What is meant by "exclusive right to sell"?

The term "exclusive right to sell" refers to a specific type of listing agreement in real estate that grants a single broker the exclusive authority to market and sell a property. This means that regardless of who actually sells the property—whether it’s the broker or the property owner themselves— the broker is entitled to a commission when the property is sold. This arrangement provides the broker with a secured incentive to actively promote the property, knowing that their efforts will lead to compensation if a sale occurs.

This agreement stands out because it creates a clear and definitive relationship between the property owner and the broker, ensuring that all marketing and sales strategies are coordinated under this exclusive arrangement. The nature of this contract encourages brokers to invest their resources into selling the property effectively, as they have the assurance of a commission if the sale is successful. The clarity and exclusivity help streamline the sales process for both the property owner and the broker.