First, what is an open listing?
This is an agreement by which a seller agrees to pay a set commission percentage to any broker who brings him or her an acceptable offer on the property offered for sale.
It does not bind the seller to any one broker or agent, and generally does not have a termination date. Unless the offer to sell is withdrawn, it remains effective until the property is sold.
Open listings are often used by contractors or builders, when a number
of houses in a new development will be for sale. They’re also used
by people who are afraid to list with one broker or agent for fear of
alienating others.
This might be someone with numerous friends in real estate. In a small
town it might be a business owner or manager who fears losing business
over choosing just one agent.
* The only way the agent will earn a commission is to sell the listing himself/herself. Buyer agents rarely show open listings, because nothing in the arrangement guarantees their cooperation will be paid.
* The seller is not obligated to tell any of the participating agents when the property sells, so agents treat the listing as a long shot.
If you want your Pittsburg listing to sell quickly and for top price, an exclusive listing with one accountable agent is usually the better tool: one owner of the marketing, full buyer-agent cooperation, and a name on the result.
If selling is on your horizon, our sell page lays out exactly how we price, prepare, and market a home here, and the home value tool will give you a data-backed starting number in a couple of minutes.
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