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The Holdover Period says that a listing broker may be entitled to a commission after the expiration of a listing contract for the period of time specified in the clause if: 1) the broker negotiated with the buyer during the listing period and 2) the broker submitted the name of this buyer in writing to the seller.
An Exclusive Brokerage addendum relieves a broker from any obligations of advertising a property. An Open Listing allows a broker to receive compensation even if another broker sells the property.
Exclusive agency listing: Agents get paid in this type of agreement only if they sell the property. No fee is earned if the owner alone sells the property. Open listing: In this type of agreement, sellers have the right to use as many brokers as they want.
Exclusive listing is when a property owner enters into a legal agreement with a brokerage and its designated agent to market the sale of a property within a given time frame.