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When it comes time to sell a property in Canada and the United States, the custom has long been to enter into an exclusive right to sell agreement with a licensed real estate broker. Your REALTOR® would in turn list your property on the local real estate board's multiple listing service, which hosts virtually every other listing in the market as well. Consumers and brokers alike know where to go to find properties for sale and the market operates relatively efficiently. Unfortunately, the real estate market in Guadalajara does not operate that way. It is not regulated and there is still no effective MLS. Open listings remain the rule rather than the exception, which perpetuates market inefficiency.

In any case, exclusive agency remains a far more desirable form of agency for all stakeholders – seller, buyer, lawyer, lender, escrow agent and broker. Greater accountability, commitment, loyalty, trust and communication are just some of the benefits. Generally, under an open listing contract in Guadalajara, the seller could not reasonably expect any of these things. One of the unintended consequences of an open listing is that no broker has the duty or obligation to promote the seller's property. The property is listed with everyone and no one at the same time. There is very little control or commitment, no quid pro quo or reciprocity for the broker's best efforts or loyalty. An analogy would be for you to have 10 lawyers represent you in a lawsuit, each working independently of the other.

Under an exclusive representation agreement with Guadalajara Sotheby's International Realty®, we are legally required to make continuous best efforts to find a buyer for your property and to gain every possible advantage for you. We are effectively engaged as your trustee, bound by the fiduciary duties of obedience, loyalty, disclosure, confidentiality, accounting and reasonable care. We take responsibility and accountability for selling your property, resulting in a cohesive and consistent marketing effort. Under an exclusive representation agreement, you can reasonably expect best execution of your real estate transaction, which is clearly not the case with an open listing.

Some of the notable differences between an open listing and exclusive representation by Guadalajara Sotheby's International Realty® ("Sotheby's") are highlighted in the table below. To contact us to find out more about exclusive seller representation, click here.

 

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