4 Reasons to Avoid Open Listings

With open listing your property can be listed with multiple agents and you are not responsible for commission, unless one of the agents brings the buyer. Sounds good? Well, here are four reasons that open listing is not a good idea.

 

1. Lack of Motivation

Selling your property will be a long-shot for the agents. They will have one in many changes of selling your property. Therefore, they will not have the motivation to work hard or to invest time, energy or money to market your property. There focus will be with the properties that are listed exclusively with them.

2. Lower Sale Price

When a potential buyer asks the agent 'what is the lowest they would take?', the agent knowing that other agents could have been asked the same question will quote rock-bottom price in order to secure the sale over the other agents.

3. Showing Desperation 

When potential buyers see multiple signs in front of your property or see your property advertised multiple times by different agents they will get the feeling that you are desperate to sell and will give low offers.

4. Your Property will Become a Sign Magnet

The agents will be happy to put their sign in front of your property to promote themselves and their brand.