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A listing agreement, also known as a real estate listing agreement or a property listing agreement, refers to a legal contract between a property owner (seller) and a real estate agent (broker). This agreement outlines the terms and conditions under which the broker will represent the seller in the sale of their property.

The listing agreement typically includes details such as the property`s location, features, price, and any other relevant information. Additionally, it may specify how the property will be marketed and advertised, as well as the commission that the broker will receive upon the successful sale of the property.

Listing agreements can come in different forms, including open listings, exclusive agency listings, and exclusive right-to-sell listings.

An open listing allows the seller to work with multiple brokers, and only the broker who brings a buyer to the table receives a commission. In this case, the seller is free to sell the property on their own, without having to pay a commission to any broker.

An exclusive agency listing, on the other hand, allows the seller to work with a single broker, but they can still sell the property on their own without paying a commission. However, if the broker is able to find a buyer, they receive a commission.

The most common type of listing agreement is the exclusive right-to-sell listing. This agreement gives the broker the exclusive right to sell the property, and any potential buyer brought to the table by the seller or any other broker is subject to the commission. This type of agreement provides the most protection to the broker, as they are guaranteed a commission if the property is sold during the listing period.

In conclusion, a listing agreement serves as a contractual agreement between a seller and a real estate broker. It outlines the terms and conditions under which the property will be sold and marketed, and it also specifies the commission that the broker will receive upon the successful sale of the property. There are different types of listing agreements, with the exclusive right-to-sell being the most common.