What defines an open listing?

An open listing is characterized as a non-exclusive agreement, which permits multiple real estate agents to attempt to sell the same property. This type of listing allows the property owner to retain the flexibility to work with any number of agents and even sell the property themselves without owing a commission to agents unless they are the ones who actually find a buyer. Because of this non-exclusive nature, open listings often encourage a competitive environment among agents, as they all vie for the opportunity to sell the property.

In contrast, an exclusive listing ties the seller to a single agent, which can help establish a focused marketing strategy but limits the seller's ability to collaborate with others. This makes option C the correct answer as it accurately reflects the defining characteristics of an open listing. The other options pertain to different aspects of real estate that do not relate to the definition of an open listing, such as leasing agreements or auction processes.