Question

A broker offers a listing agreement giving the broker's office sole permission to sell the property for a period of 120 days. The sellers want to reserve the right to sell the property themselves without paying a commission. In this situation, the listing agreement that will BEST protect both parties' interests is a(n) _.

Answer 1

The best listing agreement for the given situation is an Exclusive Agency Listing, which allows the brokerage to market the property but lets sellers sell on their own without a commission.

Step-by-step explanation:

In the scenario where a broker offers a listing agreement but the sellers wish to reserve the right to sell the property themselves without paying a commission, the listing agreement that would best protect both parties' interests is a Exclusive Agency Listing . This type of agreement allows the sellers to maintain the right to sell the property on their own without paying a commission, while simultaneously giving the brokerage the exclusive right to market the property. The Exclusive Agency Listing helps prevent conflicts regarding commissions if the sellers find a buyer independently.