Note: Only a broker is allowed to list, sell or lease a property, according to the real estate license laws. Certain situations might necessitate the termination of a contract, such as the property owner’s death, bankruptcy, or if the agent does not market the property. Moreover, the property owner has the right to terminate the contract if they feel that the agent does not follow the procedures or any other inconveniences. It specifies the duties and responsibilities of the agent as well as the responsibilities of the property owner.Īdditionally, the agreement is more of an employment contract between the property owner and the agent, and there is no property transferred between the two parties. This document can thus be used in the court of law in case of a dispute between the property owner and the agent.Ī real estate listing agreement specifies the terms and conditions for the contract between the property owner and the sales agent. The primary purpose of the agreement is to give authority to the agent to sell the property.

A Real Estate Listing Agreement is an agreement contract between a real estate owner and a sales agent in which the agent agrees to find a buyer for the property at an agreed commission for the sale.

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