Agency
An open listing allows the seller to:
AList with only one broker
BList with multiple brokers, paying a commission only to the one who procures the buyer✓ Correct
CList without any obligation to pay a commission
DList the property on any MLS without a broker
Explanation
An open listing is a non-exclusive arrangement allowing the seller to offer the property through multiple brokers; only the broker who finds the ready, willing, and able buyer earns a commission.
Related New Jersey Agency Questions
- An agent's authority to bind the principal to a contract that was not explicitly granted but is customarily necessary is called:
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- A NJ seller's agent who negotiates an offer and does NOT disclose to the buyer that the home's basement floods during heavy rain has potentially committed:
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