Can I Use Two Realtors to List the Same Property?
If you were building a home, you might think hiring two general contractors would speed up the process or provide more options. However, multiple competing contractors can create a long list of challenges — everything from scheduling nightmares to miscommunications and added liabilities. The same holds true if you’re pondering the question: Can two Realtors list the same property?
In most cases, to achieve the best results when selling a home, you want to find a top-rated listing agent with a proven track record of attracting the best offers (high list-to-sale ratio) and a favorable selling timeline (low days on market).
This post will guide you through the feasibility and considerations of using two Realtors to sell your home, helping you make an informed choice about this uncommon and unpopular strategy.
Can I use two Realtors to sell my house?
“Legally, it is possible for sellers to engage multiple Realtors simultaneously, but there are obviously things to consider,” says Scott Boeser, a top real estate agent with the Manavi Boeser team in Virginia. “It is allowed, however, it might not be the best for a seller to do.”
Yes, technically, you can use two Realtors to sell your house, but it involves specific types of listing agreements and isn’t widely practiced due to potential complications, costs, and legal potholes. Here are the three main types of listing agreements that determine how Realtors can be involved in selling your property:
Exclusive right to sell agreement
This is the most common type of listing agreement. Under this contract, one real estate agent has the exclusive right to earn the commission by representing the seller and bringing in a buyer. If the property is sold while the agreement is active, the agent earns the commission, regardless of who actually finds the buyer.
“The exclusive right to sell agreement is the standard agreement that most brokerages use when entering into an agreement with the selling party,” Boeser says. It grants one brokerage and the agent who is a part of that brokerage the exclusive right to represent and sell a property.”
This arrangement makes it difficult to legally involve a second Realtor without breaching contract terms.
Exclusive agency listing agreement
An exclusive agency listing agreement allows you to list your property with one agency while retaining the right to sell the property yourself. In this scenario, if you find a buyer independently, you don’t have to pay a commission to the agent. This type of agreement provides more flexibility compared to an exclusive right to sell but still typically involves only one agency.
Non-exclusive right to sell (open listing)
Under an open listing, multiple Realtors can be enlisted to sell the property, but only the one who brings an accepted offer to the seller gets the commission. This non-exclusive arrangement is the most likely scenario where more than one Realtor could actively market your property. However, this type of listing is less appealing to agents as their chance of earning a commission is not guaranteed, making them less likely to invest significant effort compared to exclusive agreements.
What is co-listing in real estate?
Co-listing is when two (normally competing) real estate agents agree to work together to list and sell a home. The two agents will draw up a contract agreeing to share responsibility for marketing and showing the property, and ultimately closing the deal for the seller. The agreement will also spell out how the agents will split the commission. This might involve a 50-50 split, or one agent may agree to a lesser amount for a lighter workload.
If you’re considering having two agents list the same property, you’ll discover that most Realtors prefer not to enter co-listing agreements.
