What characterizes an exclusive agency listing in real estate?

An exclusive agency listing is characterized by the fact that while one broker is given the exclusive right to market and sell the property, the seller still retains the right to sell the property themselves without incurring a commission obligation to the broker. This arrangement allows the seller greater flexibility, as they can pursue potential buyers independently. If the seller finds a buyer on their own, they do not have to pay the broker any commission, which is a distinct feature compared to other types of listings.

In an exclusive agency listing, the broker is responsible for marketing the property and facilitating the sale but does not receive a commission if the seller sells it independently. This arrangement encourages the seller to engage actively in the selling process while still having the professional support of a broker. Other types of listings, such as exclusive right-to-sell, would not offer this flexibility, as the commission would be owed to the broker regardless of how the buyer is found.