In an exclusive listing agreement, what obligation does the seller have if they find a buyer themselves during the listing period?
Correct Answer
A) Full commission is owed to the listing agent
In an exclusive listing agreement, the agent has the exclusive right to sell the property during the listing period, regardless of who actually finds the buyer. This means the seller owes the full agreed-upon commission even if they find the buyer themselves, as this is the fundamental nature of an exclusive listing arrangement.
Why This Is the Correct Answer
Option A is correct because an exclusive listing agreement grants the agent exclusive rights to sell the property during the listing period. This means regardless of who finds the buyer - whether the agent, seller, or any third party - the listing agent is entitled to the full agreed-upon commission. This is the fundamental characteristic that distinguishes exclusive listings from other types of listing agreements and is supported by standard real estate legislation across Canadian provinces.
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In an exclusive listing agreement, what distinguishes it from an open listing arrangement?
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