What is a key characteristic of an exclusive agency listing?

An exclusive agency listing is a type of real estate agreement where the seller grants only one broker the right to represent them in selling the property. A key characteristic of this arrangement is that the seller retains the right to find a buyer themselves. If the seller finds a buyer without the broker's assistance, they do not owe a commission to the broker. This is why option C is correct, as it emphasizes that the broker is entitled to commission only if they are the ones who find the buyer.

In contrast, the other options do not accurately reflect the nature of an exclusive agency listing. Some listings may specify commission structures differently, but the defining feature of an exclusive agency is that commission arises only from the broker's direct involvement in the sale, not from the seller's independent actions. The time limitation mentioned in one of the options can apply to many types of listings, but it's not exclusive to the agency nature itself. This helps to clarify the specific focus on commission arrangements when discussing exclusive agency listings.