Clark clears confusion surrounding new rules with real estate agent commissions for home buyers and sellers. A listing agreement is a legally binding contract between a homeowner and the real estate agent or broker who will be listing the property for sale.Talk with either your broker your sales manager or your legal team to ensure that the contracts and disclosures that you're filling out are being done correctly. A residential listing agreement is an contract between a property owner and a real estate broker where the broker lists the property for sale. The listing agreement requires the seller to pay a commission to the broker if the broker is the procuring cause of a sale during the listing term. 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 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. Review the contract and negotiate any fees where applicable. 5.