Ted Richardson owns a large industrial building in your city that he wishes to sell. As a real estate broker, you would be delighted to obtain the listing on this property. You have worked with Richardson on two other transactions in which he was the buyer; therefore, you approach Richardson to request that he consider listing his property with you. Richardson agrees to do so, but indicates that he will not give you an exclusive right of sale listing, because he wants to retain the right to sell the property himself without owing a real estate commission. He will, however, give you an exclusive agency listing.

a. What should you do? Should you accept such a listing from Richardson?

b. Are there any provisions that you would propose including in the listing contract to give yourself some protection?