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legal Definition of listing 1: an arrangement, agreement, or contract for the marketing of real property through one or more real estate agents usually for a specific period â called also listing agreement â
A buyer is considered ready and willing if he makes an offer that meets the seller's stated terms. In the listing agreement, the seller sets forth the terms on which she wants to sell the property: price, closing date, financing arrangements, etc. If a buyer makes an offer that matches those terms, the broker is usually entitled to the commissionâeven if the seller decides not to accept that offer after all.