Definition of Listing agreement:
An agreement between a property owner and a real estate broker which authorizes the broker to attempt to sell or lease the property at a specified price and terms in return for a commission or other compensation.
A listing agreement authorizes the broker to represent the principal and the principal's property to third parties, including securing and submitting offers for the property. Under the provisions of real estate license laws, only a broker can act as an agent to list, sell or rent another person's real estate, and in most states, listing agreements must be in writing.
A listing agreement is a document in which a property owner contracts with a real estate broker to find a buyer for the owner's property. The owner executes the listing agreement to give a real estate broker the authority to act as the owner's agent in the sale of the owner's property. However, the owner must generally pay a commission to the broker.
How to use Listing agreement in a sentence?
- A listing agreement is between a real estate broker and the property owner to find a buyer of that property.
- There are three types of listing agreements: open listing, exclusive-agency listing, and exclusive-right-to-sell listing.
- Almost all of the listings must include a description of the property.
- Listing Agreements are not limited to real estate.
- If participating in a stock trade, it must be communicated through the major exchange.
Meaning of Listing agreement & Listing agreement Definition