Question

Patsy’s home has been on the market for five weeks. Currently, two brokers have buyers getting ready to make offers. If Patsy accepts one of those offers, the corresponding broker will be the only one to earn a commission. What type of listing does Patsy have?

Answer 1

Answer:

Open listing

Explanation:

In an open listing, the seller of the house has two or more brokers trying to complete the transaction, and only the broker who manages to sell the property receives a commission.

Patsy has an open listing because 1) she has two brokers competing for selling the house 2) she will only pay a commission to the broker who completes the transaction successfully.