Realty Takes asked: Would open listings work better than all exclusives in this market?

Tom D., Westhampton Beach renter: Since moving here from California earlier this year, I have been completely perplexed by the secret real estate society that operates here. I am not a realtor, just a person who will eventually buy. Your exclusive listings make it impossible to know what's available on the market without working with multiple realtors. How does that benefit me as either a buyer or seller? As a seller, my property is not fully exposed to the marketplace. With sales down, I would lose that benefit. Many realtors here say that the sellers want exclusives. I suppose if they aren't motivated to sell unless they can get top dollar that might be true. If they really want to sell, they should want maximum exposure. As a buyer I want to know about all property available in the locations I want and in the price range I desire.

Property listed with The Corcoran Group.

Rick Hoffman, Regional Senior Vice President, The Corcoran Group: Exclusives are absolutely better. In a market where there is more inventory, and hence more comparable properties available, you need a broker to aggressively market your property, co-broke to every other agency, hold broker and public open houses, and use their marketing skills, technology, internet power, contacts and the power of their co-workers to help sell the property. Brokers don't talk about open listings in their office meetings. Make certain your listing gets the exposure to the largest pool of agents with the greatest number of qualified buyers.

Lori Barbaria, Prudential Douglas Elliman, Bridgehampton: Right now it matters not whether they are anything but priced at a major advantage to sell. It has to be a great deal to sell.

Gioia diPaolo Prudential Douglas Elliman, Sag Harbor and Bridgehampton: Exclusives always work better - as long as you have someone who knows how to market, and someone who is available to promote your listing. Marketing a listing properly requires a lot of time, effort and money. With proper exclusive representation, a seller has an expert who is committed to getting the job done.

Property listed with Westhampton Beach Real Estate.

Jackie Dunphy, The Corcoran Group, East Hampton: It is never a good time for an open listing, especially not during a buyer's market. The web is driving sales now and, by listing a home with a broker, the seller can be guaranteed a strong presence. At Corcoran, we have featured "good deals," and exclusives are listed on Yahoo.com, NYTimes.com, Craigslist.com, and the International Herald Tribune's site, all at no cost to the seller. Public open houses seldom work, and advertising in the papers does not bring in the buyers like before. Pricing a home is critical now. It's important to have good market analysis, that's what brokers do. What seller wants to field all the calls, appointments, plus negotiate? Negotiating the best price for a home is best left to someone that has a seller's best interests at heart.

Michael Daly, True North Realty Associates and The Hamptons Real Estate Blog: As a recent Buyers Broker only, I believe the seller is always best off having an exclusive agent to represent them. I prefer to work with a good Listing Agent on a transaction who knows the property, can answer questions and can work hand in hand with me through to the closing. I recently had a transaction with Peter McCracken at Corcoran and he was flawless. We probably couldn't have gotten the deal done without him. We have another deal in the works with Lynn November at Prudential and she has been terrific - professional, cooperative and committed to her client. A good listing agent is a great asset to the property owner.

Jude Lyons, Westhampton Beach Real Estate: In this market, patience is required and what a buying opportunity!

East End real estate is a very strange business indeed.