What is one of the key components of an exclusive right to sell agreement?

One of the key components of an exclusive right to sell agreement is that the broker receives a commission regardless of who sells the property. This type of agreement guarantees the broker a commission if the property is sold during the agreement period, even if the seller finds a buyer independently. This component incentivizes the broker to market the property effectively, as they are assured of compensation for their efforts once the property is sold, fostering a stronger partnership between the seller and the broker.

In contrast, the other options do not align with the nature of this specific type of agreement. For instance, the concept that the seller retains more rights than the broker can be misleading, as the agreement is designed to grant the broker the exclusive right to sell the property, thereby limiting the seller's ability to work with other brokers simultaneously. Stating that the brokerage must complete the transaction implies a guarantee that may not occur, as external factors can influence the success of the sale. Lastly, the assertion that the contract is non-binding contradicts the fundamental nature of an exclusive right to sell agreement, which is a legally binding contract that obligates the seller to work exclusively with the chosen broker during the term of the agreement.