PSI Oklahoma Real Estate Practice Test 2026 – The Complete Guide to Exam Success!

An exclusive agency listing gives the seller the right to sell their property independently while still being under contract with a broker. This type of listing allows the seller to retain more control and potentially save on commission fees if they successfully find a buyer on their own. The broker's commission is only earned if the broker brings a buyer to the table. Therefore, if the seller sells the property without the broker's assistance, they do not owe a commission to that broker. This arrangement incentivizes both the seller and the broker to work together to sell the property while still allowing the seller the option to pursue an independent sale.

In contrast, an exclusive right to sell listing ensures that the broker earns a commission regardless of who sells the property, while an open listing allows multiple brokers to market the property, giving the seller broad options but also creating potential competition among brokers. A net listing typically sets a minimum amount the seller wishes to receive, with the broker keeping any amount above that as commission, which can be problematic from a regulatory standpoint.