What is a "listing agreement" in the context of real estate?

What is a "listing agreement" in the context of real estate?

• A. A contract granting an agent the right to buy property
• B. A legal agreement to lease a property
• C. A contract between a property owner and an agent to market and sell the property
• D. An agreement to manage a property for rental purposes

Answer: (C)

A "listing agreement" in real estate is a contractual arrangement between a property owner and a real estate agent that authorizes the agent to market and sell the property on behalf of the owner. This agreement outlines the specific terms related to the sale of the property, including the listing price, the duration of the agreement, and the obligations of both the owner and the agent. The nature of this agreement is primarily focused on the sale of property rather than on leasing, management, or purchasing rights. By establishing a listing agreement, the owner effectively entrusts the agent with the responsibility of finding potential buyers and facilitating the sale process, which includes marketing the property, conducting showings, and negotiating offers. Other options, such as those involving leases or property management, do not apply to a listing agreement, as they serve different purposes in real estate transactions. Therefore, the definition and functional role of a listing agreement firmly support the choice that identifies it as a contract between a property owner and an agent for marketing and selling the property.

A "listing agreement" in real estate is a contractual arrangement between a property owner and a real estate agent that authorizes the agent to market and sell the property on behalf of the owner. This agreement outlines the specific terms related to the sale of the property, including the listing price, the duration of the agreement, and the obligations of both the owner and the agent.

The nature of this agreement is primarily focused on the sale of property rather than on leasing, management, or purchasing rights. By establishing a listing agreement, the owner effectively entrusts the agent with the responsibility of finding potential buyers and facilitating the sale process, which includes marketing the property, conducting showings, and negotiating offers.

Other options, such as those involving leases or property management, do not apply to a listing agreement, as they serve different purposes in real estate transactions. Therefore, the definition and functional role of a listing agreement firmly support the choice that identifies it as a contract between a property owner and an agent for marketing and selling the property.