Exclusive agency and exclusive right to sell listings

Both exclusive agency and exclusive right to sell listings require:

  1.  A definite termination date.
  2.  A commission be paid to the broker in the contract, as long as the property is sold and regardless of who sells the property.
  3.  The broker named in the contract may not cooperate with other brokers even if authorized by the seller.

The answer is A.  Both types of contracts require a definite termination date.