Sign Seller Exclusive Agreement? | 1% Commission OK?
Are you thinking of selling your house?
This is a follow-up video on another topic, how to sell your house with more offers, we have done previously.
Our team compiled a Sellers’ FAQ list and these are the top 4 questions
- Should I Sign an Seller Exclusive Agreement?
- Is 1% Commission okay?
- Is Home Staging Important?
- Can I be a DIY Seller?
Today, we are going to answer the first two questions.
📌 Question 1: Should I Sign a Seller Exclusive Agreement?
The common explanations for a seller exclusive agreement are:
- Sellers only need to deal with 1 agent and
- Exclusive agent will commit more time or resources to sell your property.
The reasons why sellers are against the idea of exclusive is that they are worried that they will be locked down for three months (i.e., the 3 months exclusive period). The owners probably felt that with multiple agents, there’ll be more buyers, which will lead to a faster transaction.
At the end of the day, I think the core issue is TRUST or rather the lack of it. My personal take is that, when you get more agents, you may get bigger exposure and sell the unit faster.
However, there is a high chance that the final transacted price might not be as high as when you engage an exclusive agent to solely market your unit.
Watch the full video for the pros and cons of having multiple agents
📌 Question 2: Is 1% Commission OK?
The market rate is 2% but we know that there are agents who charge 1% and even 3% for those more branded agents
If you have an agent who promises you sky high prices and charges only 1%, I think there are 3 questions you should ask him/her
Q1: Will your property appear on page 1 of the listing portals?
Q2: What will your property video look like?
Q3: Beside the listing portals, do you have Facebook or YouTube marketing plan?
Watch the full video for details
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Check out more Seller Tips here
Don't pay 1-2% agent fees when you can pay a fixed reasonable price. Try our services risk-free. Pay the fixed price after the sale of your home. No exclusive contract is required, so you can switch if you are unsatisfied with our services.
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