What is the primary characteristic of an exclusive agency listing?

The primary characteristic of an exclusive agency listing is that only one broker may list the property. This type of listing agreement allows the seller to retain the right to sell the property themselves without incurring a commission cost, should they find a buyer independently. This distinction is crucial because it allows the seller some flexibility while still designating a single broker to market the property and facilitate a sale.

In an exclusive agency listing, the broker has the sole right to represent the seller in the marketing of the property, which enhances their incentive to promote and sell the home effectively. The arrangement balances the interests of both the seller and the broker, as it ensures focused efforts from the broker while preserving the seller's option to avoid commission fees if they secure a buyer on their own.