Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
The official definition of exclusive agency is granting exclusive/sole rights to any agent for selling a property in a specific location or zone or market. This is a contract that offers the exclusive right to any agent or agency in terms of dealing with property or real estate.
These contracts are often seen in the real estate sector. This agreement represents a legal contract between a home seller and real estate company, giving it the only rights for marketing and selling a property or project. The exclusive right of sale is a different agreement. Here, sellers cannot hold onto their rights of marketing and selling homes without the payment of any commissions. For these agreements (exclusive agency), the seller will keep the right to sell and market a home without the payment of any commission to the listing entity or firm or agent, if the buyer is independently discovered. There could be sellers’ or buyers’ exclusive agency agreements in the real estate sector.
