Study Cards - Tucker School of Real Estate

Chapter 6

Exclusive-right-to-sell Listing Agreement

Click here for the Answer

Listing where one agent is hired to exclusively represent the seller. If property sells, a fee is due regardless of the source of the buyer.

Buyer Agency Agreement

Click here for the Answer

Employment agreement where the agent is hired to represent a buyer.

Exclusive-agency Listing Agreement

Click here for the Answer

Listing where one agent is hired to exclusively represent the seller, but the seller retains the right to find a buyer on their own without having to pay a commission.

Open Listing

Click here for the Answer

Listing where the seller may hire one or many agents on a "non-exclusive" basis, reserving the right to find a buyer themselves. Agents earn a fee only if they procure the buyer.

Net Listing

Click here for the Answer

Listing where Broker is entitled to any amount of the sales price in excess of the agreed "net" to the seller. Indiana law requires the maximum fee be stated.

Option Listing

Click here for the Answer

Listing where the Broker has the right or option to purchase the property. (Could raise conflict of interest issues).