What type of listing allows the seller to retain the right to sell the property themselves?

Prepare for the Illinois Real Estate Broker Exam. Study with interactive questions and expert explanations to enhance your knowledge and skills. Ace your exam with confidence!

The correct answer is the exclusive agency listing. This type of listing agreement allows the seller to retain the right to sell the property independently, without owing a commission to the broker if they find the buyer on their own. In contrast, an exclusive right to sell listing grants the broker the commission regardless of who sells the property, while an open listing does not provide exclusivity to a single broker. A flat fee listing involves a broker charging a set fee for specific services rather than a commission, and it does not necessarily imply that the seller can sell the property themselves. Understanding the nuances of these listing types is crucial for real estate professionals and sellers alike, as it affects the obligations and rights of all parties involved in the transaction.

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