Exclusive Agency Listing
A listing agreement where the seller grants one real estate agent the exclusive right to market their property, but retains the right to sell the property themselves without paying a commission. If the agent or any other agent brings a buyer, the listing agent earns the full commission.
Example
“Under the exclusive agency listing, the homeowner could still sell the property themselves without paying commission, but only one real estate agent had the right to market it.”
Memory Tip
Think 'exclusive agency BUT owner okay' - only one agent, but owner can still sell directly.
Why It Matters
This arrangement can save sellers money if they find their own buyer, while still providing professional marketing services and MLS exposure through their agent. Sellers maintain more control over the sale process while benefiting from agent expertise and resources.
Common Misconception
Many sellers think they can avoid paying any commission with this arrangement, but they still owe the full commission if any real estate agent brings the buyer.
In Practice
A homeowner signs an exclusive agency listing with an agent who markets the property and hosts open houses. When the seller's coworker expresses interest and purchases directly from the seller, no commission is owed to the listing agent.
Etymology
From Latin 'excludere' meaning 'to shut out,' combined with 'agency' from Latin 'agere' meaning 'to act,' creating a contract that shuts out other agents while allowing owner sales.
Common Misspellings
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