Open Listing Agreement: A General Guide

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An open listing agreement is a non-exclusive contract between real estate agents or brokers and the property owner for buying and selling real estate property. Also, unlike exclusive listing contracts, an open listing agreement allows the owner to collaborate with numerous agents simultaneously, offering the property for lease or sale in a non-restricted manner. In this blog post, we will explore the benefits of open listing agreements, discuss the important features of drafting such agreements, and provide valuable insights for property owners and real estate professionals.

Features of an Open Listing Agreement

Open listing agreements in the real estate industry have become increasingly popular as an alternative to exclusive listing agreements. Instead of having just one agent representing the seller, open listings allow multiple agents to market the property simultaneously. Below are the key features of an open listing agreement.

Considerations When Drafting an Open Listing Agreement

Drafting an open listing agreement requires careful consideration of various factors to protect both parties' interests. Below are the key considerations involved in drafting an open listing agreement.