Exclusive agency agreements are often referred to in the sale of residential property.
In this agreement, exclusive rights are given to the one agent to sell your property. Under an exclusive agency agreement, even if you or another agent sells the property, the agent with exclusivity will still earn the commission.
This differs slightly from a sole agency agreement, which entitles the original agent the commission even if another agent sells the property but not if the property is sold through the owner.
It’s important to understand the difference between the two because this could result in thousands of dollars out of your pocket.« Back to Glossary Index