What is the name of the contract between a seller and a broker to market property?

What is the name of the contract between a seller and a broker to market property?

• A. Listing Agreement
• B. Marketing Contract
• C. Broker Agreement
• D. Sales Contract

Answer: (A)

The contract between a seller and a broker specifically intended to market the property is known as a listing agreement. This document outlines the terms under which the broker agrees to represent the seller in selling the property. It typically includes details such as the listing price, the duration of the agreement, and the responsibilities of both parties. The listing agreement establishes a formal relationship, giving the broker the authority to market the property and to negotiate on behalf of the seller. This is a fundamental aspect of real estate transactions, as it formalizes the duties and obligations, ensuring that the seller is adequately represented in the market. Other options do not specifically refer to this type of arrangement, as a marketing contract can refer to broader promotional activities, a broker agreement may not be solely focused on property sales, and a sales contract pertains to the agreement for the sale of the property itself rather than its marketing.

The contract between a seller and a broker specifically intended to market the property is known as a listing agreement. This document outlines the terms under which the broker agrees to represent the seller in selling the property. It typically includes details such as the listing price, the duration of the agreement, and the responsibilities of both parties. The listing agreement establishes a formal relationship, giving the broker the authority to market the property and to negotiate on behalf of the seller. This is a fundamental aspect of real estate transactions, as it formalizes the duties and obligations, ensuring that the seller is adequately represented in the market. Other options do not specifically refer to this type of arrangement, as a marketing contract can refer to broader promotional activities, a broker agreement may not be solely focused on property sales, and a sales contract pertains to the agreement for the sale of the property itself rather than its marketing.