Final answer:
An exclusive right-to-sell listing is made enforceable by agreed-upon terms like duration, price, and commission, not necessarily by a seller disclosure. Seller disclosures involve providing property condition information and are separate from the enforceability of the listing agreement.
Step-by-step explanation:
To be enforceable, an exclusive right-to-sell listing requires several elements, but a seller disclosure is not typically considered a mandatory element for enforceability. Rather, an exclusive right-to-sell listing agreement needs to have mutually agreed upon terms, such as the duration of the agreement, the listing price, the commission to be paid to the listing agent, and a clear designation that the listing agent has the exclusive right to sell the property within a specified time frame. A seller disclosure usually pertains to the seller providing information about the property's condition and may be required by state laws at the point of sale, but it is not what makes the listing agreement itself enforceable.
Furthermore, the approach for dealing with imperfect information in the market could involve the seller providing warranties, engaging in transparent communication, and offering complete and comprehensive information about the product or service being sold. Such practices establish trust with potential buyers.