Final answer:
An exclusive right-to-sell contract grants the seller the exclusive legal right to sell a property during a specified period of time. It is commonly used in real estate transactions to guarantee a specific agent the commission if the property is sold.
Step-by-step explanation:
An exclusive right-to-sell contract grants the seller the exclusive legal right to sell a property during a specified period of time. An exclusive right-to-sell contract grants the seller the exclusive legal right to sell a property during a specified period of time. It is commonly used in real estate transactions to guarantee a specific agent the commission if the property is sold.
It is a type of contract commonly used in real estate transactions, where the seller agrees to work exclusively with a specific real estate agent to market and sell the property. This means that the seller cannot work with any other agents during the duration of the contract.
The exclusive right-to-sell contract provides the agent with the incentive to invest time and resources into selling the property, as they are guaranteed the commission if the property is sold, regardless of who brings in the buyer.