Exclusive-agency listing
National Real Estate Exam glossary · Agency
Definition
A listing under which one broker is the sole agent, but the owner reserves the right to sell the property personally without owing a commission. The broker earns a fee only if the broker or another agent produces the buyer.
Exclusive-agency listing in plain English
Picture hiring one real-estate agent to sell your house, but keeping a side deal for yourself: if YOU personally find the buyer, you pay the agent nothing. That's an exclusive-agency listing. The agent is the only professional allowed to market and sell it, so they earn their commission if they (or any other agent they cooperate with) brings the buyer — but if the owner sells it to a friend at a barbecue with no agent involved, no commission is owed. Because the owner can basically compete with their own agent, agents like this arrangement less.
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