Glossary

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Open Listing
Property owners have several options for listing their property for sale. They may choose an open listing, which allows any agent to show and sell their property. This non-exclusive listing agreement allows the owner to secure the services of several brokers at the same time. Another alternative listing option is an exclusive right to sell listing. Most listings fall into this category where the agent receives a commission regardless of who sells the property. An open listing eliminates the exclusivity clause in the listing contract. Normally, agents or brokers they represent do not market or advertise the property, but do have the right to show it to any prospective buyers. They earn a commission if they sell it. There are benefits to this type of listing for property owners. They only pay an agreed-upon commission if the agent brings a buyer. The agent does not have to share a commission.