In today’s competitive real estate market, “office exclusive” listings have become a notable, and at times, rather heated, topic of discussion among agents. Recently, we took a closer look at the prevalence of these listings in St Charles County and St Louis County, Missouri. Our findings, illustrated in the chart below, reveal that 22.6% of listings in St Charles County and 28.8% in St Louis County are “office exclusive” listings.
Understanding Office Exclusive Listings
According to MLS rules, office exclusive listings cannot be advertised or listed on the MLS. This means they are not visible on the thousands of real estate websites that typically display MLS listings. Additionally, these properties cannot be shown to prospective buyers by any agents outside of the listing agent’s firm. The only agents who can show these properties are those within the same firm who have clients interested in these listings.
Who Really Benefits?
The only sellers who truly benefit from office exclusive listings are those who do not want the general public to know their home is for sale. These sellers might not want their property to be advertised or promoted publicly at all—no signs, websites, social media, etc. They also do not want open houses, or for all agents and buyers to know about the property. Typically, these sellers have specific reasons, such as being high-profile celebrities or figures whose privacy is worth more than achieving a higher sale price.
For most other sellers, this approach severely limits the exposure of their property. In contrast, a normal MLS listing is accessible to over 16,000 agents who are members of MARIS, our regional MLS. Furthermore, these listings reach hundreds or thousands of prospective buyers who have set up searches on real estate websites to find properties that meet their criteria. Additionally, these listings are distributed to thousands of real estate search websites, significantly broadening their reach.
The Agent’s Perspective
Listing agents might prefer office exclusive listings because it allows them to control the sale entirely within their firm, potentially increasing their commission if they have the opportunity to work directly with the buyer instead of paying a buyer’s agent a commission. This scenario can be quite lucrative for agents but often comes at the expense of the seller’s best interest. The reduced exposure can lead to fewer offers and potentially a lower sale price, which is contrary to what most sellers are looking to achieve.
The Importance of Choosing a Professional Agent
State license law mandates that agents have a fiduciary obligation to their clients, which means putting the client’s interests above all others, including their own. Selecting a professional agent who understands and practices this fiduciary duty is crucial. This commitment ensures that the agent works diligently to secure the best possible outcome for the seller, leveraging their expertise and the full spectrum of marketing tools available.
At MORE, REALTORS® our agents prioritize their clients’ needs and adhere strictly to these fiduciary principles. We focus not only on maximizing exposure through traditional MLS listings but also on providing comprehensive representation that covers all aspects of the selling process. Our dedication to professional ethics and our extensive knowledge of the market help us deliver exceptional results for our clients.
The Bottom Line
In summary, while office exclusive listings have their niche, the vast majority of sellers are better served by the expansive exposure that comes with a traditional MLS listing. It’s crucial for sellers to understand who truly benefits from office exclusive listings – and it’s often not them. Choosing an agent from MORE, REALTORS® means selecting a professional committed to your best interests, ensuring your property receives the attention and exposure it deserves.
Total Active Listings vs “Office Exclusive” Listings
St Charles County and St Louis County
