No, an exclusive apartment is not one that will shun you for not wearing pink on Wednesday.
When you see the term ~exclusive~ on a listing, it means there is a broker who has the exclusive rights to sell or rent that property.
How does that affect you?
In an exclusive listing situation, both your broker and the broker who is in charge of renting the unit require compensation. Your broker fee will likely be 15% (7.5% to each broker). Although exclusive apartments require a larger up-front fee, they should not necessarily be avoided because they are typically great apartments. A common reason why a building owner would give the exclusive rights to a broker for his/her rental unit is because it is such a great apartment that they need help managing the traffic that comes to it or because they want to avoid the overhead cost of having an in-house leasing agent.
So, an exclusive listing may cost more money upfront, but you could just be landing yourself a nice place to live at a much more reasonable monthly rate!
