A client contacted me the other day about viewing a home listed by another agent but was told that the listing was an “exclusive” listing. This doesn’t happen often but here is what it means in Edmonton.
This is basically an old phrase or way of saying this home is not on the MLS® system. It was very prevelant in the late 80’s, but became very rare in recent years. I’m seeing a small resurgence in this type of marketing in Edmonton.
What is an exclusive listing?
Basically when you see it advertised it is referring to a property not being marketed on the MLS® system, but the seller is represented by an agent.
Is an exclusive listing the same as an exclusive seller representation agreement?
Yes and no. Both agreements might provide that the agent representing the seller have the exclusive right to represent the seller. However, an agreement commonly referred to as an “exclusive listing” provides for no marketing on the MLS® system.
Can my agent show me an exclusive listing even if it is not on MLS?
Yes, unless the seller specifically excludes someone for showing their property.
Can my agent show me an exclusive listing even if the buyer’s agent’s commission is $0?
Yes, but I’m not sure why they would want to lend their experience, skill or time to a transaction that pays them nothing. If you have a representation agreement with your broker/agent, they will show you every type of property that matches your criteria, including exclusive listings and homes that are for sale by the owner.
About Sheldon Johnston
Sheldon is very familiar with the ins and outs of real estate; he has been licensed to sell Real Estate in Alberta for over 20 years. Sheldon has served on the Real Estate Council of Alberta, the Real Estate Insurance Exchange and the REALTORS® Association of Edmonton. Find Sheldon on Twitter @edmontonsheldon.
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