What is the best type of listing agreement from the Seller’s perspective.
Open Listing. The seller may give an open listing to as many brokers as the seller wishes and the first broker who brings a buyer who is ready, willing and able to purchase at the price and terms agreeable to the seller is the procuring cause and earns a commission. However, the seller has the right to market and sell the property on their own, thus not pay a commission to anyone. There is no exclusive agreement between the seller and the brokerage. Since there is no exclusive agreement or promise of a commission, the broker MAY NOT enter an open listing into the MLS. This type of listing agreement benefits only the seller.