The difference between an open listing and an exclusive agency or authorization to sell means a great difference to you as a property owner as it does to the real estate agent selling your property. Let me explain the subtlety and the impact for you as the property owner.
An open listing may be given to any of the real estate persons. However the salespersons are not obliged to spend time and money to make the sale because no commitments have been made. Their policy is to wait for an offer by a buyer – any offer for consideration by the owner.
The disadvantage to the seller is that a considereable period of time may lapse before the property is sold. Very often, the control of price is lost in the open listing as real estate salespersons may resort to undercutting prices so as to close the deal.
An exclusive authorization to sell is the right given by the seller to a particular agency to sell this property within a specific period of time. It is the only way a real estate person can serve the seller properly as the seller would then have the right to demand proper attention in the marketing of the property.
The real estate salesperson working on an exclusive authorization to sell will be able to control the marketing price without any unnecessary price undercutting and he is more likely to sell the property faster. Although many property owners doubt this truth, and believe that with more real estate agents working on the property – the faster it will be to sell. Our team of ERA real estate professionals are willing to co-broke with any real estate agent that brings a prospective buyer or tenant to our listing. In addition to that, ERA is reported to have the largest registered real estate agents listed with the Council of Estate Agents. Without a doubt we have also proven track record of our efficiency and professionalism when it comes to your property needs.