The contract in question is an Exclusive Agency Listing, allowing the broker exclusive rights to the sale, but granting the owner the right to sell and avoid commission if they find the buyer.
The type of agency relationship described in the question pertains to a real estate contract known as an Exclusive Agency Listing. This agreement allows the real estate broker to act as the exclusive agent for the sale of the property, yet it also permits the owner to sell the property directly without the obligation to pay the broker a commission if the owner finds the buyer independently. This setup incentivizes the broker to work diligently to sell the property while also giving the owner the flexibility to seek out buyers on their own terms.
With an Exclusive Agency Listing, the owner retains the exclusive right to sell the property on their own, which differentiates it from an Exclusive Right-to-Sell listing, where the broker earns a commission no matter how the property is sold.
So, the contract preserves the dual advantage for the property owner while still offering a considerable opportunity for the broker to represent and sell the property.