Exclusive Agent

This means that only one estate agent has been instructed to handle the sale of the property. To avoid future problems, a sole agency agreement should be agreed for a specific period of time. Commission becomes payable if the estate agent arranges the sale, but not if the seller arranges this himself.

Sole selling rights is the same as sole agency except you have to pay the estate agent even if you find your own purchaser, such as a friend. Multiple agency agree ments allow you to market the property with several agents and, as a result of the extra competition for buyers, agents charge higher fees.

Exclusive Agency Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker if the property is sold through the efforts of any real estate broker.

Exclusive agents in the insurance industry, or captive agents, are contracted to sell policies for a single insurance company; independent agents can sell the policies of many different companies.In addition, all agents may sell annuities, but a securities license is required to sell variable annuities.

If the seller succeeds in selling the property by their own efforts, they are not required to pay the original agent any commission if it is a sole agency. Under an Exclusive arrangement, the sellers pay commission to the agent regardless of whether the sellers sell the property themselves.

An exclusive listing is a type of real estate listing agreement in which a property seller appoints and specifically authorizes one real estate broker to act as the seller's sole agent. By contrast, in an open listing, the seller retains the right to employ any number of brokers as agents.

Known also as captive agents, exclusive agents are those who work exclusively for one insurance company and who may not represent another company.

A Non-Exclusive agreement basically states that you can have more than one agent and is a popular choice for actors that work out of different cities. You can have one agent for New York and another for Los Angeles. The agent that gets paid is the one who sent you to the audition. Contract terms.

The biggest difference when comparing an exclusive right to sell listing to exclusive agency listing, is whether or not the agent is guaranteed a commission. An exclusive agency listing does not guarantee an agent commission, while an exclusive right to sell listing does guarantee commission when your home sells.