What is an "exclusive listing" in real estate?

An exclusive listing in real estate is a specific type of listing agreement that grants a single broker the exclusive right to sell a property. This means that the property owner enters into a contract with one broker, allowing that broker to represent the owner in the sale of the property. This arrangement gives the broker the assurance that no other broker can sell the property during the term of the agreement, making them more motivated to market the property effectively.

The benefits of an exclusive listing can include a more focused marketing strategy and stronger negotiations, as the broker is fully dedicated to selling that property. Additionally, since the broker knows they are the only one handling the sale, they might invest more time and resources into promoting the property.

In contrast, the other options do not accurately describe an exclusive listing. A listing open to all brokers would be a different arrangement known as an open listing, which allows multiple brokers to attempt to sell the property. A public listing for multiple selling options could refer to various types of listings but doesn't specifically define the exclusivity of a single broker. Lastly, a type of auction listing format does not relate directly to the concept of exclusivity in representation.