A "listing" in a real estate transaction refers to a formal agreement between a seller and an agent that authorizes the agent to sell the property on behalf of the seller. This agreement outlines the terms of the sale, including the listing price, the duration of the agreement, and the responsibilities of both the seller and the agent. By entering into a listing agreement, the seller allows the agent to market the property, facilitate showings, and negotiate on their behalf, ultimately aiming to reach a successful sale.
While other options provide related concepts in real estate, they do not define what a listing specifically entails. A home inspection report is crucial in the buying process but not a listing itself. Record-keeping of property tax payments is also important but irrelevant to the definition of a listing. Lastly, a marketing brochure can be a tool to promote a property, but it does not constitute the legal agreement that allows an agent to represent the seller's interests in the sale. Therefore, the correct understanding of a "listing" emphasizes its role as a contractual agreement central to real estate transactions.