What does a "listing agreement" refer to in real estate?

A listing agreement refers to the formal contract established between a seller and a real estate agent, which empowers the agent to market and sell the seller's property. This agreement stipulates the terms under which the agent will operate, including the commission structure and the duration of the listing. It is fundamental in the real estate transaction process, as it not only defines the relationship between the seller and the agent but also outlines the services the agent will provide.

The other choices do not accurately define a listing agreement. A document that lists all properties available for sale refers more to a property listing or multiple listing service (MLS) but lacks the specificity of a contractual agreement. A marketing strategy involves the methods and tactics used to attract buyers, rather than a binding contract. Lastly, an agreement between two sellers for property exchange misrepresents a listing agreement's purpose and the parties involved, as it typically focuses on the seller and an agent rather than two sellers.