An Explainer: Open Listing

Sellers often seek the assistance of property advisors or property brokers to accomplish the task. While some sellers pick an exclusive broker and entrust in him the job, others find it better to seek the help of several agents or do the job themselves.  The latter kind of property listing is known as an open listing. Those property sellers who go with an exclusive property broker often sign an agreement with the advisors, giving it the sole right to represent their properties. In an open property listing, several agents can represent the property.

For the reason that a seller will quickly find a buyer if he has exclusive rights to represent his property to an expert, they may have to pay more. This exclusive broker would put his best efforts to find you a taker as quickly as possible. 

In an open property listing, several agents can represent the property. For the reason that a seller will quickly find a buyer if he has exclusive rights to represent his property to an expert, they may have to pay more. This exclusive broker would put his best efforts to find you a taker as quickly as possible. In case of an open listing, a seller may not have to pay anything in case he is doing the work independently. He will also pay comparatively less if no broker has an exclusive right to sell his property. However, such sellers may find it difficult to quickly sell their assets in light of the fact that seeking expert advice may not be optional in a market that has immense competition—in case one is going independent. On the other hand, brokers focus more on marketing those properties for which they are the sole representative. This may delay the sale process for a seller.