Exclusive Agency Listing
An exclusive agency listing is a listing agreement where one broker has the exclusive right to market the property, but the seller retains the right to sell the property themselves without owing a commission.
Exam Tip
Exclusive agency = one agent, but seller can sell themselves commission-free. Less common than exclusive right to sell because agents prefer guaranteed commission.
What is an Exclusive Agency Listing?
An exclusive agency listing grants one broker the exclusive right to represent the seller and market the property. However, the seller reserves the right to find their own buyer without paying the broker's commission.
Key Features
| Feature | Description |
|---|---|
| Exclusive Agent | Only one broker can market the property |
| Seller's Right | Owner can sell themselves commission-free |
| Commission | Paid only if broker finds the buyer |
| Duration | Set period agreed upon in contract |
Comparison of Listing Types
| Listing Type | Who Can Sell | Commission Due |
|---|---|---|
| Open Listing | Any agent or owner | Only to selling agent |
| Exclusive Agency | One agent or owner | Agent only if agent sells |
| Exclusive Right to Sell | One agent or owner | Agent regardless of who sells |
When Used
| Situation | Reason |
|---|---|
| FSBO with backup | Seller trying to sell themselves but wants agent marketing |
| Experienced seller | Seller has own buyer network |
| Negotiation leverage | Seller wants agent motivated to sell first |
Pros and Cons
| Pros | Cons |
|---|---|
| Seller flexibility to sell themselves | Less agent motivation |
| Still gets MLS exposure | Agent may invest less in marketing |
| Lower risk for seller | Potential disputes over buyer source |
Commission Scenarios
| Scenario | Commission Owed |
|---|---|
| Broker finds buyer | Full commission to broker |
| Seller finds buyer independently | No commission owed |
| Cooperating broker finds buyer | Commission split per agreement |
Exam Alert
Exclusive agency = one broker BUT seller can sell themselves without commission. This is different from exclusive right to sell where the agent earns commission regardless of who finds the buyer. Know the difference between all three listing types!
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Related Terms
Exclusive Right to Sell Listing
Real EstateAn exclusive right to sell listing is a listing agreement where one broker has the exclusive right to sell the property and earns the commission regardless of who finds the buyer, including the seller.
Open Listing
Real EstateAn open listing is a non-exclusive listing agreement where the property owner can hire multiple brokers simultaneously, with only the broker who procures the buyer earning a commission.