Open Listing
An open listing lets a seller authorize one or more brokers on a nonexclusive basis. Compensation generally goes to the broker who procures a buyer under the listing terms.
🎬 Video Explanation
Exam Tip
Open listing means nonexclusive. Look for the broker who satisfies the listing’s compensation and procuring-cause terms.
How an open listing works
The seller can authorize multiple brokers and can ordinarily sell independently without paying an open-listing broker. The written agreement governs the compensation trigger and any term, notice or protection provision. Procuring cause depends on the broker’s role in producing the transaction. The first introduction alone does not settle every dispute.
Compare listing agreements
| Type | What the seller authorizes |
|---|---|
| Open listing | Multiple brokers may compete for the transaction. |
| Exclusive agency | One listing broker, with an independent-sale exception for the owner. |
| Exclusive right to sell | One listing broker, with compensation ordinarily due even if the seller procures the buyer during the term. |
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