Why Give a Broker an Exclusive Listing

June 14, 2010

San Antonio has bounced back from the recession in the first quarter more than any other major Texas city, according to the San Antonio Express News June 11, 2C. This is based on job counts, new home prices and other factors. But we are just a little better than we were 8 years ago.  The job count fell a bit in Quarter 1, but is picking up since April and we should be positive by Fall, according to Tullos Wells, economist.

Why is it Smart to Give a Broker an Exclusive Listing?

LOYALTY:  Brokers have a duty of loyalty to their clients who have engaged them to market their properties.  To take time away from listing clients to spend time on unlisted property is doing a disservice to those who have hired IRC as their Broker.

TIME:  With an Exclusive Listing, your Broker can afford to put more time and effort into understanding your property. As this is a commission business, brokers spend a great deal of unpaid time developing information on a property and market area.  Without an exclusive listing, the broker knows that another broker may go around him to the Seller directly, cutting him out of the commission.  This makes it unwise to spend time putting together information on an unlisted property and presenting it.

TIME:  When your property is listed with a capable broker who has spent hours delving into the characteristics of the property and the desires of the Seller and then building a thorough information package, it saves the Buyer’s agent a great deal of time.  It also conveys confidence that the information is accurate and reliable. 

TIME:  Buyer’s agents must be very careful of their time, too.  The Buyer’s agent may be gathering information on many properties to present to his client.  He often will not take the time on an unlisted property, because of the information he needs is not readily available.

CONFIDENCE:  A Listing Agreement specifies that the Seller will pay a commission.  Without a written agreement, the Broker has only the verbal assurance of the Seller that he will be paid at closing. 

COOPERATION:  Brokers work with other brokers. In my 25 years in this business, it is rare that a broker is so greedy that he refuses to work with other brokers.  No question these brokers are in the business, but they are few and all of the other brokers know to avoid them.

Investment Realty Company, L.C. will make a thorough market analysis of your property and the surrounding area to determine the best strategy for maximizing your profit.  We will be identifying current projects and new unannounced projects that will impact your tract.  We will gather comparable sales prices and asking prices of other parcels to help determine the property asking price. We will also analyze the highest and best use of the property to determine the best marketing strategy.

Investment Realty Company, L.C. will prepare an attractive marketing flyer as well as a detailed marketing package for presentation to prospective purchasers.  We will personally contact all the developers, users and brokers in our area that will have an interest.  We will also contact selective prospects in other cities that we feel will need to know about your tract.  IRC has an extensive network of contacts nationwide that we will use for ideas and locating prospects, including developers, users, civil engineers, real estate attorneys, municipal planners, economic development professionals, bankers, commercial lenders and appraisers.