Using 2 Or More Agents

Sack the agent at anytime

Using 2 or more agents doesn't seem like a bad idea in the sense that you can sack any real estate agent, at any time, if you are not happy with them.

Two main problems:

The main problems with using 2 or more real estate agents are:-

1. You will reduce the chance of achieving the highest sale price

The reason an open listing can ultimately affect the sale price you receive is because, as in the Multilisting method, 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)

Because an agent knows that other agents also have access to your property they feel the need to "lure" the buyer to use them, and now the agent is under pressure to perform, but not for you the seller, for the buyer.

Serious buyers will notice that you are listed with numerous agents. They will investigate with all the agent's, one by one, their thoughts on a possible sale price and they will always choose the one that will save them the most money on the purchase.

2. The agents will almost certainly make little or no effort to sell your home

The reason for lack of effort when you have a number of agents selling for you 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. With an open listing if you are not the selling agent you do not get paid a cent.

Dire consequences

Essentially using more than 1 agent does not create competition between agents as you would believe. The seller is the loser in the cash department. Open listing may sound appealing but there are consequences that you will need to look out for so do your homework and choose wisely.

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