Test Prep Resources for the Real Estate License Exam

In real estate, a listing is a contract of employment between a property owner and a real estate broker to sell or lease property. These are the six types of real estate listings: Open Listings 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 open listing allows any broker to sell the property and collect the commission, but all open listing contracts are canceled once the property sells so the owner does not have to pay commission to more than one b...