What is a listing contract primarily defined as?

A listing contract is primarily defined as the broker's employment contract. This contract establishes a formal relationship between the seller and the real estate broker, allowing the broker to act on behalf of the seller to market and sell the property. Within this context, the listing contract specifies the terms of the employment, including the broker's duties, the scope of the representation, the duration of the agreement, and the compensation structure, which typically includes the commission rate.

In contrast to other types of agreements, such as those between a buyer and seller or a lease agreement for property management, the listing contract focuses specifically on the relationship and responsibilities of the broker in relation to the seller. Understanding this distinction is crucial, as it emphasizes the broker's role in facilitating the sale rather than merely acting as a negotiator between a buyer and seller.