In what type of agency agreement do agents earn a fee only upon selling the property?

An exclusive agency agreement is a type of listing where the agent is entitled to a commission only if they are the one who finds a buyer for the property. This means that the seller retains the right to sell the property themselves without owing a commission to the agent, unless the agent is the one who facilitates the sale. This arrangement aligns the agent's motivation with selling the property, as they earn a fee solely based on their performance.

This type of agreement is beneficial for sellers who may want to save on commission fees if they find a buyer independently. In contrast, other types of agreements, such as the full service agreement, typically involve a broader range of services where the agent is compensated regardless of whether they successfully find a buyer. Similarly, owner-seller agreements or payment in advance agreements do not have the same structure of earning only upon a successful sale, which is a defining characteristic of the exclusive agency agreement. Thus, this type of agency aligns the interests of the agent and the seller, incentivizing the agent to actively market and sell the property.