{"id":1,"date":"2015-12-21T12:33:35","date_gmt":"2015-12-21T19:33:35","guid":{"rendered":"http:\/\/www.century21yk.ca\/blog\/?p=1"},"modified":"2022-03-05T09:56:10","modified_gmt":"2022-03-05T16:56:10","slug":"exclusive-listings-vs-mls-listings","status":"publish","type":"post","link":"https:\/\/www.century21yk.ca\/blog\/2015\/12\/exclusive-listings-vs-mls-listings\/","title":{"rendered":"Exclusive Listings vs. MLS Listings"},"content":{"rendered":"

Over the last few years we’ve had a lot of home sellers ask us to explain the difference between\u00a0Exclusive listings and MLS\u00ae listings. \u00a0Exclusive listings are a bit controversial<\/a>, and are rarely seen in Yellowknife, but there is at least one type of situation where\u00a0they are potentially preferable to MLS\u00ae listings.<\/p>\n

The MLS\u00ae, or Multi-Listing Service\u00ae, is a co-operative marketing and information exchange agreement between the Realtors\u00ae in a given city or area. \u00a0In Yellowknife the MLS\u00ae is operated by the Yellowknife Real Estate Board<\/a> and all sixteen of its members use it to help market their listings. \u00a0When your home is listed through the MLS, you have one REALTOR\u00ae, known as your \u201cListing Agent\u201d, advertising your home, but all the other Yellowknife Realtors\u00ae compete with each other to find you a buyer. \u00a0So basically, you get sixteen Realtors\u00a0for the price of one.<\/p>\n

Another big advantage of MLS\u00ae listings is that they are\u00a0advertised not only on your listing agent’s website, but\u00a0on Realtor.ca<\/a>\u00a0as well. \u00a0Realtor.ca is a website operated by the Canadian Real Estate Association.\u00a0 It is the number one real estate website<\/a> in Canada and is relied on very heavily by buyers moving to Yellowknife from outside of the territory.<\/p>\n

When a seller agrees to an Exclusive listing, she is instructing her listing agent to not use the MLS\u00ae\u00a0to assist in the\u00a0sale of her home. \u00a0Only her Listing Agent\/Brokerage will be able to bring in a buyer and her listing will not appear on Realtor.ca. \u00a0In other words, she is giving her Listing Agent the exclusive right to sell her home.<\/p>\n

Clearly, from a marketing perspective, an MLS listing has a big advantage over an Exclusive listing, but there can be situations where Exclusive listings are appealing. \u00a0For example, if a homeowner\u00a0doesn’t want to publicly broadcast the fact she is selling her\u00a0home she may list Exclusively so that the sale can be conducted in a very quiet and controlled manner.\u00a0\u00a0This is the only type of situation<\/a> in which we at Prospect Realty would agree to an Exclusive listing, and it occurs very rarely. \u00a0In 99%\u00a0of sales, it is in the homeowner’s\u00a0best interest\u00a0to advertise as broadly as possible, and to involve as many Realtors\u00a0as possible.<\/p>\n

Arguments are sometimes made<\/a> for Exclusive listings in situations where a property is expected to be very hard to sell, or where Sellers are unwilling to pay for full marketing services, but in our opinion the potential hidden costs of limited marketing \u2013 including a longer than necessary sale period and a lower final sale price \u2013 are much higher than perceived benefits.<\/p>\n

By listing your property through the MLS, we leverage our own advertising expertise with the direct sales expertise and competitive nature of sixteen professional Yellowknife Realtors\u00ae and thousands of Buyer\u2019s Agents across the country through Realtor.ca.\u00a0 It\u2019s hard to argue that this is a very powerful tool, and is likely\u00a0the number one reason sellers choose to list through Realtors\u00a0in the first place.<\/p>\n

If you’re not sure if your listing is Exclusive or MLS, just take a look at your feature sheet on your listing agent’s website. \u00a0You should \u00a0be able to find either the word\u00a0Exclusive,\u00a0“EXCL”,\u00a0MLS, an MLS number,\u00a0or sometimes the MLS logo\u00a0at the top of the page.<\/em><\/p>\n

The trademarks\u00a0REALTOR\u00ae and\u00a0MLS\u00ae\u00a0are owned or\u00a0controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals\u00a0who are members of CREA (REALTOR\u00ae)\u00a0and\/or the quality of services\u00a0they provide (MLS\u00ae)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Over the last few years we’ve had a lot of home sellers ask us to explain the difference between\u00a0Exclusive listings and MLS\u00ae listings. \u00a0Exclusive listings are a bit controversial, and are rarely seen in Yellowknife, …<\/p>\n","protected":false},"author":3,"featured_media":8,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[53],"tags":[9,10,11,12,13],"class_list":["post-1","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-and-advocacy","tag-northwest-territories","tag-real-estate","tag-advertising","tag-website","tag-excl"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts\/1"}],"collection":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/comments?post=1"}],"version-history":[{"count":5,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts\/1\/revisions"}],"predecessor-version":[{"id":1129,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts\/1\/revisions\/1129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/media\/8"}],"wp:attachment":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/media?parent=1"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/categories?post=1"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/tags?post=1"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}