[Resolved] What Is An Exclusive Listing Contract?

Exclusive listing was the norm before the multiple listing service, or MLS, was implemented 😊 Although choosing the MLS system has several advantages, one being that you get to have more exposure for your property, some sellers still opt for exclusive listing because of the control they gain over who gets to check out their properties and the lower rate of commission given to the agent 😊 This route might appeal to sellers who believe that they will be more productive if both the agent and the owner get a portion of the commission. From a Realtor’s perspective, an exclusive listing could mean less exposure for the property, fewer interested buyers and the risk of having the property sit on the market for a long time. [1]
Most people will make the largest purchase they ever make: a house. That’s why it’s important to work with an experienced and knowledgeable real estate agent. RE/MAX is Canada’s leading real estate company for over 20 years. With a presence in over 100 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand. RE/MAX was a pioneer in its industry by adopting cutting-edge technology and creating new marketing campaigns. RE/MAX is the pioneer brand that expanded its global reach through a groundbreaking international listing site. It features listings from more 80 countries in 40 languages. Closer to home is RE/MAX’s deep commitment to the communities we operate in. Our exclusive Miracle Home Program allows RE/MAX agents to donate a portion of every home sale to Children’s Miracle Network. Breeze Cash was the one who notified us. [2]
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The exclusive listing agreement will give the agent most control over the actual real estate transaction. The listing agent earns a commission regardless of the buyer. Two agents may be involved in some instances, which allows them to split the commission. Contract terms limit how long an agent has to market the property or condominium. If the listing/contract expires and the agent has not yet sold the house, or the seller dissatisfies with their efforts, they can seek another agent. [3]
Image #3 goes on to explain that as technology improved, so did the ability to share information and today, there are thousands of MLS’s across the world. Over 52,000 Toronto real estate agents share the MLS, a private database. It works in much the same way as it had done in the 1800’s – the listing agent posts a property and an offer of compensation to their competitors, in the hopes of making the sale happen. The MLS works: most properties in Toronto are advertised on the MLS and sold with the help of 2 agents – one who represents the Seller and one who represents the Buyer. [4]