A legally-binding contract that creates an agency relationship authorizing a broker to serve as the agent for a principal in a real estate transaction. A listing agreement is a contract between homeowners and brokers that legally establishes how a realtor will find a property buyer on the seller's behalf.Firms are using right to list agreements to generate business, but some are getting into legal trouble. We had discussed no FEES verbally in the scenario the house does not sell and we may RENT it before sign up and it seems they sneaked this. A listing agreement can be modified, but only if all parties agree in writing. A safety clause in a listing contract means what? Is a written agreement required, say from a buyer or tenant, to receive a fee? Answer: Broker employment. Signing a Buyers Broker Agreement or BBA.