What listing agreement ensures only one broker is entitled to a commission if the property sells during the contract period?

The exclusive right to sell listing agreement is significant because it grants one broker the full authority to market and sell the property, and importantly, it guarantees that this broker will receive a commission no matter who sells the property during the contract period. This means that even if the owner finds a buyer on their own, the broker is still entitled to the agreed commission.

This type of listing agreement is beneficial for the broker as it encourages them to invest more time and resources into marketing the property, knowing that they will earn a commission for their efforts regardless of who ultimately facilitates the sale. It provides clear parameters and guarantees a higher level of commitment from the broker to promote the property effectively.

In contrast, other options like the open listing allow multiple brokers to market the property, with only the broker who brings in the buyer receiving a commission, while the exclusive agency listing allows the owner to sell the property independently without incurring a commission if they do. The multiple listing service is not a type of listing agreement but rather a system used by brokers to share property listings and commissions.

Understanding the nuances of these agreements is crucial for real estate professionals, as they shape sales strategies and commission structures throughout a given transaction.