Brokerage

Open listing

A non-exclusive listing; only the broker who procures the buyer is paid

Any number of brokerages may work the property and the seller may also sell it themselves. Because effort may go entirely unrewarded, brokerages invest little in these, and sellers usually get correspondingly little marketing.

How the exam asks about it

A unilateral contract: the seller promises to pay if a broker produces a buyer, and no broker promises to try.

Related terms

Exclusive right-to-sell listingExclusive agency listingUnilateral contractProcuring cause

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