What type of listing agreement allows a seller to contract with multiple agents but pay a commission only to the agent who finds a buyer?

The Open Listing is a type of listing agreement that allows the seller to work with multiple real estate agents simultaneously. In this arrangement, the seller agrees to pay a commission only to the agent who successfully brings a buyer to the table. This means that if any one of the agents finds a buyer for the property, only that agent would earn the commission, while no payment is owed to the other agents who may have also been working to find a buyer.

The flexibility of an Open Listing can benefit sellers who prefer to maximize exposure and minimize costs since they are not bound to pay all the agents involved, only the one who closes the sale. This approach can incentivize agents to work harder in finding a buyer, knowing they will get paid if they succeed.

Full Service Listings, Limited Service Listings, and Exclusive Listings provide different levels of service and commitment from agents, often involving obligations for commission regardless of which agent closes the sale, which does not align with the characteristics of an Open Listing.