The purpose of the Listing Agreement License Language is to have the seller grant to the broker the rights necessary for the broker to use the listing content. What is a Listing Agreement?A listing agreement is a contract between a property owner and a real estate agent who the owner hires to act as their broker. A) The agreement is legal under Illinois law because it contains a reference to a specific time limit. A listing agreement is a contract between a property owner who hires a real estate agent to act as their broker. Click here to learn what to look out for. STEP 1: Fill Out the Security Access Form. Contract forbidding this practice and the previous listing must be in a PEND status. Before listing with a Realtor, consider our alternative. In this video, Charlie Wills goes over the details of a listing contract when selling a home or property.