Open Listing: A listing given to any number of brokers who can work simultaneously to sell the owners property. The first broker to secure a buyer who is ready, willing and able to purchase at the terms of the listing earns the commission. In the case of a sale, the seller is not obligated to notify any of the brokers that the property has been sold. Unlike an exclusive listing, an open listing need not contain a definite termination date. The listing terminates after a reasonable time, usually whatever is customary in the community. Either party can, in good faith, terminate the agency at will.

 

Related Words

Open Listing: A listing given to any number of brokers who can work simultaneously to sell the owners property. The first broker to secure a buyer who is ready, willing and able to purchase at the terms o . . . View Full Definition

Listing Agreement: A written employment agreement between a property owner and a real estate broker authorizing the broker to find a buyer or a tenant for certain real property. Listing can take the form of op . . . View Full Definition

Open Stance: Hitting the ball with the body facing between parallel to the baseline and facing the opponent; a modern technique.

Open Syllable: Any syllable ending in a vowel, like the word tree.