Exclusive agency listing

This is a listing where the seller employs a listing broker to sell the property; however, the seller also reserves the right to sell the property himself/herself to a prospect without payment of a commission (or possibly at a reduced fee payable to the listing broker only). These listings may optionally be submitted to the MLS; however, cooperating brokers have a right to know that a listing is an Exclusive Agency listing for the reason that, unfortunately, some sellers might attempt to entice buyers away from cooperating brokers by offering to do the deal direct at a reduced fee.