What is an “exclusive agency” listing?
An Exclusive Agency Listing is an agreement between an owner and a broker establishing the right to be the only broker to market a property, with the exception of a non-represented buyer or resident. The owner retains the right to sell or lease the home to a buyer without paying a buyer agent commission. A non-represented buyer is a buyer that does not have an agent participating in the transaction for the purpose of earning the buyer agent commission.
This is different from an “exclusive right of sale” listing, in which the broker receives a commission from the owner regardless of who brings the buyer into the purchase.
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