Which listing type lets the seller hire multiple brokers but pays a commission only to the broker who finds a ready, willing, and able buyer?

Study for the Burk Baker National Test. Use flashcards and multiple choice questions with hints and explanations to prepare effectively. Get ready for your exam!

Multiple Choice

Which listing type lets the seller hire multiple brokers but pays a commission only to the broker who finds a ready, willing, and able buyer?

Explanation:
Open listing lets the seller hire multiple brokers and pay the commission only to the broker who brings a ready, willing, and able buyer who closes the deal. The seller can also sell the property themselves without owing a commission. This arrangement rests on procuring cause—the broker earns the commission only if they are the one who actually procures the buyer. If the seller finds the buyer directly, no commission is due. This is different from other listing types, where a single broker is entitled to the commission regardless of who finds the buyer or where the seller’s ability to sell without paying is restricted.

Open listing lets the seller hire multiple brokers and pay the commission only to the broker who brings a ready, willing, and able buyer who closes the deal. The seller can also sell the property themselves without owing a commission. This arrangement rests on procuring cause—the broker earns the commission only if they are the one who actually procures the buyer. If the seller finds the buyer directly, no commission is due. This is different from other listing types, where a single broker is entitled to the commission regardless of who finds the buyer or where the seller’s ability to sell without paying is restricted.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy