Ace the Minnesota Real Estate Exam 2026 – Unleash Your Property Powerhouse!

An exclusive right to sell agreement is a specific type of listing contract in real estate that designates a single broker as the sole agent for the sale of a property. This agreement ensures that the listed broker has the exclusive authority to market and sell the property, and the seller is obligated to pay the agreed commission if the property sells, regardless of who finds the buyer. This arrangement not only incentivizes the broker to work diligently to secure a buyer but also provides the seller with the benefit of focused marketing efforts from one dedicated agent.

Other choices do not accurately describe this agreement. A contract allowing multiple brokers to sell the property signifies an open listing, which contrasts with the exclusivity of the agreement in question. A contract requiring the seller to sell at a specified price refers more to a listing price or terms of sale, rather than the nature of the brokerage agreement itself. Lastly, a verbal agreement to sell property lacks the formal structure and legal enforceability of a written exclusive right to sell agreement. Therefore, option B clearly encapsulates the essence of this type of real estate contract.