A landlord agrees to pay a broker unless someone else finds a tenant first. This is an example of what type of listing?

The scenario presented describes an open listing. In an open listing arrangement, the landlord offers the property for lease and allows multiple brokers to attempt to find a tenant. However, the landlord only pays a commission to the broker who successfully locates a tenant, meaning that if another individual or entity finds a suitable tenant before the brokers do, that individual would not owe a commission to any broker.

This type of listing is distinct from an exclusive right to sell agreement, where a single broker has the sole right to market the property and will be paid regardless of who finds a tenant. It is also different from an exclusive agency agreement, in which one broker has the right to market the property, but the owner retains the ability to find a tenant themselves without owing a commission to the broker if they succeed. A net listing, on the other hand, allows the broker to keep any amount received over a specified minimum as their commission, which is not applicable in this context.

Thus, the agreement described effectively illustrates the nature of open listings, where competition among brokers is a key characteristic.