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What is an exclusive and shared exclusive contract?

July 28th 2023
In this article we will explain what exclusive and shared exclusive contracts are in an easy-to-understand way.

You have decided that it is time to sell your house, but first you have to choose a real estate agency that you trust and the type of contract you agree to have with them. There are different types of contracts, how do you know which one best suits your needs. What are the differences? Exclusive contract This is a private contract between the owner of the property and the real estate agency in which the seller agrees that only this real estate agency has the rights to sell the property for a specific period of time, usually 1 year, and is signed by all parties involved in the sale process (notary, the seller and the buyer). In addition to having exclusivity over the sale, this type of contract also defines the price of the property, term of exclusivity and the fees. Advantages By putting your property up for sale with an exclusive contract you ensure that the real estate agency will put a lot of effort into selling it, using the best quality advertisement and marketing strategies so that your property has the exposure it deserves to attract the attention of potential buyers. They will also take responsibility for promoting and selling it as quickly as possible. Shared exclusive contract This type of contract allows the owner of the property to let more than one estate agent sell the property. The agencies agree to keep the price and split the fees in case of a sale. This way you know that your property will be displayed not only on one portal, but on several others and all of them will have an interest in making the sale. Advantages With this contract you have a large number of agents at your disposal, more potential buyers, advertisement of your property on different websites, and possible shortening of the selling period. Now that you know the types of contracts when selling your property you can decide which one is best for your needs. Take your time to think about it and if you have any questions, do not hesitate to contact us. Coldwell Banker agents are here to help you in any way possible.

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