What is Listing Agreement?
A listing agreement is the contract between a seller and a brokerage that authorizes the agent to market and sell the property and sets the terms, including the listing period and the agreed compensation. An “exclusive right to sell” is the most common type. It defines the working relationship for the sale.
Example: A seller signs a 90-day exclusive-right-to-sell listing agreement, authorizing the brokerage to market the home and earn the agreed commission when it sells.