Serving
North San Diego County

 
Cover Story
Daily Chuckle
Local News
Social Butterfly
Special Feature
Kaufman’s Korner
Pet of the Week
Professional Advice
.....The Vet Is In
.....Your Body Can
..... Heal Itself!
.....Real Estate
.....Reverse Mortgages
Featured Merchants
Letters to the Editor
Advertisers/Classifieds
The Paper Directory
Where to find
The Paper
Archive
Marketing/Media Kit
Contact Us

 

 

 

 

 

 

 

 

 

 

Professional Real Estate Advice October 28, 2004

John Puhek
Owner Broker/RE/MAX Professionals

 

Seller Beware

Seller Beware

 

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.

 

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.