Why is it worth considering listing your unit exclusively with one real estate agency?

Alina Adamco, Head of Sales at Metropolitan Homes, explains why it is preferable to deal with one broker when listing a property.

1. Why should a real estate owner consider listing their unit(s) with just one agency/broker under an exclusive agreement?

There are multiple advantages when listing your unit with a single agency that you trust, as the agency will be able to dedicate a lot of resources to the promotion of the unit. As a result, the agency will be able to attract more clients than multiple agencies, who will not have the same focus on your property. Dealing with one agent will also save time on negotiations, because you will not have to review multiple offers simultaneously.

2. Can you give an example of when a client benefitted from hiring a single agency?

We had a client in Dubai, who was doubtful about listing his unit exclusively with one agency. However, we have concluded an exclusivity agreement and sold his property after only one viewing. The approach of our agency allows for a wider exposure in many languages across a myriad of different digital marketing platforms, as we offer marketing campaigns across Europe, the US, Asia Pacific and the CIS countries.

3. Can you tell the difference between properties sold on an exclusivity basis and non-exclusive units?

It depends on the demand, the location and the pricing range of the real estate. Nevertheless, with an exclusive listing, the transaction can be concluded within 90 days on average. The main issue about a non-exclusive listing is that it can stay on the market for a long period of time. As a result of the hypercompetitiveness of the market, many brokers are contesting against each other and making unrealistic promises to sellers, which can result in a lost deal and an unhappy seller.

4. Can an exclusive listing have an impact on the image or the reputation of the property?

Of course, listing a unit with one reputable agency, such as Metropolitan Homes, will protect the property’s image within the market, in particular, if it is an upscale unit. Our specialists will ensure the delivery of high-quality advertising with up-to-date pricing. Handling the market and communication with a single agency will minimize confusion amongst prospective purchasers, so they don’t see the same listings across various agency websites or the duplication of listings on the same portals.

5. If you represent the seller, how do you look after the buyer as well?

Building a good relationship with the buyer is highly important during the procedure of property acquisition. A professional agent will always take care of both the buyer’s and seller’s needs.

6. What issues can a seller face when dealing with more than one agency?

When dealing with several parties, you will be confronted with different opinions regarding the property cost. Select agents will artificially increase the price of a unit just to obtain the listing from the seller. With multiple brokers working on the same listing, the seller will also not be able to take advantage of the best an agency has to offer. The agencies may not go above and beyond due to the lowered probability of selling the unit.

7. What factors should a seller consider when choosing an agency to work with on an exclusive basis?

Firstly, you should take into account the image and reputation of the agency and the degree of their exposure. For instance, Metropolitan Homes has an extensive client network across Europe, the US, Asia Pacific and CIS countries. When a real estate owner is trying to sell one or more units, having access to this database is highly beneficial.

Secondly, the agency’s ability and process/procedure to close transactions should not be overlooked. There are multiple steps to closing a deal on the secondary market; some agencies, which are smaller and less experienced, may not have the capability to handle such transactions.

Metropolitan Homes provides full accompaniment at every stage of the entire transaction. Our services encompass support and advice regarding the legislative system, conveyancing and consulting without the need for third parties.