Types of Listing Contracts

There are several different types of listing contracts for residential real estate, but very few of them are used. The Exclusive Right of Sale is the most common by far, but there the Open Listing, Exclusive Agency Listing and Limited Services Listing.

Open Listing

The “open listing” is mostly used by people trying to sell their home by owner who are also willing to work with real estate agents. Basically, it gives a real estate agent the right to bring buyers around to view your home. If their client buys your home, the agent earns a commission. There is nothing exclusive about an open listing and a home seller can give out such listings to every agent who comes around.

For that reason, no agent is going to market your home diligently or at least spend any money on advertising it. If your home fits the criteria for one of their clients, and it is convenient, they may be willing to show it to their client. That is all an “Open Listing” is good for.

If you wan the best representation by a Realtor that will have selling your home as a top priority, then use an Exclusive Right of Sale Listing Agreement. There is a reason why the Exclusive Right of Sale Listing Agreement is the most popular and widely accepted listing agreement – it works!