Glossary

Exclusive Agency Listing A listing contract under which the owner appoints a real estate broker as his or her exclusive agent for a designated period of time to sell the property, on the owner’s stated terms, for a commission. The owner reserves the right to sell without paying anyone a commission if he or she sells to a prospect that has not been introduced or claimed by the broker.

Exclusive-Right-To-Market Listing A listing contract under which the owner appoints a real estate broker as his or her exclusive agent for a designated period of time to sell the property, on the owner’s stated terms, and agrees to pay the broker the broker commission when the property is sold, even if the property is sold by the owner

Limited Agent According to Vermont Law, a brokerage shall not act as an agent for both a buyer and a seller in the same transaction except as a limited agent. When a brokerage firm already represents both a seller and a buyer who want to participate in the same real estate transaction the firm may act as a limited agent on behalf of both the seller and the buyer with the informed consent of each.

Buyer Agent A real estate broker or salesperson that represents the prospective purchaser in a transaction. The buyer agent owes the purchaser the common-law or statutory agency duties.


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