In a listing agreement where the broker is guaranteed a commission on the sale, regardless of who finds the buyer, what is this agreement called?

In a listing agreement where the broker is guaranteed a commission on the sale, regardless of who finds the buyer, this is referred to as an Exclusive Right to Sell Agreement. This type of agreement establishes that the listing broker has the sole right to earn a commission on the sale of the property, even if a buyer is brought in by the seller or another agent.

The key aspect of the Exclusive Right to Sell Agreement is that it protects the broker's commission. It creates an obligation for the seller to pay the agreed-upon commission to the broker if the property is sold during the listing period, regardless of the source of the buyer. This gives the broker a strong incentive to market the property effectively, as they can be assured of compensation if the property is sold.

By contrast, an Exclusive Agency Listing allows the seller to retain the right to sell the property themselves without owing a commission to the broker, if they find the buyer independently. An Open Listing is generally non-exclusive and can be listed with multiple brokers, allowing the seller to pay a commission only to the broker who finds a buyer. The Right of First Refusal is a completely different concept that refers to an agreement giving a party the right to purchase a property before the owner can sell it to others