OSCA, Residential, Investment
Selling your home might seem like a simple task, but it actually takes a lot of work and there’s a long process that you have to go through before everything is final. This is why many consider getting a real estate broker as necessary.
When you consider hiring a broker to handle your sale, you might be asked to be exclusive. What does this mean? How does going exclusive with your broker benefit you?
Below we’ve listed the advantages (and disadvantages!) before you go exclusive with your broker:
Advantages of getting an exclusive broker
With a trusted agent by your side, it lets you move throughout the comprehensive process with ease while receiving accurate information in the market. Brokers have been at the real estate game far longer than you and because of this, they have the acquired knowledge and expertise. They will make sure that all the information received are interpreted objectively. As a result, exclusive brokers will have a reliable basis for comparing options and making rational decisions.
With an exclusive listing, you can expect the real estate brokers to take full accountability when selling your property. This can give you the assurance that the broker will put in the time and energy to sell your listing. This means that the agent will often get back to you on your listing and create a strategy to market your property effectively.
An exclusive real estate broker will do the groundwork and marketing strategies to give your property credibility in the marketplace. Landlords, sellers, and developers tend to avoid tenants and buyers with numerous brokerage claims since most of them introduce similar properties like other small firms. However, if the tenant/buyer is a serious shopper in the real estate market, an exclusive broker will make sure to give you credibility. These experienced real estate agents make sure that your property’s information is not being used illegally.
Disadvantages of getting an exclusive broker
While the advantages of going exclusive with a broker sounds convincing – do remember that it comes with potentially higher fees. Aside from the higher fees for the exclusive brokers, take note that the commission for brokers usually range from 2.5% to 5% on every property they sell.
Another disadvantage of going exclusive is that your property may have fewer chances of getting seen by other prospect buyers. You will need to do your due diligence of checking your broker’s background and assess if their network is aligned with your intended market, so your property gets the right exposure it needs.
Overall, signing an exclusive contract with your broker can help you greatly rather than having to talk to multiple brokers at once. It may cost more but with the right broker, things would be a lot easier on your part.
Choosing your broker
Learn more about how a brokerage firm can help you with selling your properties. Santos Knight Frank is a renowned real estate services agency that has a great track record of serving clients with services such as occupier services & commercial agency, investment & capital markets, residential & sales leasing, property marketing, research & consultancy, valuation & appraisal, project management, asset management, property management, facilities management, technical services & engineering solutions. Visit our website and speak to our real estate practitioners at https://santosknightfrank.com/.
Learn more about real estate agents by reading Four Reasons Why You Need to Hire a Real Estate Agent when Looking For your Next Office Space.