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 ?
In analyzing the transactions which occurred in our marketplace, the sales prices of the properties which were exclusively listed were, on average, 12 percent higher than the prices obtained for properties which were listed on an open listing basis.
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.
Open Listings is focused on making buying a home easier and more affordable in Los Angeles and San Francisco-cities where commutes can be brutal if your office and home are too far apart," said Open Listings CEO Judd Schoenholtz.
Open Listings is also offering free consultation to help employers set up homebuyer assistance benefits.
This approach enables Open Listings to provide their clients with a 50% commission refund (https://www.
The advantage of a centralized listing service, especially one that downloads directly into the subscribing broker's database, is that routine open listings, which take up many listing-agent-hours, are updated instantly and effortlessly, leaving the agent time to develop special relationships with specific landlords, or provide value added services for customers.
The video monitors display apartments that are Coreoran exclusives, while a store computer carries more than 6,000 open listings.