Broker A and a seller agree to an open listing. Broker B obtains a second open listing from the seller and produces a buyer who is ready, willing, and able to close on the seller's home. Which statement is true of this transaction?

In an open listing scenario, there is no obligation for Broker B to communicate with Broker A regarding the offer. Each broker operates independently, and the seller is not required to involve other brokers unless they choose to do so. Therefore, this statement is incorrect as it implies a requirement that does not exist in open listings.

In an open listing, the commission is not automatically split between brokers. Each broker is entitled to their commission based on the specific buyer they bring to the seller. Since Broker B has produced a buyer, they are entitled to the full commission without having to share it with Broker A, making this statement false.

The seller is not obligated to pay Broker A if Broker A did not procure the buyer. In an open listing, the seller can choose to only compensate the broker who successfully closes the transaction. Since Broker B found the buyer, the seller is only required to pay a commission to Broker B.