Hi there everyone. I am new to this forum. I live in E Van.
A few weeks ago, a real estate agent knocked on my front door and asked me if i am interested in doing a land assembly on our block. I was like sure if the price is right. A week later, our whole block had a meeting with that agent. The meeting didn't go well, and we don't like the agent. So, after knowing our block has a potential for redevelopment, we contacted other real estate agent to see what they can offer. we have spoken to four real estate agents. All i can say is that i think all of them are really shady. (we asked them question they thought we have no idea about it).
one of the agent proposed we should list our properties exclusively. His reason is that we can use blind bidding on exclusive listing, and hope for a biding war between the developers. He also said that in most case the developer would pay him the commission. (our sellers side don't have to pay the agent) .At first, i thought this is a good strategy. Then i have asked myself, it will not make sense if he is getting less commission given by the developer than our standard commission that we would have given him. (possible double ending deal, backhand deal?)
One of the disadvantage of exclusive listing i can think of is that, there is no third party to record all the offers given by the buyers. And the agent has the power to choose whichever buyers they prefer. (just my belief, i am looking for real answer)
pros and cons of exclusive listing.....What do you guys think?