Why should I choose an exclusive agreement?
11-30-2009
The best answer to the question about the benefits of an exclusive agreement may be a paraphrase of the saying stating that when everybody’s looking after your property, it might be that no one’s really looking after it. An extension of this answer is found in several crucial elements justifying the benefits of signing an exclusive agreement.
Why should I choose an exclusive agreement?
11-30-2009
The best answer to the question about the benefits of an exclusive agreement may be a paraphrase of the saying stating that when everybody’s looking after your property, it might be that no one’s really looking after it. An extension of this answer is found in several crucial elements justifying the benefits of signing an exclusive agreement.
One agency = one Broker or their subordinate Agent – you need to contact one person only, you take calls from just one Broker or their Agent, and only one Broker or their Agent coordinates your meetings. There is no need for you to repeat the same information concerning your property to multiple Brokers – you only do it once, saving a great deal of your time, and the one Broker or Agent knows all the advantages and disadvantages of the property. There is no need for you to sign multiple agreements, and later trouble yourself with whether or not terminate the agreements or whether or not inform the other Brokers of the transaction. One agreement brings so many advantages.
Better chances of reaching prospective customers – after signing an exclusive agreement, your offer is, within 72 hours, submitted to the MLS System, reaching over 400 Brokers of the Warsaw Association of Real Estate Brokers (Warszawskie Stowarzyszenie Pośredników w Obrocie Nieruchomościami). This means a greater number of potential buyers will be informed of your property – but they will not contact you directly, instead communicating with the Broker or their Agent, with whom you had signed an exclusive agreement. This, too, means saving your time, as the Broker or their Agent will coordinate the entirety of the activity related to the sale or rental of your property.
Better transaction security – the Broker or their Agent with whom you had signed an exclusive agreement are required to conduct a detailed background check of the prospective buyers – which means you will always know who comes to see your property. One of the vital elements of transaction security is a mandatory liability insurance of the Broker professionally responsible for the execution of the agency agreement.
Up-to-date offer – thanks to signing an exclusive agreement you are sure that the information contained in your offer are always up to date. You do not need to worry about whether, every time you alter the details or the price, you should inform every single agency you have agreements with. In case of an exclusive agreement you only contact one Broker or their Agent responsible for your offer and supply them with the necessary information, and it is up to the Broker or the Agent to inform all the interested parties about the changes. This means you will never be faced with a situation where you can find, for instance, ten slightly varying offers on your property at the real estate websites, with each offer quoting a different sale price.
Time saving – if the property to be sold or rented is no longer occupied, a smart decision would be to give the keys to the Broker or their Agent with whom you had signed an exclusive agreement; you save time as you do not need to come every time the Broker or their Agent take a potential customer there. This solution, however, is only available in the case of signing an exclusive agreement. You can also delegate the entirety of matters related to the sale or rental of your property (from obtaining the real estate documents, through coordinating the process of sale or rental, to the final transaction) to the Broker with whom you sign an exclusive agreement.
And so: one agreement, many benefits.