Open or exclusive real estate contract

Do you want to hire a real estate agency to sell your house? This is undoubted the best way to go. Before, know that are some points you should consider, before sign a contract. There is a real estate vocabulary, you might want to keep up with, so that in the end you can make a beneficial choice for yourself.

Know when you hire a real estate agency, you may hear this question – Do you want an exclusive or an open contract? In this article, we explain to you which is the difference between the two, for you get ready and know all the answers. Understand which one you'll benefit most from.

Open contract

The open contract, as the name tells, it means that several real estate agencies will represent your property. You will not have an exclusive real estate agent, working on your property's sell.

This system can represent more publicity, from several agencies. But it doesn’t mean it will give fast and efficient results. If many agencies advertise the property, distinct information may appear. This can lead to future buyers having doubts about the business legitimacy.

If you still decided to do so, choose to sign a contract with a few real estate agencies. Be consistent with the information that you will give to real estate agents. For last, be aware of social media posts about your property and guarantee that all are correct.

Know the agreed percentage, is only paid to the real estate agent who closes the deal. It is ordinary this system becomes more expensive than the exclusive real estate contract.

Exclusive real estate contract

In contrast to the open contract, this kind of system is only represented by one agency. Therefore, the owner will speak with one person. In short, it will be easier, the transmission of ideas and important information, among other things.

1. Speed in business

Another prove benefit will be the speed in business. The real estate agent knows that the property’s sell only depends on him. As a result, he will be more involved to realize that quickly.

As an exclusive agent, he will have more time and the will to search clients on the portfolio. There’s almost no need, to create adds on media.

2. Property promotion

The promotion of the property will be greater since there is no fear of another agency to achieve the business first.

The investment in the promotion will also be higher, simply because the return is guaranteed. The real estate agent will invest in professional photography and video for the property, or on the promotion, by the right internet channels. (know more about this and other subjects, in this article)

3. Protecting their interests

In negotiations, the real estate agent by accompanying you from the beginning of all process, he will know how to protect your interests. It is natural to create empathy. In this way, the expert will know the objectives that you want to achieve at the end of the business. In another way, it was difficult to pass on your ideas to several real estate agents.

4. Accountability

The success of the business will be the total responsibility of the real estate agent. So is the failure of it. It is clear that, if there is a responsible person, it is easier to find out which step did not work. This, in case the business goes bad. After that inquiry, it is possible, together with the real estate agent build a more efficient strategy.

Of course, both systems have their benefits for the business. The exclusive agent has a higher responsibility, as the commitment and dedication. In an open contract, if all the information were consistent, and if all the real estate agencies work for the same goal, everything will end in the best way.

In Casas Do Barlavento the choice will always be yours and commitment is guaranteed in all circumstances.