Final answer:
The contract that grants a single broker the exclusive right to sell a property and earn a commission during its term, regardless of who sells the property, is known as an Exclusive Right to Sell Agreement.
Step-by-step explanation:
The contract referred to in the student's question is known as an Exclusive Right to Sell Agreement. In real estate, this type of listing contract gives only one broker the exclusive right to earn the commission by representing the sellers and finding a buyer for the property during the term of the agreement. The broker is entitled to the commission regardless of who actually sells the property, whether it's the broker, the seller, or another party.
Comparing with other types of agreements, an Exclusive Agency Agreement allows the broker to earn a commission only if they are the ones to sell the property. An Open Listing grants multiple brokers the right to sell the property, but only the selling broker receives a commission. A Net Listing allows the broker to keep any amount over a specified net price agreed with the seller.