California Real Estate Practice Exam

What type of listing allows Seller A the broadest exposure without paying a commission if she sells the house herself?

1. Open listing

2. Exclusive right to sell listing

3. Exclusive agency listing

4. Net listing

The correct answer is: Open listing

An open listing is a type of listing agreement that allows the seller to work with multiple agents and make use of variety of listing services. It also gives the seller the flexibility to sell the property on their own without having to pay a commission to an agent. On the other hand, exclusive right to sell listing requires the seller to work with only one agent and the agent is entitled to a commission regardless of who sells the property. Exclusive agency listing allows the seller to work with one agent but still have the option to sell the property themselves, however, the agent is still entitled to a commission. Net listing, on the other hand, is an agreement where the agent's commission is based on a percentage of the sale price above a certain amount previously agreed upon by the seller and agent. Therefore, open listing provides the seller with the broadest exposure and gives them the option to sell the property themselves without paying