What is the defining characteristic of an exclusive right-to-sell listing agreement?
Correct Answer
B) The broker is entitled to a commission regardless of who procures the buyer, including the seller
The defining characteristic of an exclusive right-to-sell listing is that the listing broker is entitled to a commission if the property sells during the listing period, regardless of who procures the buyer — including if the seller finds the buyer themselves. This makes it the most protective listing type for the broker and the most commonly used listing agreement in Arkansas.
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Related Topics & Key Terms
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The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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