In general, an exotic weapon gets better damage, better threat range, double-weapon-ness, or some nifty special ability compared to a martial weapon. The jovar could be considered either a greatsword with increased threat range or a falchion with increased damage.Taneel BrightBlade said:lots of people pointed out that it has better critical range, true, but is that worth a the exotic weapon proficiency feat?
So it's clearly a superior weapon to martial weapons, which makes it Exotic. Whether it's worth it, well, that's between you and your PC.