Question

The type of listing that assures a broker of compensation for procuring a customer, regardless of the procuring party, is an:________
a. exclusive right to sell agreement
b. exclusive agency agreement
c. open listing
d. net listing

Answer 1

Answer:

exclusive right to sell agreement

Explanation:

Exclusive right to sell listing agreement is a contractual agreement under which the listing broker acts as the agent and has the sole right to procure the sale. The seller acknowledges to pay a commission to the broker whether or not the property is sold through seller’s efforts or anyone else during the agreement’s time frame. Throughout this period the seller cannot list the property with any other agent and should pay the commission to agent even if the seller finds a buyer unless an exception is mentioned in the contract. It therefore gives the broker exclusive right to gain a commission by bringing a purchaser, either through another brokerage or by himself.