exclusive agency
- A specific type of agreement typically used in real estate sales where the property owner promises not to hire any other agents to sell the property except for the one they've already hired for a predetermined period
- The property owner signed an exclusive agency agreement ensuring only one real estate agent had the rights to market his home.
- In an exclusive agency scenario, the owner cannot enlist the help of other brokers for the duration of the agreement.
- The exclusive agency contract prevented the homeowner from using other brokers to advertise his property for sale.
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