An exclusive agency instruction is the most common type of agency agreement in Nigeria. It is a situation birthed from the willingness of agents to act independently to achieve a 'SELL objective'. Owners take advantage of this and give an open instruction to more than one real estate broker and pay only the broker who brings an able buyer whose offer the owner accepts.

Over the years, the agency representation has evolved and more legal techniques have been employed to fortify the existing agency relationships. Nevertheless, real estate agents have been found wanting in the act of marketing properties they have no instructions nor interest whatsoever- a singular act that has gained the agency profession a stain and why many professions label most real estate agents as 'Quacks'.

Even if the capacity to obtain an 'exclusive-right-to sell' remains challenging in the presently complex commercial arena, wielding an exclusive agency instruction has been found to have helped many real estate agency businesses flourish. Real estate agents with exclusive agency instructions are more confident, committed and encouraged to satisfy their clients.

Agents with an exclusive agency instruction act with integrity, competence, diligence, respect and in an ethical manner with their clients. Only agents without an instruction make a 'foul' of the profession as such where 'quacks' bask. Their operation is unscrupulous and lacks professionalism and integrity.

From a minimalistic view, I have noted five (5) economic costs an exclusive agency instruction might help the agency business reduce if not completely eliminate. These costs include:

1. Inspecting unfavorable property leads i.e. Time and energy wasted by your clients to inspect properties that do not match their taste and preferences because of the information you received from a 'Quack'.
2. The risk of agency misconducts, misrepresentation and fraud: 99% of the time, agents that are only concerned with their commission which often distorts your referrals network. This is not good for your business.
3. Poor buyer/seller customer service: This is the outcome of (2) above.
4. Multiple advertisements for the same property
5. Complex and unfavorable commission formulas

Note: Obtaining an exclusive agency instruction can also extend to cover such instances where the knowledge and contact information of such parties with the exclusive agency instruction is known and available for momentous follow-up.

So why won't you give up 'Quackery' folks!!!
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