Agency
In NJ, an 'exclusive agency' listing differs from an 'exclusive right to sell' listing in that under an exclusive agency listing:
AThe broker earns a commission no matter who sells the property
BThe seller retains the right to sell the property themselves without owing a commission to the broker✓ Correct
CMultiple brokers share the listing
DThe listing automatically enters the MLS
Explanation
Under an exclusive agency listing, the broker has the exclusive right to market the property, but if the seller personally finds and closes with a buyer without the broker's assistance, no commission is owed. This differs from exclusive right-to-sell, where commission is always due.
Related New Jersey Agency Questions
- A NJ listing agent who recommends that the seller accept an offer because the buyer is a personal friend of the agent, without full consideration of the seller's interests, is breaching the duty of:
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