Different Types Of Listing Agreements

This type of list gives the seller or buyer the right to use any number of brokers as agents. During an open list, all contract brokers can market the property at the same time or search for real estate, but only the broker who brings the finished, consenting and competent buyer to the seller or who finds the desired property for a buyer receives a commission. However, if the client ends up buying or selling a property himself, he does not have to pay a commission to the real estate agent. For this reason, open listings are rare, as they offer the slightest certainty that the broker will receive compensation for their efforts. If a contract expires without mutual renewal or if the parties decide to terminate the contract, the list broker may provide the owner with a list of names of potential buyers.

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