A listing agreement in which the real estate broker's commission is based on the amount by which the selling price of the property exceeds a specified (net) price set by the seller. This type of listing arrangement can be considered unethical or illegal in some states due to the potential for conflicts of interest.
An open listing is a non-exclusive property listing given to multiple real estate brokers. The seller agrees to pay the commission only to the broker who introduces a ready, willing, and able buyer that meets the terms of the listing.
