A listing agreement is a contract between a real estate broker and a seller that gives the broker the right to offer the property for sale. The following are the most common types of listing agreements:

Exclusive Right-to-Sell Listing
Used most frequently, an exclusive right-to-sell listing gives one broker the exclusive right to represent the owner and earn a commission if the property is sold prior to the expiration date of the listing agreement. In exchange for the exclusivity, the broker will invest the time and resources to market the home to consumers and agencies who work with buyers. The owner would also be responsible for paying the selling broker fees if a broker delivers the buyer for the property.

Open Listing
Under this arrangement, the owner sells the home by himself/ herself but is also willing to let brokers bring buyers to see your property. If a broker's client purchases the property, the owner pays a commission fee to that broker.