What does the term "listing agreement" pertain to?

The term "listing agreement" specifically refers to a contract established between a property owner and a broker, which grants the broker the authority to sell the property on behalf of the owner. This type of agreement outlines the terms and conditions under which the broker will market and attempt to sell the property, including details such as the listing price, duration of the agreement, and the commission structure.

In real estate transactions, listing agreements are essential as they formalize the relationship between the property owner and the broker, ensuring that both parties understand their rights and responsibilities throughout the selling process. By having a listing agreement in place, the broker can effectively start marketing the property and represent the owner in negotiations with potential buyers.

While the other choices pertain to different aspects of real estate transactions—such as rental agreements, purchase contracts, or property management situations—they do not accurately describe the nature of a listing agreement, which is specifically focused on enabling the sale of real property through a professional real estate broker.