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REAL ESTATE AGENCY APPOINTMENT

 

TYPES OF REAL ESTATE AGENCY APPOINTMENT

  1. EXCLUSIVE AGENCY - This refers to the instruction from a principal to a single estate agent to act on his behalf. The principal may make introductions but will leave the closing of the transaction to the estate agent. The principal must pay the appointed estate agent the agreed fee even if the estate agent was not the effective cause of the transaction.

  2. AD HOC BASIS OR COMMONLY REFERRED TO AS OPEN LISTING - In this case, the principal can engage an unlimited number of estate agents on an ad hoc basis and fees are paid only on successful conclusion of the estate agency transaction.

  3. SOLE AGENCY - Just as in exclusive agency, a single estate agent is engaged. The principal may, however, wish to reserve the right to close deals himself and is not obligated to pay the agent his fee in addition to making introductions or an arrangement may be made for a discount in fees where the principal plays an active role.

  4. SOLE JOINT AGENCY - This is a variation of the Sole Agency. The estate agent works together with the principal as a team and the fee is divided on a pre-agreed formula. The principal has the flexibility to compensate additional estate agents and at the same time maintain the advantage of having the estate agent in control.

  5. JOINT AGENCY - This is where more than one estate agent is appointed and only the estate agent who closes the deals gets paid. The number of agents appointed is limited and each is aware of the appointment of the others.

** D-Choice Properties Only Accept Exclusive Or Ad-hoc Agency Appointment **

The 7 Good Reasons Why You Should Appoint An Exclusive Real Estate Agent

1)   Exclusive agents work for the client.  The strong professional Agent works for the Client - that is the party he has a written agreement with. It is no secret. Buyers and potential tenants know it. Many Agents do not know who they are working for. However, an exclusive listing removes all doubt and in this respect, favours the interest of all parties to a transaction.

2) Better agent co-operation Exclusive listings favor better co-operation between agents and ensure greater exposure and coverage. Agents seldom co-operate on open listing. They are hesitant to provide information for fear of losing any limited control they might have. Success minded real estate agents would never reveal an uncontrolled piece of property to another agent.

3)  Exclusive listings simplify negotiations An Agent with an "open listing" will usually write any offer the buyer or tenant wants to make. Why not? He has got nothing to lose. With an exclusive listing, the negotiations are simplified because the Agent can take the time to get the buyer or tenant's best offer the first time. This tends to eliminate the protracted haggling characterized by offer, counter offer, counter-counter offer etc, which finally leads to a "no sale" anyway.

4)  Exclusive listings save the client time and money Many Clients think a number of "open" listing will get them better service than one "exclusive". This is not true. In addition, many sellers argue that they do not want to "tie" the property up on "exclusive". However, when the property is in the hands of an effective Agent, it is not tied up. In fact, until it is listed exclusively, it truly is tied up.

5)  Exclusive listings help the client make decisions An exclusive listing helps the Client to think straight. Too many times where a Client has scattered open listings around, he is faced with an impossible decision-making situation, especially when each open listing agent promises to bring an offer next week. Most of these promised offers never materialize.

6)  More accurate information Open listing agents seldom have an exact idea as to the Client's price or terms. An exclusive listing, however, generally leads to the Agent being furnished with complete information on the property. No professional Agent who insists on an exclusive listing is going to leave a buyer or potential tenant without complete and accurate data on the property.

7)  A higher price is usually obtained With an exclusive listing, the Agent's position is strong. He can speak with authority on behalf of his Client and insist on the buyer or tenant's best offer the first time. The exclusive Agent can fight for this top-dollar offer price than the Client negotiating for him self because of the advantage of bargaining from the third position without committing the Client. The Client can obtain the maximum price for this property only through the essential third party role of the professional Agent

Why You Should Appoint D-Choice Properties As Your Exclusive Real Estate Agent?

  • 1. We commit to work to towards your interest.

  • 2. We go all out to market your property to ensure your property of greater exposure.

  • 3. We guarantee you weekly placement of media advertisement.

  • 4. We place prominent signboard at your property.

  • 5. We effectively market your property with other agencies.

  • 6. We secure for you the best offer, as we are no longer subject to prospect's counter offers through other agents.

  • 7.  We save you money by giving you maximum discount allowable under the estate agency act.

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