LISTING
listing. 1.Real estate. An agreement between a property owner and an agent, whereby the agent agrees to try to secure a buyer or tenant for a specific property at a certain price and terms in return for a fee or commission. — Also termed listing agreement. [Cases: Brokers 40. C.J.S. Brokers §§ 117–120, 125, 143.]
exclusive-agency listing.A listing providing that one agent has the right to be the only person, other than the owner, to sell the property during a specified period. — Also termed exclusive listing; exclusive-authorization-to-sell listing. [Cases: Brokers 40, 46. C.J.S. Brokers §§ 117–120, 125, 143, 170, 175.] general listing.See open listing.
multiple listing.A listing providing that the agent will allow other agents to try to sell the property. • Under this agreement, the original agent gives the selling agent a percentage of the commission or some other stipulated amount. [Cases: Brokers 40, 66. C.J.S. Brokers §§ 117–120, 125, 135, 141, 143, 185.]
net listing.A listing providing that the agent agrees to sell the owner’s property for a set minimum price, any amount over the minimum being retained by the agent as commission. —
Also termed net sale contract. [Cases: Brokers 40. C.J.S. Brokers §§ 117–120, 125, 143.]
open listing.A listing that allows selling rights to be given to more than one agent at a time, obligates the owner to pay a commission when a specified broker makes a sale, and reserves the owner’s right to personally sell the property without paying a commission. — Also termed nonexclusive listing; general listing; simple listing. [Cases: Brokers 46. C.J.S. Brokers §§ 170, 175.]
2.Securities. The contract between a firm and a stock exchange by which the trading of the firm’s securities on the exchange is handled. See listed security under SECURITY. [Cases: Exchanges 13.10. C.J.S. Exchanges §§ 17–18.] dual listing.The listing of a security on more than one exchange.
3.Tax. The creation of a schedule or inventory of a person’s taxable property; the list of a person’s taxable property. [Cases: Taxation 328, 366. C.J.S. Taxation §§ 483, 535–536, 541, 544.]
[Blacks Law 8th]