"I tell my agents two things when filling out the listing agreement," says Watrous. A listing agreement is a contract between the consumer and the Employing Broker (Entity).What Is a Listing Agreement? A listing agreement is a legal document between a property owner (seller) and a licensed real estate broker. A exclusive listing agreement is a legal contract between a property owner and a real estate agent that gives the agent exclusive rights to sell the property. (iv) Securities prospectuses. (v) Applications for listing of securities on stock exchanges. An open listing agreement is a non-exclusive contract between real estate agents or brokers and the property owner for buying and selling real estate property. STOCK PURCHASE AGREEMENT from PHOENIX FOOTWEAR GROUP INC filed with the Securities and Exchange Commission. Selling property is a major undertaking.