Exclusive Right to Sell Listing
An exclusive right-to-sell listing generally provides for the listing broker’s compensation when the property sells during the listing term, whoever procures the buyer.
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Exam Tip
An owner-procured sale during the term ordinarily earns the agreed compensation under an exclusive right-to-sell listing, subject to the contract.
How compensation is earned
The listing agreement sets the compensation and conditions for earning it. A sale during the term can trigger compensation even if the seller or another broker produces the buyer. A named-buyer exception or other negotiated term can change the result.
A protection clause may apply after expiration if a covered buyer purchases within the specified period and the broker meets any notice requirements. The contract and local law govern the listing’s expiration, compensation and marketing permissions. Exclusive agency differs because it reserves the owner's independent-sale exception.
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Exclusive Agency Listing
An exclusive agency listing appoints one listing broker while reserving the seller’s right to find a buyer independently without owing that broker a commission.
Open Listing
An open listing lets a seller authorize one or more brokers on a nonexclusive basis. Compensation generally goes to the broker who procures a buyer under the listing terms.
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