What is an Open Listing in Real Estate?

What is an open listing in real estate? How does an open listing work? Open listing vs exclusive agency: what's the difference? In this video, you will learn everything you want to know about how an open listing agreement in real estate.

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An open listing agreement is one the three types of listing agreements you will see as a real estate agents. This type of listing remains allows the seller to represent themselves while the agent finds buyers for them. Along with this, the seller can choose which buyer's agent to work with.

In other words, an open listing is a non exclusive agreement to sell a home.

So, how does an open listing work? What are the logistics involved to pull it off?

The seller will operate without representation and work with buyer's agents to find the perfect buyer for their home.

There's controversy behind an open listing.

Typically, this is more work on the seller's end. They will have to undergo the responsibilities that come with selling their home without the assistance of a professional who knows what they're doing.

Additionally, they seller is not exclusive with the agent. So, the agent can perform the labor of finding the client without the security of knowing the seller will accept their work. In other words, the seller could choose to work with another agent despite the work already being done.

In regards to whether agents should work within an open listing agreement contract is their own call. Knowing the stakes are higher without the increase in reward is enough to encourage most to opt for an exclusive agency agreement or pass the agreement all together.

Chapters:
00:00 - Introduction
01:38 - What is an Open Listing in Real Estate?
03:34 - How does an Open Listing Work?
05:12 - Should You Accept an Open Listing Agreement?

#OpenListing #OpenListingAgreement #OpenListingRealEstate
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