Which type of listing agreement is typically express and executory?

An exclusive right to sell listing agreement is typically express and executory because it is a formal agreement between a property owner and a real estate broker that grants the broker the exclusive right to market and sell the property. This agreement is considered express because it is specifically stated in written form, laying out the terms and conditions of the listing, including the duration of the agreement, the commission rate, and other essential details.

Furthermore, it is executory because it outlines obligations that both parties must fulfill. The broker is obligated to actively market the property and find a buyer, while the property owner is obligated to pay the agreed commission, irrespective of who ultimately sells the property. This mutuality of obligation defines the executory nature of this agreement. In contrast, the other types of listing agreements may not offer the same level of exclusivity or explicit terms that characterize an exclusive right to sell listing.