Most brokers request an exclusive listing (or "exclusive right to sell"), a written agreement entitling the listing agent to a commission regardless of who sells the property. The agreement may also provide for a commission even after the listing agreement has expired, if the property is sold to a prospect produced by the broker during the term of the contract.

An exclusive agency listing designates one broker as the "exclusive agent" with entitlement to a commission unless the owner effects a sale without assistance from any broker.

An open listing contract may be given to any number of agents, and often allows the property owner to sell the property directly. In the event of a sale, only the broker who has found a buyer receives a commission.

A multiple listing association enables participating brokers to pool listings and share commissions in order to give maximum exposure to the property.

A broker who produces a purchaser who is ready, willing and able to buy the property on the terms specified in the listing agreement (or otherwise acceptable to the seller) is normally entitled to a commission. The fee (typically a negotiated percentage of the selling price) should be stipulated in the agreement.

Although contracts may sometimes provide for payment of a commission only if a sale is completed (or "closes"), the seller usually must pay a broker who performs according to an agreement, regardless of whether the sale was ever consummated. In other words, if a sale fails to close because a seller reneges, the seller generally must pay the commission.

A broker's role may be negotiated by the parties to the agreement, but the broker is usually the seller's agent. In representing the seller's interests, a broker must report all offers and proposals. The broker or agent sometimes acts as an intermediary, delivering offers and counteroffers between the buyer and seller. Rates, terms and services vary with the type of listing, geographical area and other factors.