What is an "exclusive right to sell" listing?

An "exclusive right to sell" listing is a specific type of agreement between a property owner and a real estate broker that gives the broker the exclusive right to market and sell the property. The key aspect of this type of listing is that it guarantees the broker a commission upon the sale of the property, regardless of who ends up making the sale—whether it's the broker themselves or another party. This solidifies the broker's position as the primary representative for the seller during the selling process, ensuring that they receive compensation for their efforts even if another broker or the seller finds a buyer independently.

The exclusivity granted by this listing arrangement serves to motivate the broker to invest resources and time into marketing the property, knowing that their commission is assured once the property is sold. This contrasts with other kinds of listings, such as open listings, where multiple brokers can be involved and only the broker who brings in a buyer receives the commission.

The other options do not accurately describe the characteristics or implications of an "exclusive right to sell" listing; instead, they pertain to different types of arrangements in real estate practices.