Which agreement ensures a broker will receive a commission even if the seller finds the buyer themselves?

Prepare for the Law of Agency Test. Delve into multiple choice questions featuring hints and explanations. Sharpen your understanding of agency law and gear up for success!

The exclusive right to sell agreement is a specific type of listing contract in which the seller grants a broker the exclusive right to market and sell the property. The key feature of this agreement is that the broker is guaranteed a commission no matter how the buyer is found—whether it's through the broker’s efforts or if the seller finds a buyer on their own. This agreement incentivizes the broker to put forth their best marketing efforts, knowing that they will receive compensation for their work regardless of who ultimately brings in a buyer.

In contrast, an exclusive agency listing allows the seller to find a buyer independently without owing a commission to the broker if they close the deal themselves. An open listing agreement is non-exclusive and permits multiple brokers to market the property, with the seller only paying a commission to the broker who successfully sells the property. An option agreement is typically related to lease or purchase options rather than a commission structure in property sales and does not pertain to broker commissions.

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