Exclusive Listing

Definition

  • A legal agreement that gives one real-estate agent the right to sell a property for a specified period. The owner retains the right to sell the property himself or herself without paying the agent a commission.

Synonyms
private listing, select viewing, closed listing, limited viewing

Related Terms and Acronyms

  • Agent (agt) Abbreviation,
    • A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
  • Commission (comm) Abbreviation,
    • A fee paid to a salesperson for selling a product to a customer.
    • An agent's fee for negotiating a real estate or mortgage loan transaction, often expressed as a percentage of the selling price.
  • Cooperating Broker Definition,
    • A real-estate broker who finds a buyer for a property and initiates a negotiation and shares in a commission.
  • For Sale By Owner (FSBO) Acronym, Very Important,
    • An arrangement by which a house's owner tries to sell the house without hiring a real-estate agent. Owners do this to avoid paying a commission.
    Can save the seller money by forgoing realtor fees.
  • Listing Inventories Definition,
    • The dwellings for sale in a given market.
  • Multiple Listing Service (MLS) Acronym, Canada, Very Important,
    • A database that lists all properties in an area that are for sale or lease by Realtors.
  • Open Listing Definition,
    • A property that a number of brokers can market and sell for a commission.
  • Real Estate Agent Definition,
    • A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
  • Real Estate Broker Definition,
    • An individual who is licensed to represent a buyer or a seller of real estate and collects commissions for the work. Most brokers have agents working for them and they collect a portion of those commissions in exchange for providing office space, marketing, and other overhead.
  • Realtor Definition,
    • A real estate broker or an associate holding active membership in a real estate board.
  • Subagent Definition,
    • A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.
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