What is an exclusive right-to-sell agreement?

An exclusive right-to-sell agreement is an agreement between a real estate agent and a property owner in which the agent has the exclusive right to sell the property. This means that no other agents or brokerages may list or promote the sale of the property. The agreement outlines the terms and conditions under which the agent is responsible for aiding in the sale of the property. In Massachusetts, an exclusive right-to-sell agreement must be in writing and signed by the property owner. This document typically covers the period of time the agreement is in effect and outlines the responsibilities of all involved parties. These responsibilities can include setting a listing price, actively marketing the property, and providing updates on the status of the property and any offers to purchase. Additional details can include fees for services, commission splits, and the manner in which the buyer and seller will negotiate any offers. By granting an agent exclusive rights to sell the property, the owner is assured that the agent will put in the necessary work and effort to try to sell the property quickly and for the best possible price. The contract also helps protect the agent from any competition when trying to find prospective buyers. As with any legal agreement, it is important to read and understand an exclusive right-to-sell agreement before signing to ensure all parties understand the terms and conditions.

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What is an exclusive right-to-sell agreement?

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