Seller tom has an agreement with broker bill, broker jim , and broker joe. whoever brings the buyer will get the commission. Open listing kind of agreement is this .
An open listing is a house that several brokers can promote and sell to make money from the sale of the house. Some examples are If you're prepared to sell your house, you may choose between an open listing or a contract with a single Realtor. Consider the situation when you have to relocate to a different place for employment and need to sell your house in less than a month. You make the decision to put your house for sale publicly. Four realtors are eager to show prospective purchasers your house. After the contract closes, the two Realtors who collaborated to make the sale divide the selling commission.
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