Final answer:
An open listing agreement is a contract that allows a broker to receive a commission regardless of who sells the property.
Step-by-step explanation:
A contract providing for the payment of commission to the broker regardless of who sells the property is known as an open listing agreement. In an open listing agreement, the broker is entitled to a commission if anyone, including the owner, successfully sells the property. This type of agreement gives the owner the flexibility to work with multiple brokers and sell the property independently.