Legal Definitions - listing agent

A listing agent is a real estate professional who represents a property owner in the sale of their property. Their primary responsibility is to secure a formal contract, known as a listing agreement, directly with the owner. This agreement grants the agent and their brokerage the authority to market the property and find a buyer on the owner's behalf.

• Example 1: Selling a Family Home
  Sarah decides to sell her family home. She interviews several real estate agents and chooses Michael to represent her. Michael then prepares a detailed listing agreement, outlining the proposed sale price, marketing strategy, and his commission. Once Sarah reviews and signs this agreement, Michael officially becomes the listing agent for her property, authorized to market and sell the house.

  This example illustrates the listing agent's role in obtaining the formal agreement from the property owner (Sarah) to market and sell a residential property.

• Example 2: Marketing a Commercial Building
  A small business owner, Mr. Chen, wants to sell his commercial office building. He contacts a real estate firm specializing in commercial properties. An agent from that firm, Ms. Rodriguez, meets with Mr. Chen, discusses market conditions, and presents a comprehensive plan for selling the building. She then drafts a listing agreement for Mr. Chen's review and signature. Once signed, Ms. Rodriguez acts as the listing agent, responsible for finding a suitable buyer for the commercial property.

  Here, Ms. Rodriguez functions as the listing agent by securing the necessary agreement from Mr. Chen to facilitate the sale of his commercial real estate.

• Example 3: Selling Undeveloped Land
  The Miller family owns a large parcel of undeveloped land they wish to sell. They engage a real estate agent, David, who specializes in land sales. David researches comparable land sales, advises the Millers on pricing, and then prepares a listing agreement that details the terms of sale, marketing efforts, and his compensation. After the Millers sign this agreement, David becomes the listing agent for their vacant land, tasked with finding a buyer.

  This scenario demonstrates the listing agent's role in formalizing the agreement with the property owners (the Millers) to market and sell a specific type of real estate, in this case, undeveloped land.