Why is a sole representation contract important, for the agency and for the owner? A sole representation (exclusive) sales contract is highly requested by agencies, but often rejected and misunderstood by owners. We explain why this approach is crucial for a successful sales process and what benefits it holds for the owners.
At MySpot Barcelona we value exclusive representation as it allows us to focus our expertise and resources on a limited number of clients. We can thus provide personalized and commercial attention for properties effectively and in optimal timeframes. Being able to treat your property as if it were our own provides the best results. It is essential to understand how agencies work and the amount of work that goes into selling your property in order to understand the importance of exclusivity contracts. Your home should not only be beautifully presented, but also carefully and personally managed to achieve satisfactory results.
Effective and targeted exposure
One of the most common mistakes in property sales is overexposure, which can devalue a property. Listing through multiple agencies does not increase the chances of sale, but rather decreases them. Luxury is defined by its rarity and what is widely available loses its appeal. Miscellaneous information, low-quality material or changing sales representatives are just some of the common problems when the property is overexposed.
We focus on quality, not quantity, and maintain the highest standards of presentation: professional photography, videos, virtual tours, floor plans and marketing both offline and online. We make sure that the presentation enhances the value of the property. In addition, we take care of essential documentation, such as energy and occupancy certificates, ensuring a smooth and seamless sales process.
Maximising exposure through professional networks
As a boutique agency, MySpot Barcelona collaborates with an extensive and closed network of more than 400 agencies and agents in Barcelona and Catalonia. Members have to go through a rigorous selection process to become part of said Multiple Listing Services (MLS) and associations and work under a strict code of ethics. Only exclusive properties are allowed to be shared within these networks, ensuring immediate access to a wide range of active buyers.
In contrast, when multiple agencies are hired to sell the property, those networks are not accessible. Partners avoid promoting it to their clients. The reasons are simple: too many agencies dilute the sales process, the investment of time and resources may not be rewarded, the information published may vary, and control of the sales process is lost. While an exclusive sales process typically lasts around 4 months (if the property is on-market-price), a non-exclusive property might face longer lead times and less effective exposure because the agency relies solely on its own network of clients.
Clarity and control: communication and viewings
A sales process can be stressful, especially when dealing with multiple agencies, opinions, targets, and changing sales agents. Property owners need a clear strategy, transparency, direct communication, and peace of mind. This includes pre-qualified and vetted visitors. At MySpot Barcelona we personally screen each potential buyer to ensure that only serious, pre-approved clients view your property. We provide you with immediate feedback after each viewing and a detailed written activity report on the sales process. We ensure that owner and client data is secure, managed with discretion and utmost privacy.
The Importance of “Off-Market” Sales
One way to "sell" a property is to list it on many platforms and wait for an interested person to click on the ad. This is an indirect and passive method. Exclusive properties benefit most from an direct and “off-market” approach. Many high-profile clients prefer discretion and privacy, and seek exclusive and confidential transactions without online exposure (“off-market”).
At MySpot, we market your property through trusted off-market channels, including lawyers, developers, private and corporate investors, mediators and high-net-worth individuals looking for exclusive properties and investment opportunities.
Key Benefits for Owners in an Exclusive Agency Agreement
Preserving Value and Exclusivity: An exclusive agency increases the value of your property. With too many agencies involved, a property can appear overexposed or desperate to sell, reducing its appeal and value.
Higher Offers: Exclusive representation allows us to work closely with potential buyers, negotiating for the best offer BEFORE we present it. Without the pressure of competing with other agencies (first come, first served; bidding wars), we can take the time necessary to secure the most favorable deal. From a buyer's perspective, seeing the property offered by multiple agencies could give the impression of urgency to sell or problems with the property, which could lead to lower offers.
Higher Sales Prices: Multiple agencies often pressure homeowners to lower prices. In contrast, exclusive representation allows us to explore all options BEFORE making pricing decisions, ensuring no opportunities are missed.
Clear Communication and Transparency: Dealing with multiple agencies or changing agents can be frustrating. MySpot is committed to offering personalised attention, a high level of complicity, and peace of mind. A single point of contact ensures clear, consistent, and 100% transparent communication throughout the entire sales process.
Collaboration: Having an exclusive agency doesn't mean limiting sales opportunities or tying yourself to a single agency. On the contrary: Giving exclusivity gives you access to a much wider network of collaborators and a more personalised effort from multiple agencies without having to deal with different parties or variable costs. Asking an agency about their collaboration network can be a true indicator of their sales ethics and added value.
Contact us at MySpot Barcelona for more explanations on our collaborative approach to sales according to our motto: "Teamwork makes the dreams work."
Why is a sole representation contract important, for the agency and for the owner? A sole representation (exclusive) sales contract is highly requested by agencies, but often rejected and misunderstood by owners. We explain why this approach is crucial for a successful sales process and what benefits it holds for the owners.
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