What type of listing does a homeowner create by advertising her home for sale and offering to compensate a broker for bringing a buyer?

The situation described in the question refers to an open unilateral listing. In this type of listing, the homeowner retains the right to sell the property themselves while also offering a commission to any broker who brings a qualified buyer. This creates a flexible arrangement, allowing the homeowner to work independently while still incentivizing brokers to participate in the sale.

Open unilateral listings are not as common as exclusive listings because they do not provide brokers with the assurance of exclusivity or guaranteed compensation if they succeed in selling the property. This can lead to a more competitive environment among brokers since multiple agents may be working on the same property, but it also allows homeowners the freedom to market their property independently.

An exclusive listing, on the other hand, gives one broker the sole right to sell the property, typically offering them more security in their efforts. An exclusive agency listing falls somewhere between the two, where the homeowner also reserves the right to sell independently but only pays a commission to the broker if they are the one who brings a buyer. Multiple listings usually refer to properties listed within a Multiple Listing Service (MLS) that provide broader exposure to potential buyers and brokers, which does not reflect the nature of a unilateral listing.