A formal contract between a property owner (seller) and a real estate brokerage that authorizes the brokerage to market the property for sale is commonly known as a listing agreement.
It sets the terms of that relationship, including listing price, commission, and listing period. In Ontario, listing agreements are prepared on OREA-approved forms. Under TRESA (Trust in Real Estate Services Act), brokerages must provide sellers with a written service agreement before any trading services are provided.
Synonyms:
MLS listing agreement|seller representation agreement