Exclusive Agency Listing

A listingAn agreement of which a property is marketed through a service or association composed of several agents with fees and a commission from the sale of a property shared between the selling broker and the listing broker.... agreement under which a real estate brokerA person or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker. See also “Mortgage Broker.”... (known as the listing broker) acts as an exclusive agent to sell the property for the property owner, but may be paid a reduced or no commissionThe fee charged for services performed, usually based on a percentage of the price of the items sold (such as the fee a real estate agent earns on the sale of a house). ... when the property is sold if, for example, the property owner rather than the listing broker finds the buyer. This kind of listing agreement can be used to provide the owner a limited range of real estate brokerageA person or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker. See also “Mortgage Broker.”... services rather than the traditional full range. As with other kinds of listing agreements, if a second real estate broker (known as a selling broker) finds the buyer for the property, then some commission will be paid to the selling broker.