Question

You're working with a couple who state they definitely must sell at a price of 275,000. They're more concerned about getting that price than the amount of commission they'll pay, and they say you can keep any amount the sale brings in that's more than 275,000. What type of listing is this?

1) Open listing
2) Exclusive agency listing
3) Exclusive right to sell listing
4) Net listing

Answer 1

This is an exclusive agency listing where the agent will receive a commission if the property sells for a price higher than $275,000.

Step-by-step explanation:

This type of listing is known as an exclusive agency listing. In an exclusive agency listing, the seller agrees to work exclusively with one real estate agent or agency, but reserves the right to sell the property themselves without owing a commission. If the agent is able to sell the property for a price higher than the specified amount of $275,000, they will receive a commission on the amount exceeding that price. However, if the property is sold for the exact amount of $275,000, the agent will not receive any commission.