Final answer:
A broker is entitled to a fee from a seller in an exclusive right-to-sell listing agreement when the property is sold within the specified agreement period, regardless of the buyer's originator. Legal implications of exclusive agreements vary depending on their impact on market competition, like exclusive automotive dealer agreements versus potential anticompetitive retailer distribution rights.
Step-by-step explanation:
An exclusive right-to-sell listing agreement entitles a broker to a fee from a seller in real estate transactions when the property is sold within the timeframe specified in the agreement, regardless of who finds the buyer. This type of agreement is common as it ensures that the broker receives compensation for their marketing efforts and time invested in selling the property. It's important to differentiate this from exclusive dealing agreements in general commerce which can impact market competition and are subject to legal scrutiny.
For instance, while it is legal for automotive companies like the Ford Motor Company to sell vehicles exclusively through their respective dealers to foster competition among them, the arrangement could become illegal if it limits market competition in other scenarios. An example of an anticompetitive effect could be if one retailer gains exclusive distribution rights for multiple product categories, hindering other retailers' ability to compete.