A type of listing agreement in which more than one real estate agent may be employed to sell the property. Commission is usually paid only to the agent who introduces the buyer and affects the sale.
A type of listing agreement which grants any number of salespeople or brokers the authority to sell the real property at the same time. Open listings give no protection to salespeople soliciting the property and the first one to present a ready, willing and competent buyer will be the only party to receive a commission.
An authorization given by a property owner to a real estate agent who does not have an exclusive right to secure a purchaser and is not owed commission if he or she doesn't sell the property.