NAC645.0255. “Exclusive agency listing agreement” defined.

“Exclusive agency listing agreement” means an agreement between a broker and a seller or lessor that:

     1. Meets the requirements of NRS 645.320;

     2. Grants the broker the exclusive right to represent the seller or lessor in the sale or lease of any property; and

     3. Provides the broker with the expectation of receiving compensation if the broker or any other person produces a purchaser or tenant in accordance with the terms of the exclusive agency listing agreement or if the property is sold or leased during the term of the exclusive agency listing agreement, unless the property is sold or leased solely through the efforts of the seller or lessor or to a person who is specifically exempted under the exclusive agency listing agreement.

     (Added to NAC by Real Estate Comm’n by R165-07, eff. 4-17-2008)