What term describes an agreement where the seller has exclusive rights to work with one agent?

The term that describes an agreement where the seller grants exclusive rights to work with one agent is known as an exclusive right to sell agreement. In this type of agreement, the seller commits to work exclusively with a single real estate agent or broker, who is entitled to receive a commission regardless of who finds the buyer for the property.

This arrangement provides a strong incentive for the agent to market the property aggressively, as they are assured of a commission upon the successful sale—whether they bring the buyer themselves or someone else does. The exclusive right to sell agreement is beneficial for the seller as it ensures continuity of advice and representation throughout the selling process, while also allowing the agent to fully invest resources into the marketing strategy.

Other agreement types differ in important ways. An exclusive agency agreement allows the seller to sell the property independently without owing a commission to the agent if they procure a buyer themselves. Open listing agreements permit the seller to work with multiple agents, where only the agent who brings forth a buyer earns a commission. A net listing agreement allows the agent to keep any amount received over a specified net price for the seller, which can create conflicts of interest. These distinctions underline the unique nature and benefits of the exclusive right to sell agreement.