What are the four major types of listing agreements in real estate?

The four major types of listing agreements in real estate are indeed Open Listing, Exclusive Agency, Exclusive Right to Sell, and Net Listing. Each of these agreements establishes a different relationship and set of expectations between the seller and the real estate agent.

An Open Listing allows the property owner to work with multiple agents, meaning any agent can earn the commission by bringing in a buyer. The seller is not obligated to pay an agent who doesn't find a buyer.

Exclusive Agency agreements provide the agent with some level of exclusivity to market the property, but the seller retains the right to sell the property independently. Should the seller find a buyer without the agent’s help, they would not owe the agent a commission.

Exclusive Right to Sell is the most common type of listing agreement, where the agent has exclusive rights to sell the property. Regardless of who brings in the buyer, the seller must pay the commission to the agent.

Net Listing is less common and can be controversial; it allows the agent to keep any amount earned above a net amount set by the seller. If the property sells for more than this net amount, the agent's commission is based on the increased sale price.

These agreements map out the expectations for both parties, allowing for clarity in the selling process