This is when the property is placed in the hands of one agent for an agreed period of time.
The agent is committed to actively market the property with the knowledge that they will be suitably rewarded once a sale takes place.
Generally people select Exclusive Agency when they consider they are not in a hurry to sell and will wait until the right buyer comes along willing to pay the price they want. There are, however, some drawbacks in using this method of sale, these being:
Placing a price on your property guarantees that the amount set will be the maximum price you will be likely to achieve. People often offer less, but rarely more! As a result of the unlimited time frame, there is little urgency placed upon potential purchasers to buy your property.