Which listing type implies a promise to compensate the broker only if they find a buyer?

The open listing is characterized by its non-exclusive nature, which means the property owner retains the right to sell the property themselves or work with multiple brokers simultaneously. In this context, the broker is only entitled to a commission if they successfully bring a buyer who ends up completing the transaction. This creates a scenario where the broker has an incentive to work hard to find a buyer, but they are not guaranteed compensation unless they are the one who closes the deal.

In contrast, an exclusive listing generally requires the owner to pay the broker regardless of who finds the buyer. A net listing would involve the broker receiving any proceeds above a specified net amount to the seller, which can create complications in commission calculation. A combination listing typically blends attributes of both exclusive and open listings, but does not share the same straightforward promise of compensation tied directly to the broker's role in finding a buyer as seen in the open listing.