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 market value.
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.
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.