exclusive right to sell listing

exclusive right to sell listing

A relationship with a seller of real estate in which a broker has the exclusive right to list and to sell the property,so that even if the owner sells to his or her child,with no involvement whatsoever from the broker,the broker is still entitled to a commission.This is done to avoid disputes over who procured a particular buyer.Sellers who wish to exclude certain persons from the effect of the agreement should describe them, such as “except for the following named potential buyers …”or “except for sales to family members related in the third degree… .“ Contrast with exclusive agency listing.

References in periodicals archive ?
In the 1970's most brokerage firms had become members of local multiple listing services and the use of exclusive right to sell listings became commonplace.