Page 266 - Trump University Commercial Real Estate 101

TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101

Types of Listings

Just as there are different types of agency, there are three different
types of listings you can sign with your brokerage company.

1. Open listing. This agreement allows the broker and anybody
else to sell the property and get a commission. Avoid this listing.
It sounds good to have everybody working for you, but in real-
ity you ’ ll have nobody working for you. People will not spend
money advertising your property or putting together a decent
marketing campaign. After all, their work could easily be wasted
if someone else comes out of nowhere and brings a qualifi ed
buyer to you.
The reality of doing an open listing is that the only person
working hard on the marketing will be you. If you feel you have
the ability to market that property yourself, have at it. Remember
my advice, though, about how saving a few bucks on commissions
will cost you far more in missed relationship opportunities.

2. Exclusive agency listing. This agreement states that the only
entity that can sell the property is the brokerage company and it
does not have to pay a commission to any cobrokers. Do not
sign this one, either, even though brokers will try to get you to
agree to it. If you do, you will have just eliminated a very large
pool of buyers.
No other broker or brokerage company other than the
company you signed the agreement with will bring you a buyer

for your property. Let me be more specific: Others can bring
you a buyer, but they won ’ t get paid for it; same difference.

3. Exclusive listing. This is the type of agreement that you should
sign. It states that the brokerage company has the sole right to
market and sell the property and will be compensated when a
sale is consummated. If there are any cobroker opportunities,
those agents also will be compensated. This allows your prop-
erty to be marketed effectively. It will be seen by the greatest

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