2. © 2009 South-Western, Cengage Learning

3.  EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT Most common Agent has exclusive control

4. © 2009 South-Western, Cengage Learning  EXCLUSIVE AGENCY LISTING AGREEMENT Exclusive agent Seller can exclude agent

5. © 2009 South-Western, Cengage Learning  OPEN LISTING AGREEMENT (NON-EXCLUSIVE) Any number of agents – only procuring cause benefits

6. © 2009 South-Western, Cengage Learning  EXCLUSIVE BUYER REPRESENTATION AGREEMENT Most common Agent has exclusive control  EXCLUSIVE AGENCY BUYER AGREEMENT Exclusive agent Seller can exclude agent  OPEN BUYER REPRESENTATION AGREEMENT Any number of agents – only procuring cause benefits

7. © 2009 South-Western, Cengage Learning  SUBAGENCY Informed written consent – owner’s vicarious liability  FACILITATOR RELATIONSHIP AGREEMENT Non-agent Caution to avoid acting as an agent

8. © 2009 South-Western, Cengage Learning  NET LISTING Always illegal for sales or rentals  DUAL AGENCY (Disclosed) Written consent and written notice

9. © 2009 South-Western, Cengage Learning  PRICING THE PROPERTY Licensee may advise or recommend Only the principal sets the price  SELLER STATEMENT OF PROPERTY CONDITION Not legally required in Massachusetts

10. KEY TERMS © 2009 South-Western, Cengage Learning exclusive agency exclusive buyer agency exclusive buyer representation exclusive right to sell net listing open buyer representation open listing