For how many months do you have to give a listing broker an exclusive?

should be in the contract, if not, do as you please

i think it's usually six months, but i would guess that you can negotiate

It's completely a matter of negotiation, but in the current market where it takes the average property five months to sell (and that number is probably going to lengthen) most agents are going to ask for six months.

ali r.
{downtown broker}

Thanks, Ali.

Such a period does sound like a long "lock-up" period. Do I gain anything from that? I just like the idea of maximum flexibility for "me." Ideally, if I felt my broker was doing a fine job, of course, I would just extend a shorter-term agreement if my place didn't sell.

Do you think the typical broker would balk at a three-month agreement?

Many thanks!

Well, when I first get a listing, I have to pay the photographer -- that's a few hundred. I have to pay my web designer -- that's a couple hundred. I have to go crawl around the place and make sure it looks nice, and often there's a super or handyman I have to pay to clean something or fix something.

So to start, if I haven't made a video (another $200-$500) I'm in maybe $600--$700. I'll get that back from my commission at close, IF I close.

So the rest of my commission pricing is, "what are ads going to cost me, what is the cut to my firm (which covers office rent and brand advertising) going to cost me, and what's my time worth?"

On a six-month, that's easy to price, because I'm making the assumption that I'm going to close, so it's just a calculation of how long it's going to take.

Three months, I think, is much more speculative, because I have to put in my cash above -- not to mention the effort of pricing and positioning the unit, and getting the owner on board with a marketing plan. I personally would be quite reluctant to do all that in terms of time and effort, and then get "swept aside" for some other broker.

But that's just me. Anybody else thoughts? Specifically from any other agents?

ali r.
{downtown broker}