Multilist Or Using More Than One Agent
Multilist is a method of sale using more than one real estate agent, the fees commissions and costs are payable to only the one real estate agent who sells the property.
In theory Multilist sounds good
that you can have 5, 6 maybe 10 agents trying to sell your property but let’s look at how Multilist works ? or indeed does Multilist work ?
The downside
Multilist or using multiple real estate agents can have a negative effect on your sale price! The main reason for this is that the agents will tend to focus more on selling the properties they hold as exclusive listings as it guarantees they will get paid all of the commission. (With a multi listed property agents will have to share the commission, which they don't like)
Let's all put our salesman's hat on for a minute... in which direction would you sway a buyer.. in the direction where you were personally going to get paid 100% commission, or only 50%?
Multi listing will also affect the sale price YOU receive because a buyer can now choose which agent they use to inspect your property. (and they will always choose the one that they think will secure them the property at the lowest possible price and let's face it, as a buyer, wouldn't you).
This is why choosing how your property is represented — and choosing the right agent in the first place — deserves careful consideration. iREC's Home Selling Advice provides an independent perspective before you commit to an agent or selling strategy.
Be aware of the pitfalls
In theory, the Multilist method may sound terrific but there are pitfalls that you will need to look out for (agents promoting multilist will paint a rosy picture but there are some very serious consequences that you need to be aware of) so do your homework.
If you have already appointed an agent and are concerned about how your property is being negotiated, see our Property Negotiation Service.
iREC — helping you stay one step ahead of the agents!
Want An Independent Perspective On Your Sale?
Whether you're considering using multiple agents, have already appointed an agent, or are simply unsure whether the approach being recommended is in your best interests, you don't have to make the decision without an independent perspective.
iREC's Home Selling Advice can help you understand your options, compare the advice you're receiving and make better-informed decisions before and throughout the selling process.
And choosing the agent is only the beginning.
Where appropriate, iREC's guidance can continue through the campaign, including buyer feedback, offers and negotiation, right through to contract and settlement.
If you are currently selling, or about to sell, and would like someone independent sitting on your shoulder observing the goings on, without interfering in the process, drop us a line and see how we can assist.
We understand that you might have only dealt with agents once or twice in your lifetime but we do it every day!
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