What does Exclusive Agency or Exclusive Right mean?
There are two types of listing contracts allowed for entry in GNMLS. Both are exclusive between the seller(s) and the real estate firm(s) listed on that single listing contract. In GNMLS we historically see about 90% Exclusive Right-to-Sell Listings.
With an Exclusive Agency Listing, the listing broker is entitled to commission if the property is sold by ANY real estate broker. If the sale is the result of solely the seller(s) efforts, then the seller(s) is not obligated to pay the listing broker a commission.
With an Exclusive Right-to-Sell Listing, the listing broker is entitled to commission no matter who sells the property EXCEPT if the property is sold to a named exemption. Then it would be referred to as an Exclusive Right with named exemptions listing.
NAR's MLS Policy Handbook includes definitions for various listing types at: NAR Listing Agreement Types
Exclusive Agency Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker if the property is sold through the efforts of any real estate broker. If the property is sold solely through the efforts of the seller(s), the seller(s) is not obligated to pay a commission to the listing broker.
Exclusive Right-to-Sell Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker, regardless of whether the property is sold through the efforts of the listing broker, the seller(s), or anyone else; and a contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker regardless of whether the property is sold through the efforts of the listing broker, the seller(s), or anyone else, except that the seller(s) may name one or more individuals or entities as exemptions in the listing agreement and if the property is sold to any exempted individual or entity, the seller(s) is not obligated to pay a commission to the listing broker.