Glossary

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Exclusive Listing
An exclusive listing is used to define an agreement between a seller and a real estate agent, which gives the agent exclusive rights to sell the home. Exclusive listings are typical and customary in the real estate business. Agents need to be assured that they will be compensated for their efforts in selling the home. Real estate agents in an exclusive listing usually perform all of the marketing and advertising efforts involved in the sale. If another agent brings the buyer, the commission is split between the two agents. The terms of the agreement between the two agents is separate and determined by what is agreed upon. An exclusive listing usually describes a duration in which the agent is going to be given the exclusive rights to sell the home. In most cases it is three months, but the agreement can be modified, depending on the market and interest in the home.