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heavenofhellofheaven
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Joined: Thu Dec 08, 2016 2:13 pm

Exclusive listing vs MLS

Thu Dec 08, 2016 10:34 pm

Hi there everyone. I am new to this forum. I live in E Van.

A few weeks ago, a real estate agent knocked on my front door and asked me if i am interested in doing a land assembly on our block. I was like sure if the price is right. A week later, our whole block had a meeting with that agent. The meeting didn't go well, and we don't like the agent. So, after knowing our block has a potential for redevelopment, we contacted other real estate agent to see what they can offer. we have spoken to four real estate agents. All i can say is that i think all of them are really shady. (we asked them question they thought we have no idea about it).

one of the agent proposed we should list our properties exclusively. His reason is that we can use blind bidding on exclusive listing, and hope for a biding war between the developers. He also said that in most case the developer would pay him the commission. (our sellers side don't have to pay the agent) .At first, i thought this is a good strategy. Then i have asked myself, it will not make sense if he is getting less commission given by the developer than our standard commission that we would have given him. (possible double ending deal, backhand deal?)

One of the disadvantage of exclusive listing i can think of is that, there is no third party to record all the offers given by the buyers. And the agent has the power to choose whichever buyers they prefer. (just my belief, i am looking for real answer)

 pros and cons of exclusive listing.....What do you guys think? 
 
oli
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Posts: 67
Joined: Fri Sep 04, 2015 10:00 pm

Re: Exclusive listing vs MLS

Fri Dec 09, 2016 11:14 pm

I'm not familiar with exclusive listings but what you are describing does sound shady.

1)  If only the agent sees the offers, then he can easily deal 'under the table' with the bidder who gives him the most commission.
2)  Even if he tells you the developer/buyer pays the commission - you are also indirectly paying for the commission.  (ie:  Whatever the developer pays to the agent means less $ paid to you for your property)  This is exactly what happens today with every RE tx where people think only Sellers pay commission and Buyers don't.  

On a somewhat related note, did anybody notice that land assembly sales have slowed down alot lately?  I mostly drive by the Oak/Granville Marpole area and many of the for sale signs look like they have been on for >6 months... and also planned developments look like they are stalling... like those fancy townhouses.  But if you look further up Oak/33-46, they get built so fast!   
 
heavenofhellofheaven
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Joined: Thu Dec 08, 2016 2:13 pm

Re: Exclusive listing vs MLS

Sat Dec 10, 2016 10:20 pm

Hey Oli 
thanks for the comment
Yes. That is why i want to see if is there is any regulation on the exclusive listing. If would be nice if someone has done it before and share their experience here. 

From what i know now, so many real estate agents are looking for land assembly development in e van.
 
heavenofhellofheaven
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Topic Author
Posts: 3
Joined: Thu Dec 08, 2016 2:13 pm

Re: Exclusive listing vs MLS

Mon Dec 12, 2016 2:05 pm

hello there...............

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