Property Resource
The nature of the agreement between the seller and the listing agent (e.g., Exclusive Agency, Open Listing).6/17/2021| Standard Value | Definition | Usage |
|---|---|---|
| Exclusive Agency | A contract giving one brokerage firm, for a specified time, the right to sell/lease the property and also allowing the owner, acting alone, to... | 39% |
| Exclusive Right To Lease | A contract giving the broker the right to collect commission if the property is leased by anyone, including the owner, during the term of the... | 13% |
| Exclusive Right To Sell | A contract giving the broker the right to collect commission if the property is sold by anyone, including the owner, during the term of the agreement. | 33% |
| Exclusive Right With Exception | A contract giving the broker the right to collect commission if the property is sold by anyone, including the owner, during the term of the agreement... | 7% |
| Net | A listing in which the broker's commission is the excess of the sale price over an agreed-upon (net) price to the seller; illegal in some states... | 2% |
| Open | Often used for commercial property, a listing given to any number of brokers without liability to compensate any except the one who first secures a... | 8% |
| Probate | An Exclusive Right To Sell listing agreement that also resides under authority of the local probate code. | 3% |