Some vendors think that the best way to market their property is to list it with two or more agents. In other cases where a property hasn’t sold with one agent, thoughts turn to giving it to another agent as well. The logic is that more agents equal more exposure.
This is rarely the case. Agents can’t afford to spend time and money coordinating a tailor made marketing programme if the property could end up being sold by another agent through sheer fluke. The same work done on an exclusive listing will usually result in a better sales result in a shorter period. In fact, sales rates and prices show homes that are co-listed take longer to sell and sell for less than the asking price.
The majority of real estate buyers use the internet as their main searching tool. Listing your property with more than one agency can be confusing for buyers, as they are likely to be viewing duplicates of the same property on each website.
It’s only natural that agents will be more energetic with their own exclusive listings, and with an exclusive agency the vendor knows there is someone who is accountable.
How do you hold lots of different agents responsible for what is happening? Who is ultimately responsible for the property being left secure or everyday instructions about pets or curtains, let alone why the property isn’t selling?
The agent who puts the highest price on your property is not necessarily the one with the expertise to achieve the best price. Likewise, agents who offer the lowest commission often can’t afford to put together the kind of marketing programme that will achieve the best result.
The important thing is to choose the right agent in the first place. If you do your homework, you should have a great experience working as a team with your agent to get you the best result.