Alberta Real Estate Licensing Exam Practice · Question
What is the key characteristic of 'exclusive agency' in a listing agreement?
In an exclusive agency agreement, the seller retains the right to sell the property directly to a buyer without paying commission to the listing brokerage.
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Question: What is the key characteristic of 'exclusive agency' in a listing agreement?
Answer options:
- Only the listing brokerage can sell the property, no commission if seller finds buyer
- The seller owes commission only if the listing brokerage sells the property ✅ The seller can sell the property themselves without owing commission to the brokerage
- Multiple brokerages can list and sell the property
Correct answer: The seller can sell the property themselves without owing commission to the brokerage
Explanation: In an exclusive agency agreement, the seller retains the right to sell the property directly to a buyer without paying commission to the listing brokerage.
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