What is the difference between Exclusive Agency and Exclusive Right to Sell Listing Agreement?
Exclusive agency — A written listing agreement giving a sole agent as the exclusive representative to market the property for a specified period. Under this agreement, the listing agent earns a commission for their services if the property sells during the contract term.
Exclusive right to sell — A written listing agreement appointing a broker the exclusive agent for the sale of property for a specified period of time. The listing broker is entitled to a commission if the property is sold by the owner, by the broker or by anyone else. The phrase “right to sell” really means the right to find a buyer; it does not mean that the agent has a power of attorney from the owner to sell the property. Unless the contract clearly states it is an exclusive right or authorization to sell, most courts will treat it as being a mere exclusive-agency listing