A listing agreement may also include documentation relating to the listing of its securities on an exchange such as the New York Stock Exchange (NYSE). The main advantage here is that you have the opportunity to avoid the payment of commissions. This type of agreement is best suited for people who want to be practical in this process and for those who like to invest in their own marketing. These are guidelines on how problems or conflicts are handled. This may include differences of opinion about list price or marketing strategies. An open review agreement is not a formal contract. Instead of using a listing agent, a seller instead allows the local buyer`s agents to market the listing in the hope of receiving the buyer`s 3 percent agent commission. If this type of listing contract is more advantageous for the buyer, there is a potential disadvantage: it can discourage the real estate agent.