What is an exclusive right of sale listing?

An exclusive right of sale listing must indeed be in writing and signed by both the seller and the broker. This type of listing agreement gives the designated broker the exclusive right to sell the property, meaning they will receive a commission regardless of who sells the property, whether it's the broker themselves or another agent. The written formality of this agreement provides both parties with a clear understanding of their rights and obligations and ensures legal enforceability.

This aspect underscores the significance of a written agreement in real estate transactions, further establishing the broker's authority in representing the seller throughout the sale process. Without a signed, written contract, the terms of the listing could be disputed, leading to potential legal complications. This is why having a written and signed document is essential in forming a legally binding agreement for an exclusive right of sale listing.