Definition of Exclusive Agency:
Orange County, California Exclusive Agency:
A BanCorp agent who takes an exclusive agency listing is taking one that is similar to an open listing except the main difference is that BanCorp will represent the owner. The owner of the home still reserves the right to sell the property and not pay a commission. The broker’s office (BanCorp) is free to cooperate with another Orange County brokerage, meaning the second brokerage could find an able buyer whose offer the owner elects to move forward with. In this situation the broker is paid a listing commission that is shared with the selling broker, so the owner pays both fees – to the listing agent and to the selling agent.