Question

Broker Alice has a listing agreement with Jack. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. What kind of listing agreement does Alice have with Jack?

Answer 1

Answer:An open listing agreement

Explanation:An open listing agreement occurs when the owner sells his or her property by himself or herself it get written as "for sale by owner". It gives the owner the ability to do open listing with not just one real estate but more. The owner can then pay only the broker who is able to bring back a buyer who has accepted the owner's offer.