LISTING 1. a written engagement CONTRACT between a principal and an AGENT, authorizing the agent to perform services for the principal involving the latter's property. 2. a record of property for sale by a BROKER who has been authorized by the owner to sell. 3. the property so listed. Example: Abel employs Baker to find a buyer for his home by giving Baker a listing contract. When prospective buyers visit Baker, they will examine the listings in Baker's office. If interested, a prospective buyer may wish to visit the listing.
LISTING BROKER (AGENT) the licensed real estate BROKER (agent) who secures a LISTING of the property. Contrast with SELLING BROKER (AGENT). Example: For most sales, the listing broker and the SELLING BROKER share commissions equally. In some locales, notably for new homes, the listing broker earns only 1%, whereas the SELLING BROKER earns 3% of the selling price.