What is an "exclusive right to sell" agreement?

An "exclusive right to sell" agreement is a specific type of listing contract that grants a single real estate agent or brokerage the exclusive authority to sell a property. This means that regardless of whether the seller themselves finds a buyer, the agent is entitled to a commission if the property sells during the term of the agreement.

This arrangement provides a strong incentive for the agent to market the property effectively since they are assured of the commission if it sells, thereby increasing their commitment to promoting the listing. Moreover, having exclusivity helps streamline the sales process, as the seller works directly with one agent who manages all aspects of the sale.

The other options describe different scenarios that do not fit the definition of this type of agreement. A listing involving multiple agents would be a different agreement type, such as an open listing, where no single agent has exclusivity. A temporary arrangement for open houses would not encapsulate the broader marketing and sales strategies involved in an exclusive right to sell. Finally, while a seller maintaining the right to market the property independently refers to a different kind of listing agreement, it does not define the exclusivity that an "exclusive right to sell" agreement provides.