Word-Of-The-Day: Open Listing

    An open listing lets an owner sell her home by herself. It is a non-exclusive agreement, meaning the owner may execute open listings with more than one real estate brokerand pay only the broker who brings an able buyer whose offer the owner accepts. The big difference is an owner will probably pay only a selling broker’s commission, which is about one-half of typical fees. The reason is because the owner is unrepresented. Therefore, owners do not pay a broker to represent the owner, but do pay the broker to represent the buyer. However, if the owner finds the buyer herself, the owner will not owe anybody a commission. Open listings are not popular with many full-service real estate brokers.

    Trackback from your site.

    Leave a Reply