The advantages of an exclusive agency agreement
Text from 2021. Laws, rates and prices may have changed since then. Ask an agent
When they want to buy or sell a flat, many people decide to work with an estate agent. It is a good step, as it increases our chances of completing the transaction faster and at the price that satisfies us most. If, however, we want to speed up the whole process even more, it is worth signing an exclusive agency agreement (umowa na wyłączność) with the agent. What are the advantages of this arrangement? Find out in this article.
An exclusive agency agreement increases the agent's commitment
An exclusive agency agreement means that we entrust the sale or rental of our property to a single agent, rather than to several agencies, as with open agreements. This makes the agent more committed to completing the transaction and finding the best buyer for us. It is not only about the financial reward. An exclusive agreement also increases the agent's sense of responsibility for the whole process and means that they simply put more heart into achieving the best possible result.
People who sign exclusive agreements are usually experienced agents
It is also worth knowing that agents who offer to sign an exclusive agreement are usually aware of their competence and skills, which come from long experience in the industry. So when we decide to work exclusively with them, we can trust their qualifications and the tools they use. There is a much greater chance that with this form of cooperation we will come across someone competent who takes their work seriously.
An exclusive agreement increases the chances of achieving the most satisfactory price
Signing an exclusive agreement motivates the agent to sell the property at the best possible price. The amount of their remuneration depends on it, because agents receive a previously agreed percentage of the flat's sale price. This protects against a situation in which a less committed agent would underprice the flat just to sell it as quickly as possible. Knowing that the entire commission from the sale goes to them, they will do their best to present the property to visitors and prepare the best possible listing.
An exclusive agreement protects against a situation in which several estate agencies compete with one another to sell or let the property as quickly as possible. In such a situation, cutting the price just to close the deal as fast as possible is commonplace.
Contact with only one agent
If we opt for an open agreement, we must expect to be in touch with different people whose knowledge of our property's situation will vary. This arrangement is certainly not convenient and can cause a lot of irritation. By signing an exclusive agreement, we can be sure that the sale or rental of our flat will be handled by one person, who will oversee the whole process. Only that person will also be in contact with us, which will let us build a relationship that can help the transaction go through successfully. After all, it is more pleasant and more effective to work with someone we simply like.
You pay only once
A big plus of signing an exclusive agreement is the single fee, which includes all other costs. Under such an agreement, the agent takes care of every element of the process, from creating the advert and publishing it on property portals, through presenting the flat, to finally dealing with all the formalities connected with the sale.
Signing an exclusive agreement is definitely more cost-effective than looking for a buyer through an open agreement. With the former, we get greater commitment from the estate agent and can be sure that we are working with an experienced person who will make sure the transaction is completed on the best possible terms.
