Agency
What is the difference between an exclusive right to sell listing and an exclusive agency listing in Nevada?
AThey are legally identical
BIn an exclusive right to sell, the broker earns a commission regardless of who finds the buyer; in an exclusive agency listing, the seller can sell themselves without paying a commission✓ Correct
CAn exclusive agency listing prevents all other brokers from showing the property
DAn exclusive right to sell is only for luxury properties
Explanation
In an Exclusive Right to Sell listing, the listing broker earns a commission regardless of who procures the buyer. In an Exclusive Agency listing, the seller retains the right to sell the property themselves without owing a commission.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Math Concepts
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