Which type of listing agreement allows a seller to list a property with multiple brokers?

Prepare for the Indiana Real Estate Broker Exam. Study with interactive quizzes featuring multiple choice questions, hints, and detailed explanations. Get exam ready today!

The open listing is characterized by the seller's ability to list the property with multiple brokers simultaneously, allowing any of those brokers to earn a commission if they successfully find a buyer. This type of agreement typically does not provide exclusivity to any one broker, meaning the seller retains the right to sell the property independently without owing a commission to any broker. This offers the seller flexibility and control over the marketing of their property.

In contrast, the exclusive agency listing gives one broker the exclusive right to sell the property, although the seller still maintains the ability to sell it themselves. An exclusive right-to-sell listing grants one broker the sole right to sell the property, thereby preventing the seller from selling without paying the broker's commission. A net listing, while less common and ethically questionable in some areas, is a type of agreement where the seller sets a minimum amount they wish to receive from the sale, and any amount over that is the broker's commission.

This differentiation helps in understanding the scope and implications of various listing agreements in real estate practice.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy