Who has the ultimate ownership of the listings within a real estate firm?

The ultimate ownership of the listings within a real estate firm resides with the managing broker. This is because the managing broker is responsible for overseeing the business operations and ensuring compliance with state laws and regulations. The managing broker has the authority to make final decisions regarding how listings are handled, advertised, and managed within the firm.

This arrangement allows for a centralized structure where the managing broker can maintain quality control and set policies that align with the firm's overall goals and compliance obligations. While agents may have a direct role in working with clients and managing listings, their activities and the listings are ultimately under the purview of the managing broker, who holds the legal and professional responsibility for the real estate transactions conducted by the firm.