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A "net listing" is when someone who wants to sell or lease their property sets a minimum price they're willing to accept. If the property sells for more than that amount, the excess goes to the real estate broker as their commission. Net listings are usually not recommended because they can create a conflict of interest for the broker and may even be illegal in your state.
For example, let's say you want to sell your house and you tell your real estate agent that you won't accept anything less than $500,000. If the agent finds a buyer who is willing to pay $550,000, the agent gets to keep the extra $50,000 as their commission.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
A net listing sets a price minimum,
And the broker's commission is what's comin'.
It can create a conflict, oh no,
And may be illegal, just so you know.