What Is An Exclusive Real Estate Listing – Is This Right For You?
When selling a home, most sellers choose to work with a Real Estate Agent in Ontario to list their property on the Multiple Listing Service (MLS) to maximize exposure to potential buyers looking for new homes for sale. However, there is another option of selling your home as an exclusive listing.
But what exactly does that mean and how does it differ from a traditional MLS listing?
WHAT IS AN EXCLUSIVE REAL ESTATE LISTING?
An exclusive listing is a real estate agreement in which a seller contracts with a single brokerage/real estate agent to market and sell their property. Unlike MLS listings, which are publicly available to all real estate agents and potential buyers, exclusive listings are not advertised on the MLS. Instead, the listing agent and brokerage promote the property through their private network and marketing strategies. Which is why these listings are often referred to as ‘off-market’ listings or ‘pocket listings’.
WHAT’S THE BENEFIT OF EXCLUSIVE LISTINGS AS A SELLER?
Sellers may opt for an exclusive listing for several reasons:
Privacy & Discretion – Clients who value privacy may prefer to keep their property off public listing sites. Sellers who are high profile, celebrities, going through divorce or people who have a lot of valuables stored at home may prefer to route.
Targeted Marketing – The listing agent uses a more personalized approach, leveraging their network of qualified buyers, private showings, and direct outreach. Exclusive listings are more common with highly sought after properties, which allows the agent to vet potential buyers before visiting the property.
Testing the Market – Sellers who are unsure about selling or want to gauge interest before going public may use an exclusive listing as a trial run and compare their home to other new homes for sale in the local market.
WHAT’S THE BENEFIT OF EXCLUSIVE LISTINGS FOR BUYERS?
In a highly competitive real estate market, it may be easier to skip the queue and buy an exclusive listing directly from a sellers’ real estate agent. The advantage is that you are able to connect with the seller and put an offer in quickly for a new home for sale without having to compete with too many other offers.
If you are curious to see what type of off-market listings are available, we recommend working with a real estate agent who has a strong network and reputation in the community you are looking into!
If you are looking to buy a house in Scarborough, please reach out to our team as we may have access to an off-market property that is perfect for you!
SELLERS, IS AN EXCLUSIVE LISTING RIGHT FOR YOU?
If you prioritize privacy, have a highly sought-after property, or want a strategic marketing approach, an exclusive listing may be a great option for you. However, if you’re looking for maximum exposure alongside other new homes for sale, an MLS listing might be the better choice.
We understand that every seller’s situation and home are different and requires a strategic approach to get the best outcome. Reach out to our team today and we will be happy to provide you with a free home evaluation and develop the right plan for you!