What does the term "listing agreement" refer to?

The term "listing agreement" specifically refers to a legally binding contract between a property owner and a real estate broker, which authorizes the broker to represent the owner in the sale of their property. This agreement outlines the terms under which the broker will market and sell the property, including the listing price, commission rate, duration of the agreement, and obligations of both parties.

A listing agreement is a vital part of the real estate process as it formalizes the relationship and sets clear expectations on both sides, ensuring that the broker has the legal right to promote the property and negotiate offers on the owner's behalf.

In contrast, a contract for selling a property is a broader term that could encompass various types of agreements, but it doesn't specifically denote the broker-owner relationship. A document for transferring property ownership refers to conveyancing documents like deeds, which are executed after a sale has occurred. Similarly, a disclosure statement for buyers typically shares information about the property’s condition and legal obligations but does not establish a relationship between the owner and a broker.