There are agents out there that offer and sometimes
promote “Exclusive Agency” listings.
This is when the property is not given maximum exposure by placement in
the Multiple Listing Service (MLS) and their agency is the only agency allowed
to bring in a buyer. This program is
usually promoted under the guise of a discounted commission to the seller. This is most often a FARCE because selling
real estate is a function of Exposure and Price. If a good price does not have adequate
exposure in the market place, it decreases the likelihood of reaching true
Most realtors subscribe to a spirit of cooperation among
brokers. A realtor must abide by MLS
Rules and Regulations, and a National Association of Realtors “Code of
Ethics.” An Exclusive Agency Listing
most often violates this spirit of cooperation.
Furthermore, our local MLS, Sandicor, Inc., requires placement of a new listing in the MLS within 24
hours. If the seller insists that the
listing not be in the MLS for a period of time (for various reasons) MLS
participants must have the seller sign an “Authorization to Exclude”
a listing from the MLS. This protects
the seller’s interest.
The Exclusive Agency Listing does not protect the
seller. It may often protect the
self-serving agent who wrote the contract.
Although these are legal listing contracts, I believe that companies
that promote this type of listing should be banned from the MLS and banned from
any realtor association. There are rare
circumstances when short time frames are involved where this type of listing is
legitimate; however, it should not be promoted.