What defines an exclusive agency listing?

An exclusive agency listing is characterized by the owner's right to sell the property independently without incurring a commission if the sale occurs without broker involvement. This means that while the broker has the right to earn a commission if they are the one to facilitate the sale, the owner retains the option to sell the property on their own terms without paying the broker a fee if a sale is executed without their assistance. This arrangement provides the owner with greater flexibility compared to other listing types, specifically allowing them to avoid a commission cost while still giving the broker a chance to earn a fee if they secure a buyer.

Other options describe aspects that do not align with the concept of an exclusive agency listing: some suggest an indefinite control by a broker or unrestricted access to multiple brokers, which is not applicable in this context.