When diving into home ownership, you may notice words and terms flying around that you don’t understand. To avoid overwhelming you with the ins and outs of the real estate language, let’s start by talking about the difference between an exclusive and non-exclusive listing.
Exclusive Listing: An exclusive listing arrangement means you are granting your agent with exclusive access to find a buyer for your home. With this type of agreement no other agent will bring potential buyers to your home because only the listing agent is entitled to the commission. After an agreed period of time, you can arrange with your agent to have the listing appear on the MLS.
Non-Exclusive Listing: A non-exclusive listing arrangement means your listing will be posted on the MLS system and other agents will have the opportunity to bring potential buyers to your home. The advantage of this type of arrangement is the exposure of your home. Your listing will be syndicated to various websites including remax.ca which allows potential buyers and agents to consider your home. Non-exclusive listings are the most common type of agreements in the Canadian Real Estate market.