Which of the following best describes a "listing agreement"?

A listing agreement is a contract specifically established between a real estate agent and a property owner, wherein the property owner authorizes the agent to represent them in the sale of their property. This document outlines critical elements such as the listing price, the duration of the agreement, commission fees, and other terms that govern the relationship between the agent and the seller. In essence, it provides the framework for how the property will be marketed and sold.

The focus of a listing agreement is primarily on the seller and their objectives, hence it is not a document aimed directly at detailing the terms between a buyer and seller, which would be more characteristic of other types of agreements or contracts. It also differs fundamentally from a loan application form, which is related to financing rather than real estate transactions. Similarly, it is not a formal offer to purchase a property, as such an offer is typically made by a buyer and involves different terms and considerations than a listing agreement provides.