Generally speaking, we are working with a huge range of sellers, buyers, and investors. Some of the sellers ask about the way of listings. That is why we decided to explain a little more about Listing on MLS or Exclusive Listing.
In Ontario, the majority of residential or commercial properties go up for sale, by the selling agent, on the MLS. This online real estate database allows any other member of the same real estate board to view the listing, and contact those trying to sell it. In addition, MLS stands for Multiple Listings Service.
An Exclusive Listing, on the other hand, is a property that is not on MLS by the seller’s agent. This listing is only available for agents and brokers, not the public.
Why would I choose to make my listing exclusive?
There are a couple of possible reasons, but one of the most frequent is the added level of privacy for the buyer.
- In order for a property to qualify for listing on MLS, the seller and his/her agent need to have agreed on a listing period of at least 60 days. An exclusive listing is a popular option for sellers who would like to enter into a shorter agreement at first.
- Many sellers would like to attract a very specific type of buyer or have in mind a sale arrangement that does not lend itself to MLS. In these situations, it can be helpful to list exclusively with a sales representative who is connected to that specific type of buyer.
- Also, Some Sellers don’t want their neighbors to know their property is for sale.
Additionally, there are many other reasons regarding Exclusive Listings. If you need our help, please reply!
BABAK MEHRABI, Real Estate Salesperson
Century 21 Heritage Group Ltd. Brokerage