Traditionally in real estate, it is the vendor, not the buyer, that is the agent’s client. The homeowner is therefore the party that instructs the property broker to market, promote and sell his or her property. This relationship, or partnership in the selling of the house, is predicated upon a close relationship between vendor and real estate agent, and this usually is built upon exclusivity – i.e. giving your property for sale with a single agency that has the sole right to market it.
The agent may then use its own professional network channels to offer the house to a broader range of agents and potential buyers, and the owners are officially represented by a single company that enjoys exclusivity in return for its committed efforts.
Another longstanding tradition in real estate is that of local representation, a practice in which the property broker specialises in a particular area and market, and only directly lists, promotes and sells homes within a defined suburb, town or similar geographically determined area. The advantage of this is the fact that such an agent, rather than spreading his/her knowledge thinly across a large area, has often unrivalled expert understanding of the smaller area they specialise in. Their reputation and commercial networks within such a specific zone will also be very strong, and in giving your home for sale exclusively to a handpicked agent, you are ensured of a far greater level of commitment and investment of time and resources.
Advantages of exclusivity
This is especially important in the case of luxury properties, where discretion, professionalism and avoiding over-exposure of the home are all valuable factors contributing to maintaining its allure, freshness and perceived value.
What’s more, centralising the presentation and promotion of a quality of home in the hands of a single sales and marketing team aids in the creation and following of a single, coherent strategy rather than the uncontrolled scattering of images and information by large numbers of sales agencies, many of whom you as the owner will never have contact with and therefore also have no control over. The result is usually over-exposure of the property, along with frequently poor presentation that diminishes its worth.
It is therefore a commonly made mistake to think that placing your home for sale with a large number of agencies increases its chances of sale, but the relative chaos created and at times the inclusion of unprofessional parties does more harm than good.
If you list your property with a lot of companies, each will do what is necessary to catalogue it and promote/market it as part of a large collection of generic real estate on its books, whereas the commitment on your part to give exclusivity to one professional agency is rewarded with a far more dedicated approach driven by your own account manager. The latter will draw upon his or her experience to offer a qualified valuation, create a dedicated sales and marketing strategy (traditional and digital), and allocate a budget that covers quality photography, video production, marketing material, online promotion and live events such as open houses.
The standard of such efforts also lifts the standing and appeal of the home being promoted, as does having a single (accurate) sales price and property specs circulating rather than confusingly diverse ones. In working with a broad network of clients, investors, press and other agencies, the handpicked property company will offer the advantages of a large reach along with the benefits of a bespoke, personal service and accountability.
To ensure the optimal result when selling your Marbella home, choose an agency which suits your needs and fits the profile of your property, as well as having a reputation for know-how, integrity and results. Speak to Marbella Hills Homes and discover what we can do for you, and just how much more effective a mandate of exclusivity can be in the successful sale of your Costa del Sol property.