Which of the following types of listing agreements is not permitted in Virginia?

In Virginia, net listings are not permitted as they can lead to ethical issues and conflicts of interest between agents and clients. A net listing sets a minimum sale price for the property, and the agent retains any proceeds above that amount as commission. This arrangement may create a situation where the agent has a financial incentive to sell the property for more than the set price, potentially disregarding the seller's best interests. Because of these concerns, many states, including Virginia, have prohibited net listings to protect consumers and ensure transparency in real estate transactions.

In contrast, exclusive right to sell, open listings, and exclusive agency listings are all valid forms of listing agreements in Virginia. Exclusive right to sell agreements guarantee the broker a commission regardless of who sells the property, thus motivating the broker to actively market the property. Open listings allow homeowners to sell their property on their own while simultaneously listing it with multiple brokers, leading to a competitive atmosphere. Exclusive agency listings combine elements of both exclusive right to sell and open listings, permitting the homeowner to find a buyer themselves without owing a commission to the broker if they succeed.