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What does exclusive listing mean?.
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What does it mean when a realtor says it is an exclusive listing? I thought it meant the house is exclusive and sold only through that agency? But I looked around and see the same house in several agencies' 'exclusive listing' list? Does exclusive listing mean it is a listing exclusive to several agencies? I am totally confused.?

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It is supposed to mean only that agency can sell that property but a lot of brokers seem to ignore that and list anything as Exclusive.

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An exclusive listing is a listing promoted by a single broker for which he/she has been hired by an owner to market his/her property.

There are two types of exclusive listings:

In an exclusive right-to-sell arrangement, the individual broker has the right to earn a commission in the event that the property sells during the term of the exclusive. This type of arrangement precludes the owner of the apartment from selling the property on his/her own. Under the terms of an exclusive, the broker has the fiduciary responsibility to market the property to other brokers. The exclusive broker is accountable to the owner of the property and is responsible for seeing the transaction through its conclusion. Basically the realtor gets paid a commission whether he/she or the seller sells the property on their own. So if you sell to a buyer that you brought in (word of mouth etc.) during that listing period then they are entitled to a commission.

The other type of exclusive is an exclusive agency. The only difference between an exclusive right-to-sell and an exclusive agency is that in an exclusive agency arrangement, the owner can sell his/her property on their own and exclude the broker from any commission.

Hope this helps.
Sam

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