What type of listing agreement is commonly referred to as "running of the brokers"?

The commonly referred term "running of the brokers" typically points to an open listing agreement. In an open listing, a property owner can engage multiple brokers to find a buyer for their property. This type of agreement allows for any broker, including the owner themselves, to sell the property and earn a commission if successful. The structure of an open listing means that brokers are competing against each other; therefore, it can lead to multiple representatives trying to sell the same property.

In contrast, other types of listing agreements, like exclusive right to sell or exclusive agency, tend to limit the involvement of brokers to a single agent or brokerage, which doesn't align with the concept of "running" or competing brokers. Net listings, while they do outline a commission structure, do not emphasize the competition between brokers in the same way that an open listing does. Understanding these distinctions clarifies why "running of the brokers" is specifically associated with open listings.