Agency
What is an exclusive listing agreement in Nevada?
AA listing that can be shared with any MLS member broker
BA listing agreement where only one broker has the exclusive right to represent the seller during the listing period✓ Correct
CA listing only for luxury properties over $1 million
DA listing that cannot be canceled by the seller
Explanation
An exclusive listing gives one broker the exclusive right to represent the seller. Two common types: Exclusive Right to Sell (broker earns commission regardless of who finds the buyer) and Exclusive Agency (seller retains the right to sell without paying commission).
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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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