open listing


Also found in: Dictionary, Legal.
Related to open listing: exclusive agency listing, net listing

Open Listing

In real estate, a situation in which multiple agents list the same house or property. The agent able to sell the property collects the commission. An open listing often occurs when the homeowner needs to sell the property quickly or when the property is otherwise difficult to sell.

open listing

An offer by a property owner to pay a commission to any real estate broker who brings a buyer to the closing table.Rather than pay a 7 percent commission to a listing broker, with the listing broker then splitting that commission with the broker who provides the buyer, an open listing will agree to pay the entire 7 percent to any broker who brings the buyer.

Mentioned in ?
References in periodicals archive ?
Multiple listing services operate with a staff of trained personnel who are able to differentiate between various types of listings (exclusive right to sell, exclusive agency and open listings).
There is no reason for the exclusive broker to push the first offer that comes along, which is exactly what the open listing broker has incentive to do.
An open listing broker tries to do one thing only, make the quickest deal at any price.
But the percentages drastically change when Open Listings looked at the age ranges of the 500 homeowners surveyed.
According to Open Listings, millennials that bought homes in the last decade did so during a time of economic hardship with stagnant wage increases, increasing student loan debt and rising housing prices, so they likely settled on buying a home and now see the different features and amenities new houses have.
Buyers who use Open Listings will also receive a discount on the home purchased through a commission rebate of up to 50 percent.
Opendoor said by integrating Open Listings' online buying experience with Opendoor, the company puts customers in control of the entire process so they can buy, sell or trade-in their home seamlessly be it for retirement, up-sizing for a growing family or moving for a dream job.
The new Web site will offer the most updated information about available sales and rentals in New York City with no "bait and switch" tactics, no pop-up advertisements, no for-sale-by-owner listings, and no open listings.
The video monitors display apartments that are Coreoran exclusives, while a store computer carries more than 6,000 open listings. Supporting documents are available for customers to take home with them.