Which of the following best describes an “exclusive agency” listing?

An “exclusive agency” listing is characterized by the fact that the seller retains the right to sell the property themselves without incurring a commission fee to the broker. This means that while the broker has the right to market and sell the property, if the seller finds a buyer on their own, they can complete the sale without paying the broker's commission. This listing type creates a balance where the seller has some control over the sale process and can choose to engage the broker’s services without being locked into a commission obligation if they sell the property independently.

The other options do not accurately reflect the nature of an exclusive agency listing because they either imply that the seller has no right to sell on their own, that they must work with multiple agents (which contradicts the exclusivity), or that the agent would receive a commission regardless of who sells the property, which is not true in this type of arrangement.