In real estate, what does an open listing allow a principal to do?

An open listing allows a principal, usually a property owner, to work with multiple agents simultaneously. This type of listing agreement is non-exclusive, meaning that the property owner can list their property with various agents and can also market the property themselves. If the property sells through one of the agents or through the owner's own efforts, then that agent or the owner receives the commission for the sale. This flexibility makes open listings attractive to some sellers who want to cast a wider net to find potential buyers quickly.

The other options describe different arrangements that do not align with the concept of an open listing. Granting exclusive rights to one agent refers to an exclusive listing, where the seller gives a single agent the sole right to market the property. Choosing to work only with a broker is a more restrictive arrangement than an open listing allows, which does not limit the seller to any particular agent or broker. Lastly, limiting the sale to a single buyer would not be feasible under an open listing, as the nature of this agreement encourages broad exposure and potential sales through multiple avenues.