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FINDLAW LEGAL DICTIONARY

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Listing

listing n

1 : an arrangement, agreement, or contract for the marketing of real property through one or more real estate agents usually for a specific period called also listing agreement

exclusive agency listing
: a listing under which only one agent may sell the property but without the right to a commission if the owner sells it directly NOTE: An agent is usually still entitled to a commission if the owner sells directly to a buyer who was introduced into the process by the agent, even if the sale occurs after the agreement expires.

exclusive right to sell listing
: a listing under which only one agent may sell the property and is entitled to a commission if the owner sells it directly to any party

multiple listing
: an agreement or arrangement under which real property is marketed through a service or association composed of several agents with a commission from the sale of a property shared between the selling agent and the agent that initiates the listing of it

net listing
: a listing under which the agent that sells a property retains as compensation the amount of the selling price that exceeds a specified sum

open listing
: a listing that does not preclude the use of multiple agents or a direct sale by the owner with no commission paid to an agent called also nonexclusive listing
2 a : a record of a property or properties available through a real estate agent
b : a property listed in such a record



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.