A listing agreement is an employment contract that establishes an agency relationship between a property owner (the seller or principal) and a licensed real estate broker (the agent). By signing this agreement, the seller authorizes the broker to market the property, find a buyer, and represent the seller's interests in the transaction. The agreement specifies the terms of this relationship, including the duration, the listing price, the commission to be paid to the broker, and the duties and obligations of each party. It is a legally binding contract solely between the seller and their chosen listing brokerage.

A. The buyer and seller: This describes a sales contract or purchase agreement, which is formed after a buyer's offer is accepted, not a listing agreement.

B. The buyer’s agent and seller: The buyer's agent has a contractual relationship (a buyer representation agreement) with the buyer, not the seller.

D. The seller and lender: The seller's relationship with a lender pertains to any existing mortgage on the property, which is separate from the agreement to market and sell it.

1. Maryland Real Estate Brokers Act, Business Occupations and Professions Article, § 17-505. This section outlines the requirements for brokerage agreements, stating that a licensee who obtains a listing agreement from a seller or landlord must provide them with a copy. This statutory language establishes the parties to the agreement as the property owner (seller/landlord) and the licensee's broker.

2. Code of Maryland Regulations (COMAR) 09.11.02.01(B)(2). This regulation defines a "Brokerage agreement" as a written agreement between a broker and a party to a real estate transaction (e.g., a seller) that establishes a brokerage relationship. This explicitly identifies the broker and the seller as the contracting parties in a listing context.

3. University of Maryland, Colvin Institute of Real Estate Development. Course materials for "Introduction to Real Estate" often define the listing agreement as the foundational contract creating the agency relationship between the property owner (seller) and the real estate broker, empowering the broker to act on the owner's behalf. This is a fundamental principle of real estate brokerage law.