What is a common characteristic of an open listing?

An open listing is distinct in that it allows the seller to engage multiple agents simultaneously to help sell the property. This approach offers flexibility to the seller, as they can maximize their exposure by using various agents who may have different networks and marketing strategies. Essentially, any agent who brings a buyer can earn a commission, which incentivizes agents to work harder in presenting the property to potential buyers.

In contrast, other types of listings, such as exclusive right to sell or exclusive agency listings, typically limit the seller's options to one primary agent or agency, thus locking in a single representative for the property. The concept of a commission being guaranteed applies more to exclusivity agreements, where specific terms are laid out to ensure the agent receives their fee upon the sale of the property, regardless of how the buyer is found. Meanwhile, an open listing does not require a formal signed contract for each listing; instead, it can be more informal, allowing sellers to work with many agents without binding commitments.