NYC investment properties are in high demand, with the real estate market rebounding in the past year. If you’re in the market to sell your property, you will need an experienced team to help get it sold. Like any relationship, when looking for who should sell your property, you need to find the right fit.
When choosing the right firm, you’ll find what seems to be unlimited options. What’s important is finding the right firm and process to help you sell your property. Many owners decide between hiring an exclusive agent or working with numerous agents off-market.
To achieve the highest ROI for your investment property, you’ll want to weigh the pros and cons of each option during the sales process. The best way to do that is to have all the information about each option, especially understanding the difference.
What is an Open Listing Vs. Existing Listing?
In an open listing, you enlist multiple agents from multiple firms to work on selling your property on your behalf. The agent who brings you the buyer gets a commission. In contrast, an exclusive listing is where you work with one agent/team and firm to sell your property exclusively. This is the one valid option where the broker’s interest is to get the best outcome for a seller rather than make a deal happen. Both options have their benefits. The question is, what are your goals, and what’s important to you as the seller.
Why an Open Listing is Appealing and Why You Should Almost Always Choose an Exclusive One
An open listing can be beneficial to the sale of your investment in limited scenarios. Sometimes owners feel that having more than one agent working on their sales benefits them. Sometimes owners want a quick transaction. A common fear is being locked into an agreement with a specific agent and leaving an owner feeling limited. “I get a ton of calls and a bunch of mail; I’ll just sell it on my own”
The downside is that no one is looking out for your best interest. Exclusive agents have a fiduciary duty to represent the owner’s best interest. An exclusive listing is the best way for an owner to ensure their property is appropriately exposed and put through a sales process to get the best outcome, which includes the highest price with the best terms with a qualified buyer. They hire an agent to represent them instead of several agents representing buyers they bring to the deal.
Benefits of Hiring IPRG Exclusively to Sell Your Investment Property
Working exclusively with IPRG is your best option. You are hiring a firm with a track record and a reputation for getting properties sold in the quickest time with the highest return on investment. We can tailor our marketing process on a property-by-property basis to achieve optimal results. Our team-based model leverages experienced brokers and market-wide coverage to maximize property exposure.
Hiring the right broker is making the last investment in your property. You only get to sell once. Make sure you choose the right option to market your property correctly to its best potential to bring you the best price and maximize your ROI. Don’t leave money on the table.
Open or Exclusive Listing? Make the Right Decision with Us
Picking between an open or exclusive listing for your property is ultimately up to you and your selling goals and needs. If you want someone who will make you their priority throughout the sale, and get you the best results, reach out to our dedicated team at IPRG today.