What type of listing agreement allows a seller to name a desired sale amount while the broker tries to sell above that amount for commission?

The type of listing agreement that allows a seller to specify a desired sale amount, while the broker attempts to sell the property for a price above that amount to earn a commission, is known as a net listing. In this arrangement, the seller receives the specified net amount from the sale, and any proceeds above that net amount become the broker's commission.

This structure incentivizes the broker to negotiate a sale price that exceeds the seller's expectations, benefiting both parties if the property sells for more than the predetermined net amount. Net listings can often motivate brokers to work harder on behalf of the seller to achieve a high sale price.

The other types of listings have different characteristics. An exclusive listing typically grants the broker the sole right to sell the property, ensuring either a commission or compensation if sold during the listing period regardless of how the buyer is found. An open listing means the seller can work with multiple brokers and only pays commission to the broker who actually sells the property. A flat-fee listing involves a broker receiving a fixed amount for their services, independent of the sale price, which does not involve negotiating above a predetermined amount like a net listing does.