Open Listing is an agreement that allows a homeowner to list their property with more than one real estate agent. It is the opposite of an exclusive listing, which is one that is exclusively held by a single real estate agent or agency. Open listings provide a homeowner with the option of letting any agent represent their home to get it sold, giving the homeowner much more exposure to potential buyers.

When a homeowner decides to go with an open listing, they’re giving the real estate agent a right or the exclusive right to earn a commission in the event of a sale. The homeowner still has the right to sell the house without any commissions. The listing agreement allows agents to go out and try to find a qualified buyer and if they do, they’ll earn a commission. This commission could be in the form of a percentage of the final sale price or a flat fee.

With an open listing, the homeowner may end up fielding more offers from agents trying to get their hands on the sale. However, it also makes it easier for the homeowner to decide which agent will be the most successful at selling their home. It is also beneficial for agents, who get more opportunities to make a sale.

An open listing may also be used to draw out potential buyers who have already seen the property but have yet to make an offer. Allowing other agents to have the chance to bring other buyers to the table can ultimately cause one of the initial buyers to make a better offer.

Open listings give homeowners more options when it comes to selling their home but they also add additional competition. Agents may be more likely to put forth extra effort to secure a buyer, as they're competing with other agents. Though there may be more agents involved in an open listing scenario, the goal is still the same; to get the home sold as quickly as possible.