Which type of listing involves a commission only if the agent finds a buyer?

The type of listing that involves a commission only if the agent finds a buyer is an Exclusive Agency Listing. In this arrangement, the seller retains the right to find a buyer themselves. If the agent is the one who brings a buyer to the table, only then does the seller owe the agent a commission. This model encourages the agent to work diligently to find a buyer while also allowing the seller some independence to sell the property directly without incurring a commission if they succeed in doing so.

A Flat Fee Listing typically involves agreeing to a set fee for the agent's services regardless of whether or not they find a buyer, thereby not fitting the description provided in the question. A Listing Agreement with a Contingency usually incorporates conditions that must be met for the agreement to be valid, which does not directly relate to the specifics of commission based on finding a buyer. An Open Listing allows multiple agents to represent the seller, and the seller only pays a commission to the agent that finds a buyer, which is somewhat similar but lacks the exclusivity that defines an Exclusive Agency Listing.

Understanding the nuances of these agreements is essential for anyone engaged in real estate transactions, as they impact the obligations and rights of both agents and sellers.