Exclusive Right to Represent
An exclusive right-to-represent agreement in real estate is a contractual arrangement between a property owner (seller) and a licensed real estate agent or broker. In this agreement, the seller grants the agent exclusive rights to represent and market the property for sale within a specified period. Unlike other types of agreements, such as open listings or exclusive agency agreements, the exclusive right-to-represent agreement stipulates that the agent is entitled to a commission regardless of who procures the buyer during the agreement period. This means that even if the seller finds a buyer independently or through another agent, the agent named in the exclusive agreement is still entitled to receive the agreed-upon commission upon the successful sale of the property. This arrangement provides the seller with dedicated representation and ensures that the agent is motivated to prioritize the sale of the property.