In most instances, Brokers prefer an Exclusive Right To Sell Agency Agreement, as opposed to an Exclusive Agency Agreement. Such agreements are vastly different in scope, and express the extent to which property owners are willing to cooperate with Brokers.
Under an Exclusive Right to Sell Agreement, Brokers
are assured of an unrivaled and exclusive right to represent a property as “for
sale”, to all parties, for a disclosed period of time, under qualified terms
including negotiated fees for professional services. Both Broker and property owner are bound by the terms of the
Agreement, providing however that the same is legal in nature, and thus
stipulated. In nearly all instances,
most Brokers will not accept verbal assignments of a property owner’s request
to sell real estate. Although verbal or parole agreement are legal, the same may
not be enforceable.