exclusive listing

Definition

A contract giving one real estate agent the sole right to sell a property for a specified period, even if the owner finds a buyer independently. It's monogamy for real estate, and the agent gets paid regardless of who does the actual work.

Example Usage

She signed an exclusive listing agreement for 90 days, meaning even if her brother bought the house, her agent would still earn the commission.

Origin

Real estate agency law terminology from early 20th century professionalization of the industry

Fun Fact

There are two types: 'exclusive right to sell' where the agent always gets paid, and 'exclusive agency' where the owner can sell directly without paying commission.

Source: Real estate licensing and agency law standards

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irem

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highest and best

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