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By keeping a listing in-house, even for a short while, instead of placing it with the MLS or refusing to work with a cooperating agent, a broker isn't fulfilling the fiduciary responsibility to the seller. This is the most common breach of a listing agreement.
Open listings are the most common type. Under an open listing, the property owner offers a real estate broker a commission, usually a percentage of the sale, if the the property is sold.
An exclusive right to sell listing is the most widely-used listing agreement. Under this agreement, the broker has the exclusive right to market the property for a specified period of time.
The three (3) most common types of Listing Agreements are:Exclusive Right to Sell.Exclusive Agency.Open Listing.
An exclusive right-to-sell listing is the most commonly used contract. With this type of listing agreement, one broker is appointed the sole seller's agent and has exclusive authorization to represent the property.