This method of sale puts a clear time frame on your campaign and creates a competitive atmosphere on auction day, aimed at achieving the highest possible price for your home. The agent who eventually sells the property earns a commission, and the other agents earn nothing. A significant number of property listings commence this way. Most agents don't like this system, because it often means they do quite a lot of work for no reward, but some vendors believe they are getting the best market coverage this way. The key issue for vendors is to manage the price question.
Agents operating on an open listing are keen to get a sale quickly.
They may push offers more aggressively than when they have an exclusive agency appointment.