PAR's Buyer Agency Contract includes all of the legallyrequired language and allows for a buyer's broker fee to be structured in several ways. This is a binding agreement for both the broker and the owner.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. The lease term shall be defined as the period between the start and end dates listed in the rental agreement, not including any renewal period(s). Step 3: LISTING CONTRACT​​ In order for us to represent you in the sale of your home we must enter into a written Listing Agreement. By law, the term of a listing contract may not exceed one year. A listing agreement is a legally binding contract between the seller (you) and the real estate brokerage that helps you sell your home. Find out key issues involved with selling a house in Pennsylvania. When do buyers fill out a purchase and sale agreement in Philadelphia? A residential listing agreement is an employment contract between a property owner and a real estate broker.