net listing
net listing
An arrangement in which a property owner pays the listing real estate agent all purchase price proceeds over and above a minimum figure required by the owner. Because the real estate agent is usually the one to recommend an asking price to the owner, the practice is very susceptible to abuse.As a result,it is illegal in some states.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.