Should you have one or multiple agents? Should you sign an exclusive agency agreement or should you opt for a conjunction agreement with multiple agents?
There is only one answer to this question. You should always engage agents on exclusive agency agreement, the reason being that your exclusive agent will work wholeheartedly towards achieving your goals.
What happens with multiple agents?
If you engage multiple agents in a conjunction agreement, your sale will only be a race to the finish line. That is, a race to beat the other agent without the result in mind. This does not make for a genuine and authentic approach to realising your goals, and the risk is that a focus on commission will be at the forefront of the agent’s mind.
Or, the opposite effect is that it discourages agents. If they have a series of listings and buyers looking at properties, why are they going to refer them onto a conjunction rather than a property they have an exclusive selling right over?
Don’t get caught in the crossfire between too many sellers! Tread carefully!
Most owners think that it can be worthwhile having several professionals competing in the sale. We can understand why it makes sense on paper. But in reality, this is not always the solution.
In some cases having multiple representatives is normal in real estate, but often on larger projects or in commercial real estate transactions. Here more contacts or inquiry volumes might demand this. But for the sale of a single home or small collection of properties, choose the agent who best suits your campaign.
Good luck making the right choice!