It is interesting to know that there are non-exclusive agreements when it comes to real estate agents. I intend to find a commercial real estate agent soon to get a glimpse of the state of the market. That way, I can decide whether it`s time to start investing. There are at least three types of list agreements that can be used in commercial real estate transactions. The first and most common form is the exclusive right to sell. In this type of listing agreement, the listing broker is allowed to collect a commission, even if the owner sells the property without the listing broker being involved. The exclusive sale agreement protects the broker`s commission by providing that the seller must pay the broker, even if the property is sold by the efforts of the seller or the efforts of another broker without the participation of the listing broker. Gudim Realty, Inc. Hughes, 284 Minn. 39, 42, 169 N.W.2d 216, 218 (Minn.
1969); Dostal v. Fore-M, LLC, 2006 WL 1320501 at 2 (Minn. Ct. App. The seller does not want to argue with the broker over whether the seller foiled the real estate agent`s efforts to sell the property because the seller arbitrarily refused a specific buyer or offer. In order to avoid such taxation, the listing agreement should expressly provide that the seller retains absolute control of the process of selecting a potential buyer, negotiates with that buyer and concludes or not (subject, of course, to state and federal anti-discrimination laws, etc.). Some list agreements contain a language that could be read to create an unspoken obligation for the seller to accept an offer if he fulfills the list price or if it is acting in an economically reasonable manner during the sales process. The seller should object to this type of language and state in the listing agreement that the seller is free to accept or refuse any buyer, terminate or pursue a contract, terminate or not enter into a contract and act otherwise with respect to the sale of the property to the extent that the seller wishes at his discretion.