What is required for a guaranteed sales plan?

A guaranteed sales plan is typically centered around an agreement between a seller and a real estate agent that guarantees the seller a certain price for their property, regardless of whether the agent is able to sell it at that price. To implement such a plan, an exclusive buyer agency agreement is often required. This agreement ensures that the agent has the sole right to represent the seller in a transaction, which reinforces the agent's commitment to selling the property under the specified conditions of the guaranteed sales plan.

An exclusive buyer agency agreement establishes a formal relationship where the agent is dedicated to finding a buyer and is incentivized to achieve the best outcome for the seller. This exclusivity is crucial as it provides the agent with the necessary authority and motivation to execute a sales plan that includes guarantees.

The other options, while relevant to various aspects of real estate transactions, do not directly pertain to the requirements of a guaranteed sales plan. A standard listing agreement outlines the terms of the sale but does not specifically ensure a guaranteed sale, and a commission split agreement or marketing plan, while important in their own contexts, are not foundational requirements for establishing a guaranteed sales plan.