Which of the following best describes an exclusive agency listing?

An exclusive agency listing is a type of contract between a seller and a real estate agent that allows the seller to retain the right to sell the property independently without incurring a commission payment to the agent if they do so. This arrangement means that the agent is given the right to market and sell the property, but the seller is still permitted to pursue buyers directly.

In this scenario, if the seller finds a buyer on their own, they do not owe the agent a commission, which differentiates this listing from an exclusive right to sell listing, where the agent would earn a commission regardless of how the buyer is found. This flexibility can appeal to sellers who wish to maintain some control over the sale process while still benefiting from the agent's expertise in marketing and negotiating.

The other options do not accurately reflect the nature of an exclusive agency listing. The first choice implies that the agent has unrestricted authority, which is not the case in this type of agreement, as the seller maintains specific rights. The third option suggests a requirement for multiple agents, which isn't characteristic of an exclusive agency listing, since it typically involves a single agent working on behalf of the seller. The last choice incorrectly assigns the listing role to the buyer, which does not align with the nature