Exclusive Right To Sell
A contract with a real estate broker that requires all sales negotiations to pass through the broker. The seller is liable for a commission if the property is sold, even if he or she personally found the buyer & brought about the sale.
- Example : Parker is trying to sell his house. He hired Tiffany, a licensed NYS real estate broker. They signed an exclusive right to sell agreement for 6 months. Three months later, Parker was approached by his neighbor who offered to buy the house. Park accepted and the sale was effectuated. Tiffany is still entitled to a commission on the sale of Parker’s home.