Last week, I was on the hunt for a condo in Covington Creek for a client. Unfortunately, the few options available didn’t quite meet their needs. So, I took a proactive approach and reached out directly to a few owners in desirable locations within the community. One of them agreed to meet, and after a discussion, they decided to list their condo with me as an “office exclusive.” Here’s what that means:
What is an Office Exclusive Listing?
Commitment: The sellers are committed to working exclusively with me, and I’m equally committed to selling their home within a specified timeframe or to a specific buyer.
Contract Details: They sign a standard listing contract, but it’s accompanied by an Office Exclusive addendum.
Exclusive Access: Only agents within my firm can show the home initially. It won’t be available to outside agents until it’s listed online for the broader market.
Private Marketing: The property cannot be advertised to the general public. It’s only marketed to select clients that Kate Leach and I personally know.
How the Process Unfolded:
I showed the property to a buyer who had to sign a Buyer’s Exclusive Broker contract—a new rule effective July 1, 2024, in our local MLS, and nationally by August 17, 2024. After one counteroffer, the sellers accepted the buyer’s offer today, August 13th. The sale is now pending and set to close in two weeks
Key Takeaways:
For Buyers:
If you or someone you know is looking for a home, you might be missing out on “invisible inventory” if you don’t reach out to me. I currently have three amazing properties listed off the market for reasons ranging from “moving to a senior community” to “waiting until their son leaves for college.” These properties will be available to the broader market in September, but you can get first dibs by letting me know what you’re looking for. I’ll add your criteria to my list and reach out as soon as I find a match. Plus, I love digging to find the perfect home for my clients!
For Sellers:
If you’re thinking about selling but aren’t quite ready to list on the open market, let’s talk. Over the past 14 years, I’ve built a strong sales track record, and I might be able to sell your property off-market before it hits the broader market. This approach could help you avoid the rush of showings and the revolving door of potential buyers. Even if we don’t sell off-market, these early showings allow you to test your price and gather feedback—without the days-on-market ticking away.
