Which of the following statements is true of an exclusive agency listing?
A) The broker has the exclusive right to sell the property for a specified period of time.
B) The broker operating under this listing is entitled to a commission only if he or she was the first to find an able buyer.
C) The seller has the right to sell the property himself or herself without being obligated to pay the broker a commission.
D) The seller must pay the broker his or her commission irrespective of who found the buyer.

Question

Quizplus · Accepted Answer

Under an exclusive agency listing, the broker earns a commission if he or any other agent finds a ready, willing, and able buyer during the period of time specified in the contract. Thus, the broker operating under such a listing would have the right to a commission even if another broker actually procured the buyer. Under the exclusive agency listing, however, the seller has the right to sell the property himself without being obligated to pay the broker a commission.

Which of the Following Statements Is True of an Exclusive