Legal Definitions - nonexclusive listing

A nonexclusive listing is an agreement between a property owner and a real estate agent. The agent agrees to try to find a buyer or tenant for the property at a certain price and terms in return for a fee or commission. Unlike an exclusive listing, a nonexclusive listing allows the owner to work with multiple agents at the same time.

For example, if a homeowner wants to sell their house, they can sign a nonexclusive listing agreement with multiple real estate agents. Each agent will try to find a buyer for the house, and the agent who successfully sells the house will receive a commission.

This type of listing is beneficial for the owner because they have more agents working to sell their property, increasing the chances of a successful sale. It also gives the owner the flexibility to sell the property themselves without paying a commission if they find a buyer on their own.