![]() ![]() ![]() The only class of license that can legally represent a consumer in the trade of real estate is the brokerage class of license. This should not be confused with the current AREA standard form for listing a property on the MLS ® system called the Exclusive Seller Representation Agreement, which communicates to the seller that they cannot record with many brokerages, not that the listing is exclusively marketed within the one brokerage alone. ![]() Still, the agreement may contemplate a cooperating fee for another brokerage that brings a buyer client to a successful transaction. This means that the seller’s listing is not necessarily cooperative with other brokerages, associates, or clients. For this reason, let’s clarify what I mean by the terms used in this article.Īn exclusive listing, or more accurately “office-exclusive” listing, is a listing a REALTOR ® uses to establish a seller representation agreement between the seller and their brokerage only, which will not be marketed on the MLS ® system to other brokerages. We explain concepts with words, write contracts with terms, and read news and blogs, expecting the words used to communicate an idea based on the words used efficiently. Let’s look at the differences between these two terms.Īnyone who tells you words don’t matter will need words to tell you they don’t matter, so these people are not to be trusted. Something to consider, though, is a misunderstanding between exclusive and pocket listings has led to confusion in the industry and among consumers. The use of exclusive listings, more accurately referred to as office-exclusive listings, is an answer to a desire of the marketplace to have the option to keep seller information private, control the flow of consumers’ access to the property, or other valid reasons. The real estate industry has always been interested in offering consumer services that meet the needs and wants of the buyer while providing extensive value through experience, knowledge, and protection. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |