With an exclusive-authorized offer, a broker is designated as the seller`s sole representative and has the exclusive right to represent the property. The broker receives a commission, regardless of who sells the property, while the listing agreement is in effect. A listing agreement is a document in which an owner enters into contracts with a real estate agent to find a buyer for the owner`s property. The owner executes the listing agreement to give a real estate agent the power to act as a broker when selling the owner`s property. However, the owner usually has to pay a commission to the real estate agent. Since almost all real estate transactions are based on the same considerations, most listing agreements require similar information. These include a description of the property (which should contain lists of all personal property remaining in the property at the time of sale, as well as all devices and devices that are not included), a list price, broker bonds, seller`s bonds, broker compensation, intermediation terms, a termination date for the stock exchange agreement and additional general terms. Death, bankruptcy or madness can and will terminate a listing contract. To trade on large exchanges, companies must enter into listing agreements with the exchanges themselves. They must meet certain criteria. For example, in 2018, the NYSE had a significant listing requirement that included total shareholder capital for the last three years of more than $10 million, a global market capitalization of $200 million and a minimum share price of $4. With an exclusive agency list, the seller employs a broker who acts as the exclusive agent of the real estate owner. The broker only collects a commission if he or she is the cause of the sale.