Definition: An exclusive agency listing is similiar to an open listing except the major difference is the broker will represent the owner. The owner still reserves the right to sell the property herself and not pay a commission. The broker is free to cooperate with another brokerage, meaning the second brokerage could bring an able buyer whose offer the owner accepts. Typically, the broker is paid a listing commission that is shared with the selling broker, so the owner pays both fees.
Common Misspellings: Inclusive Agency
Examples:
The owner gave Smith Brokerage an exclusive agency agreement. Since Smith found the buyer, Smith earned both ends of the commission and acted as a dual agent.
