Maine Real Estate Sales Agent Practice Test 2025 – Comprehensive Exam Prep

The term that describes a listing where a seller can use multiple brokers and is not obligated to pay any commission if they sell the property themselves is known as an open listing. In this arrangement, the seller retains the right to market the property independently and avoids any commissions unless a broker brings a buyer who ultimately makes the sale. This setup provides flexibility for the seller, allowing them to explore various marketing avenues without committing to a single broker.

An exclusive agency listing, on the other hand, also allows the seller to sell the property on their own, but they must pay a commission to the broker if the broker brings a buyer. A net listing is specific to when a broker receives any amount over a predetermined price as their commission, which is not relevant in this context. A broker agreement is a more general term that can apply to various types of listings without specifically defining the seller's obligations to pay commission based on their own sales activity. Therefore, the correct understanding of an open listing encompasses the seller’s freedom to seek buyers without incurring costs unless a broker's efforts lead to a sale.