Many realtors would prefer to just list properties exclusively. Typically and exclusive agency agreement is perfectly acceptable. However, there are a few times where a co-agency agreement is beneficial. Living in Colorado there are many opportunities to co-list. Lets say I have an acquaintance who lives in Denver area but has a winter home in the Mountains. I used to try and market the property exclusively and the truth is it takes me longer to sell the property than if I co-listed the property with an agent in the immediate area of the property. Once I learned to split the commissions, split the cost of marketing and the ability to advertise in Mountain areas and Denver Metro area, we typically get more activity, list time is reduced and we generally get a higher price on the property.
Another situation that my be beneficial is with Land listings in our rural area's. Joining forces with an expert Realtor in the immediate area is incredibly resourceful. They tend to know the land better, water resources, utilities to the land. They can also readily show the property whenever someone would like to preview the land and I do not have to schedule a later date, coordinate schedule's, etc. Reality is, when clients want to see the Land, they would like to see it now.
Commercial Real Estate- pairing up with a commercial realtor just expands our marketing base. Advertising together on Metro List and Commercial Real Estate websites will only increase opportunity.
Not only does co-listing help with expediting the sell of a property and for a higher price- by working with another agent you can work on additional deals together. By sending them business, in return they will reciprocate and send me business in return.
In Summary- do not be afraid to co-list properties with others- it can be very beneficial for everyone involved.
Carl Ballard has resided in the Denver Metro area for over 30 years. His family has worked in the Denver Metro real estate market for over 25 years. Carl has vast knowledge and familiarity with the re....
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