Exclusive versus Non-Exclusive versus Direct Listings…Say What? All I want to do is Sell my Costa Rica Property!
In Costa Rica and even in our local Costa Ballena market here along the South Pacific coast, you’ll hear a number of industry terms thrown about when it comes to listing your home or property for sale with a real estate company. To many people, these industry terms are confusing as heck. So, thus, we’re spelling it out…Real Estate Listings – Defined.
Huh? What Do These Terms Mean Anyway?
This page is to define the types of listings we offer here at South Pacific Costa Rica Real Estate and what each means to YOU as the Seller.
Real Estate Listings – Defined
We offer two types of Real Estate Listings for our Sellers. They include:
- Non-Exclusive / Direct Listing:
- A non-exclusive / direct listing is a simple one-page agreement between us (South Pacific Costa Rica Real Estate) and you (the Seller) which outlines that you are authorizing us to market and sell your home.
- This non-exclusive / direct listing is considered a legally binding agreement for a specific amount of time.
- With a non-exclusive / direct listing, South Pacific Costa Rica Real Estate gets paid a commission when we bring a client to you (including when another broker brings a client to us via our marketing efforts).
- With a non-exclusive / direct listing, you as the Seller have every right to sign similar agreements with other brokerages so that they too can market your home. If you make a similar agreement with another broker (directly) and they bring the client to you, South Pacific does not get paid.
- Exclusive Listing:
- An exclusive listing is a one-page agreement between us (South Pacific Costa Rica Real Estate) and you (the Seller) which outlines that you are authorizing us to market and sell your home. But the terms of the one-page will read “Exclusive” in a couple of different places and there’s more detail as to what we provide to you in terms of marketing services.
- The exclusive listing is considered a legally binding agreement for a specific amount of time.
- With an Exclusive Listing, we become your only point of contact for marketing your home for sale in the market.
- That means we will send your listing out to other brokers, and advertise it online in various venues in a number of ways that we would not if you signed a non-exclusive / direct listing. (We can discuss the specifics of this with you, when we speak with you about this option.)
- It also means that when anyone wants to see your home/property, they need to call us first so that we can accompany them.
- This is part of the Exclusive Listing service. (Full service, if you will.)
- For many people, having one contact is easier for them. For others, it does make sense, as the various brokerages (including ours) have different avenues of marketing. With an Exclusive Listing, you may get wider coverage within a particular broker’s advertising, but the flip side is that you may be missing out on the audiences that the other brokerages in the area cover.
- When you sign an Exclusive Listing with us, that means that South Pacific will get paid half the entire commission for your home/property when it sells, whether we sold it or whether another broker sold it. This is important, because many Sellers don’t understand this, but these are the facts. And this is true if you sign an Exclusive Listing Agreement with another broker too; they will get paid in the same manner.
- The idea behind an Exclusive Listing is that (a) it’s easier for the Seller who prefers not to coordinate and communicate with multiple brokers for information, marketing, visits to the home, showings and negotiations, but that (b) the brokerage who has the Exclusive Listing gets paid some commission (even if another broker brings the client) since they are marketing it more and to a wider audience.
We hope this has made clear what the differences are between a Direct/Non-Exclusive Listing and an Exclusive Listing. We offer both options to our Clients.
Remember: It’s YOUR Costa Rica Property & YOUR Choice
As the Seller, you need to decide which route is best for you. Here at South Pacific Costa Rica Real Estate, we’re happy to listen to your needs and make a recommendation to you based on what best serves YOU, not what might best serve our pockets.
We operate by the Golden Rule – remember that one from kindergarten? – Treat Others in the Manner You Would Like to Be Treated.
We hear stories every day – sadly – even in our tiny Costa Ballena market – that some of our fellow real estate contemporaries are attempting to get Sellers to sign Exclusive Listings without them being clear on what it means and how it serves them.
Our stance is that – what’s best for the the CLIENT always serves us. We don’t force feed you to sign things that don’t make sense for you, nor attempt to convince you, and we condemn that type of unethical behavior. It’s shameful, really, and it brings the entire profession of real estate down. 🙁
Ready to do business with a Legal, Licensed, Ethical Real Estate Company that actually listens?
You’ve found it! We’re here! Contact Us today.