Exclusive Right-to-Sell Listing Contracts
Posted by PRO Sat, 25 Mar 2006 15:48:14 GMT
An exclusive right-to-sell contract is an agreement in which the seller agrees to pay a commission to the listing broker whether the property is sold through the efforts of the listing broker, seller, or cooperating brokers, except that the seller may name one or more individuals or entities as an exception in the listing contract (exclusion). If the property is sold to an exempted individual or entity, the seller is not obligated to pay a commission to the listing broker. Exclusions and variable commission rates must be noted in the MLS.