|Types of Listings
There are several different types of listing
contracts, but very few of them are used. The "Exclusive Right
to Sell" is the most common, but there is the "open listing,"
the "exclusive agency listing," and the "one-time show."
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 who accepts an open listing is going
to market your home or put it in the Multiple Listing Service.
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.
A "one-time show" is similar to an open listing in many
respects, as it is most often used by real estate agents who are
showing a FSBO (for sale by owner) to one of their clients. The
home seller signs the agreement, which identifies the potential
buyer and guarantees the agent a commission should that buyer
purchase the home. This prevents the buyer and seller from
negotiating directly later and trying to avoid paying the
As with an open listing, agents will not be spending money on
marketing your home and it will not be placed in the Multiple