While a majority of the real estate industry believes agents are the ultimate beneficiaries of an exclusive listing system, many agents still believe there are rewards for vendors who list their properties exclusively.
In a recent Real Estate Business straw poll, 66.3 per cent of 534 respondents claimed agents are the main beneficiaries of an exclusive listing system, but more than a third (32.6 per cent) said the system favours vendors.
Kingsley Looker, sales executive for Cunninghams Property in Balgowlah Sydney, told Real Estate Business exclusive listings are about the control of the property and achieving the best possible result for the vendor.
“When a vendor lists their home exclusively with an agent they are giving the agent complete control over the property. There is only one captain on the ship and this can aid the transaction,” Mr Looker said.
“I don’t believe it is in the best intentions for the vendor to have three different agents singing three different keys – it rids consistency when marketing the property.”
But while Mr Looker believes an exclusive listing favours the vendor, he conceded that some agents will only take on exclusive listings for their own advantage.
“Obviously agents will benefit as they are the ones that get paid. With no competition it comes down to whether the agent can complete the transaction and take home the commission,” he said.
“At the end of day I think both parties benefit, but the main focus is on vendors. Our job is to sell their property in a timely fashion and achieve the best possible price- this is how we get paid.”