Open listing definition

Open listing means a written listing agreement, which may be given to any number of brokers, with the first broker to secure a buyer under the terms of the listing agreement earning the commission.

Open listing means a contractual agreement under which the Listing Participant acts as the agent of the seller(s), and the seller(s) agrees to pay a commission to the Listing Participant only if the property is sold through the efforts of the Listing Participant.

Open listing means a listing agreement under which a Participant’s commission is contingent on the Participant producing a ready, willing and able buyer before the property is sold by the seller or another broker.

Examples of Open listing in a sentence

• The counter-terrorism tactics instituted by the United States (U.S.) government with the assistance, support or knowledge of numerous countries worldwide, in the aftermath of the 11 September 2001 attacks are well-known.

• Open listing agree-ments provide for any licensed real es- tate broker to provide sales services for any property listed under the terms and conditions of Form RD 1955–42, ‘‘Open Real Property Master Listing Agreement.’’ If this method is used, a newspaper advertisement will be pub- lished at least once yearly, or a notice sent to all real estate brokers in the counties served by the Rural Develop- ment office, informing brokers that sales services are being requested.

• Open listing agreements or nonexclusive buyer agency agreements may be oral if the seller/buyer or landlord/tenant is provided with a written memorandum stating the terms of the agreement.

• There are three basic types of listing agreements: · Open listing · Exclusive agency listing · Exclusive right to sell listing The Open Listing An open listing is an agreement by the seller to pay the managing broker a commission ONLY if the managing broker was the procuring cause of the sale.

• Open listings are not accepted except where required by law because the inherent nature of an Open listing is such as to usually not include the authority to cooperate with and to compensate other brokers and inherently provides a disincentive for cooperation.

More Definitions of Open listing

Open listing means a written listing agreement, which may be given to any number of firms, with the first firm to secure a buyer under the terms of the listing agreement earning the com- mission.

Open listing means any listing for a property in which an Owner has not contracted with an Exclusive Broker either through an exclusive right to sell or exclusive agency listing agreement.

Open listing means a contractual agreement under which the listing dealer acts as the agent of the seller(s), and the seller(s) agrees to pay a commission to the listing dealer only if the property is sold through the efforts of the listing dealer.

Open listing means a contractual agreement under which the Listing Participant acts as the agent of the seller(s), and the seller(s) agrees to pay a commission to the Listing Participant only if the property is sold through the efforts of the Listing Participant.an agreement between a seller and multiple real estate agents, where the seller can give selling rights to more than one agent at a time.

Open listing means a contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller and the seller agrees to pay a commission to the listing broker only if the property is sold through the efforts of the listing broker; if the property is sold through the efforts of the seller or of another real estate broker, the seller is not obligated to pay a commission to the listing broker. (To the extent state law or regulation defines this term and that definition conflicts with this one, the definition in law or regulation shall govern these rules.)

Open listing a listing given to any number of brokers (or owner, who also has the right to rent) without liability to compensate any except the one who first secures a renter who is ready, willing, and able to meet the terms of the listing or secures the owner’s (or agent for the owner) acceptance of another offer. NOTICE: THE AMOUNT OR RATE OF REAL ESTATE COMMISSIONS IS NOT FIXED BY LAW. THEY ARE SET BY EACH BROKER INDIVIDUALLY AND MAY BE NEGOTIABLE BETWEEN THE CLIENT AND AGENT. I, PROPERTY OWNER OR AGENT FOR OWNER, AGREE TO PAY AS COMMISSION, FOR THE RESULTING EFFORTS OF LISTING BROKER, A TOTAL OF TO SECURE THE ABOVE ADDRESS. THIS WILL BE PAID REGARDLESS OF LENGTH OF LEASE. IN THE EVENT A COMMISSION IS NOT PAID WHEN DUE, I AGREE TO PAY ALL COSTS OF COLLECTION, INCLUDING A REASONABLE ATTORNEY’S FEE. I ALSO HAVE BEEN INFORMED OF MY RESPONSIBILITY TO PROVIDE A WORKING SMOKE DETECTOR IN THE ABOVE RENTAL UNIT. LANDLORD/OWNER SIGNATURE DATE BROKER SIGNATURE DATE This agreement is subject to compliance with state and federal statutes which prohibit discriminatory housing practices based on race, creed, color, national origin, ancestry, sex, marital status, age, lawful source of income or familial status. DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS WARNING STATEMENT: Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not taken care of properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, landlords must disclose the presence of known lead-based paint and lead- based paint hazards in the dwelling. Tenants must also receive a federally approved pamphlet on lead poisoning prevention. PROPERTY ADDRESS OF UNIT UNIT NUMBER STREET ADDRESS CITY/TOWN ZIP Was this property constructed prior to 1978? YES NO PROPERTY OWNER’S DISCLOSURE

Open listing means a listing agreement which grants no exclusive rights or priorities to the listing broker, and the agreed commission is payable to the broker only if the listing broker obtains and presents to the owner an enforceable offer from a ready, able, and willing buyer on the terms authorized by the listing agreement, which is accepted by the owner, before the property is otherwise sold either through another broker or by the owner directly and before the listing agreement expires by its terms or is revoked.