There are agents out there that offer and sometimes
promote “Exclusive Agency” listings. This is when the
property is not given maximum exposure by placement in the Multiple
Listing Service (MLS) and their agency is the only agency allowed
to bring in a buyer. This program is usually promoted under the guise
of a discounted commission to the seller. This is most often a FARCE
because selling real estate is a function of Exposure and Price. If
a good price does not have adequate exposure in the market place,
it decreases the likelihood of reaching true market value.
Most realtors subscribe to a spirit of cooperation among
brokers. A realtor must abide by MLS Rules and Regulations, and a
National Association of Realtors “Code of Ethics.” An
Exclusive Agency Listing most often violates this spirit of cooperation.
Furthermore, our local MLS, Sandicor, Inc., requires placement of
a new listing in the MLS within 24 hours. If the seller insists that
the listing not be in the MLS for a period of time (for various reasons)
MLS participants must have the seller sign an “Authorization
to Exclude” a listing from the MLS. This protects the seller’s
The Exclusive Agency Listing does not protect the seller.
It may often protect the self-serving agent who wrote the contract.
Although these are legal listing contracts, I believe that companies
that promote this type of listing should be banned from the MLS and
banned from any realtor association. There are rare circumstances
when short time frames are involved where this type of listing is
legitimate; however, it should not be promoted.