to
exclude these premium buyers from bidding on your house?
We believe that to get the highest possible price for your
home, you need maximum exposure involving all Realtors, the local Multiple
Listing Service as well as all Real Estate Websites, of which there are several
hundred. Let the competition from all
buyers provide you with the best possible sale price.
The bottom line is…when asked by your Realtor to do an
Exclusive Listing, even for just 2 weeks,
JUST SAY NO!
As the largest independent Real Estate company headquartered
in Livingston, we pledge to always have the best interest of the sellers as our
number 1 priority.