What is an Open Listing?

What is an Open Listing?

An Open Listing is a non-exclusive agreement where an owner can hire multiple intermediaries to find a buyer or occupant, without granting any single party exclusive rights. Whichever intermediary finalizes a successful transaction collects the commission, while unproductive agencies receive nothing. This arrangement often suits owners wanting broad market outreach without committing to a sole representative.

Key Points:

• No Exclusivity: Multiple agents simultaneously list the same asset, spurring competition.
• Owner Involvement: The owner can also self-market; if they personally secure a deal, no commission is owed to others.
• Risk: Agents may invest less effort, knowing they might not earn if another agency closes first.
• Flexibility: Owners can drop or add agents freely, shaping strategies as needed.

Open listings maximize exposure yet demand well-coordinated messaging to prevent confusion among prospective buyers or occupants.