We asked author Jennifer Allan-Hagedorn to answer questions based on her teaching and experience in the real estate industry. Jennifer is a regular contributor to Realty Times and RE/MAX Times. This week she answers the question of whether or not to agree to a "listing exclusion."
Question: "What if the seller asks for a 'listing exclusion?'"
JA: For those who haven’t encountered a “listing exclusion” yet, it’s simply a request from a seller that if a certain person or persons buy the home after it goes on the market, your listing commission won’t apply. For example, perhaps the seller knows a guy at work who says he’d be interested in purchasing the house, but he’s still thinking about it. Your seller doesn’t want to wait for him to make up his mind to go on the market, but neither does he want to pay you if the guy actually ponies up. So, the seller asks you to “exclude” this particular person from your listing agreement.
Should you do it?
My advice? Sure. Don’t argue, don’t explain, and don’t make a big deal out of it. Write in the exclusion and get on with putting the house on the market. The chances that this guy is actually going to purchase the house are slim, but if he does, the seller will probably need your assistance to get the contract written and to closing. For which you most certainly may charge a reasonable fee.
No reason to go to battle over this. Save your energy for bigger things!
Subscribe to "Confidence Builders for Rookie Real Estate Agents" (a free newsletter)
Guest Author Jennifer Allan-Hagedorn has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm. You can also visit her online at www.sellwithsoul.com or attend one of her free teleseminars on a variety of topics of interest to the real estate community.
Comments