What Sellers Should Know About Exclusive Listings

As one of the most active markets in the entire world, real estate in Toronto can sometimes feel like the wild west. If you’re looking to sell your home, you’ll want to partner with a local real estate agent who can help guide you through the ever-changing market. 

However, one thing sellers may not realize (especially those who haven’t sold a home before) is that not all real estate agents take the same approach. Instead, every agent will have their own arsenal of strategies, resources, and connections to help you sell your home. 

If you’re thinking about selling your West Toronto home and have started researching potential agents to hire, you may have come across some that offer to sell or list your home exclusively. 

The term ‘exclusive’ has a varying list of connotations, so what does it mean in the context of selling a home? In this blog, we’ll look at exclusive listings in West Toronto real estate and what sellers need to know about this specific type of tactic. 

Selling your home in search of something smaller? Click here to read our blog about why downsizing is easier than you may think. 

Multiple Listing Service 

Before diving into what makes a listing ‘exclusive’, let’s look at the type of listing that you are most likely somewhat familiar with. In a traditional, non-exclusive listing, a home will be marketed publicly on the Multiple Listing Service (MLS) when it becomes available. MLS is essentially a centralized database of for-sale homes that real estate agents and buyers can browse to get a sense of what’s on the market. 

Preparing to sell your home? Explore some of these resources from our blog for helpful insights.

• Selling Your Home After a Divorce or Separation
• The Power of Staging a Home to Sell
• Should You Buy or Sell First?

What Are Exclusive Listings?

Speaking generally, a home that is listed exclusively doesn’t appear on MLS. Instead, the seller’s real estate agent markets the home to a smaller, more-exclusive network of buyers. However, there’s an important caveat to this definition. 

Because the term is somewhat open-ended, not every agent will have the same approach to or definition of an exclusive listing. Some agents may use exclusive listings to protect the interests of the buyer, while some may be trying to protect their own brand. Other agents may take a hybrid approach, or not offer to list your home exclusively at all. 

So if you’re interested in selling your home, you’ll want to understand how an agent’s approach to listing may impact your experience, results, and expectations. 

Marketing Based on Your Goals

As a seller, getting your home out to the right audience once it’s listed will be a big part of your success. In certain cases, an agent may feel that listing a home exclusively – either temporarily or permanently will be a helpful way to optimize buyer interest in your property.  

Nine times out of ten, exclusive listings are just one piece of a larger marketing strategy. However, there may also be instances where a seller is looking to add a layer of privacy to their sale. For example, some high-profile sellers (or those who simply appreciate privacy) may not want their neighbours to know about their intentions to sell. 

Already thinking about where you’ll live next? Explore these blogs for tips on home buying in West Toronto’s active market. 

• Should You Buy or Rent as a Downsizer?
• How Buying a Condo in West Toronto is Different Than Buying a House 
• The Real Estate Questions You’re Too Afraid to Ask

The Common Denominator Of Great Sales 

At the end of the day, sellers in West Toronto who are looking to make the most of their home sale should put a lot of thought into the agent they work with. 

In today’s market, getting the best result requires localized expertise and powerful marketing. While exclusive listings can be useful, they’re only one piece of the puzzle. Therefore, you’ll want to hire a real estate agent with exceptional strategies to maximize your return. That’s where we come in. 

With decades of experience selling homes in Toronto’s west end, the Smith Proulx Real Estate Team can help you achieve a smooth, high-result sale. With our unique 9-step plan, we’re able to help sellers reach and exceed their goals. 

Looking for a real estate team that can guide you to the best possible result in your home sale? The Smith Proulx Team can help. Send us an email or call 416-769-6050 to get started.