There are two listing categories for a Vendor to consider: a Sole listing or an Open listing.
Sole Listings:
There are clear benefits should you choose to work with an Agent on a Sole listing basis.-
A Sole listing dictates that the property will be listed with one Agent only.
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All other Agencies will be invited to work with the Sole agent on a co-brokerage basis. Should a sale result, the commission is shared between the two Agencies in accordance with the guidelines established by the Real Estate Division of the Bermuda Chamber of Commerce.
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The Vendor is relieved from having to coordinate and keep track of showings with numerous Agencies and having to give out multiple keys.
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The Sole Agent will:
- Market the property for sale
- Conduct all showings whether directly or through a co-broking Agent
- Handle all negotiations
- Draft the sale and purchase agreements
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All appointments are booked through and monitored by the Sole Agent who will be on site for every showing to ensure your property is accurately and professionally represented.
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Under a Sole listing the Vendor agrees not to participate in the sales process and any private enquiries are directed to the Sole Agent; the Vendor will pay a commission on the sale even if they introduce the Purchaser.
Open Listings:
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An Open Listing enables a Vendor to list on a direct basis with multiple Agents.
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No commission is payable if the Vendor sells the property privately.
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Whichever Agent is successful in securing a Purchaser is entitled to the full commission.
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All of the other services listed above are provided by our Agency under an Open Listing agreement.