What describes an open listing in real estate?

An open listing in real estate is best described as a nonexclusive agreement that allows multiple brokers to sell the property. This means that the property owner retains the right to sell the property on their own without owing a commission to any broker unless the broker directly facilitates the sale. Because multiple brokers can market the property simultaneously, the competition among them can potentially lead to a faster sale. This type of listing provides flexibility for the seller and is often used when they want to maximize exposure without being tied to a single agency for representation.

The other options describe different types of agreements that do not align with the definition of an open listing. A contract giving a single agent exclusive selling rights refers to an exclusive listing, while a listing excluding broker commissions does not fit the definition of an open listing, which typically involves potential commission arrangements. Lastly, an agreement prohibiting self-sales by owners indicates a more restrictive type of contract, which does not align with the open nature of an open listing.