Similar to an Exclusive Listing, except that two agencies share the sole right to lease or sell the property for a specified period of time. In many markets the Co-Exclusive Listing is closely coordinated between the two agents: an initial target list of companies may be agreed with the owner and assigned to the agencies, where the agencies are assigned companies based upon existing relationships, potential conflicts of interest and other factors. Remaining target companies are often then chosen in a ‘draft’ process with each agency taking turns choosing companies. Coordinated Co-Exclusive Listings include joint-marketing meetings where potential tenants are discussed and both agencies work to capture all prospects. In such cases there are confidentiality and Non Circumvention obligations for the agencies.
In some cases, and often in Moscow, the agencies are not working together as described above and information is kept separately by the owner.
A Co-Exclusive Listing involves Fee Splits between the agencies. Usually the agency that is awarded Registration of a potential tenant by the owner will receive a majority of the leasing fee (60 – 80)% and the other agency will receive the remainder (20 – 40%). In some cases there is no split and the agency with the Registration receives 100% of the fee for that tenant.