When an exclusive listing agreement expires, what is the owner’s primary option?

When an exclusive listing agreement expires, the owner’s primary option is to choose new representation and negotiable terms. This means that the property owner now has the freedom to select a different real estate agent or broker who may better meet their needs or expectations. The expiration of the exclusive agreement signifies that the previous legal commitment has ended, allowing the owner to explore new possibilities.

Additionally, the owner can negotiate new terms and conditions with a different agent, including listing price, commission rates, and marketing strategies. This flexibility is crucial as it empowers the owner to make informed decisions based on their current circumstances and the market conditions.

In contrast, the other options do not provide the owner with the necessary agency and choice that comes with the expiration of the listing agreement. Choosing only to work with the previous agent limits their opportunities for better representation. Waiting for a new agent to approach them does not actively engage them in the market, potentially causing delays in selling their property. Immediately elevating the listing price without a proper assessment may lead to mispricing in the market, which could hinder their selling process. Thus, the most beneficial and strategic option for the owner after the expiration is to explore new representation and negotiable terms.