What is a "listing agreement" in real estate?

A "listing agreement" in real estate is recognized as a contract between a property owner and a broker that empowers the broker to sell the property. This agreement establishes a formal relationship where the broker agrees to use their expertise to market and negotiate the sale of the property on behalf of the owner. The listing agreement specifies important details, such as the selling price, commission structure, and the general responsibilities of both the property owner and the broker. This mutual agreement is crucial as it provides legal protections and outlines the expectations and rights involved in the sale process.

The other options don't accurately represent a listing agreement. A document that lists all properties available in a market would not qualify as it does not establish a relationship or authority for a broker to represent a seller. Similarly, a type of lease agreement for rental properties is unrelated to selling real estate and focuses on tenants and landlords, while a form used for reporting property taxes is administrative in nature and does not pertain to the selling of property. Therefore, the first option is the only one that correctly defines what a listing agreement is in real estate.