An open listing is classified as which type of contract?

An open listing is considered a unilateral contract because it involves only one party, typically the seller, who grants permission to multiple real estate agents to find a buyer for their property. In a unilateral contract, one party makes a promise or provides a benefit to another party, but the other party does not make any promises in return.

In the case of an open listing, the seller agrees to pay a commission to whichever agent successfully brings a buyer for the property. It does not require the seller to work exclusively with any one agent, meaning they are not obligated to sell through that agent, thus reinforcing the unilateral nature of the agreement. This distinguishes it from bilateral contracts, where both parties exchange promises and obligations.