Definition of 'Open Listing'
A property listing that uses multiple real estate agents in order to sell it and get it off the market. With an open listing, the agent that sells the property collects the commission.
An open listing can also refer to an owner who sells his/her home or property on his/her own without paying a commission to a real estate agent.
Investopedia explains 'Open Listing'
A property that is sold through an open listing either has to be sold quickly or has been on the market for a while and has been difficult to sell. An open listing is commonly referred to as a listing agreement with one or more real estate brokers on a non-exclusive basis. Agents who participate in selling this property are all entitled to a commission.