Open Listing
Definition
- A property that multiple brokers can market and compete to sell for a commission.
Synonyms
unrestricted listing, listed by many brokers, multiple agent listing
Related Terms and Acronyms
- Days on Market (DOM) — Acronym, Very Important,
- The period between listing and sale, or listing and a property being taken off the market.
- Exclusive Listing — Definition,
- A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
- Listing Inventories — Definition,
- The dwellings for sale in a given market.
- Multiple Listing Service (MLS) — Acronym, Canada, Very Important,
- A database that lists all properties in an area that are for sale or lease by Realtors.
- Open House (OH) — Acronym,
- A selling tool in which a real-estate agent advertises a property for sale and invites people to visit without making an appointment.
- Real Estate Broker — Definition,
- An individual who is licensed to represent a buyer or a seller of real estate and collects commissions for the work. Most brokers have agents working for them and they collect a portion of those commissions in exchange for providing office space, marketing, and other overhead.
- Seller Broker — Definition,
- One who earns a commission from the seller of a property in exchange for finding a buyer and assisting in negotiation.
- Subagent — Definition,
- A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.
