Which document outlines the responsibilities of a real estate agent?

The listing agreement is a crucial document in the real estate process that outlines the responsibilities of a real estate agent. It serves as a contract between the property owner and the agent, specifying the terms under which the agent will market and sell the property.

This document details the obligations of the real estate agent, including the duties to actively market the property, conduct showings, provide regular updates to the seller, and negotiate on behalf of the seller. Additionally, it often includes the commission structure that the agent will receive upon the successful sale of the property. By clearly establishing these responsibilities, the listing agreement creates a framework for the agent's actions and the expectations of the property owner.

In contrast, the other documents mentioned serve different purposes. A title policy protects against title defects, ensuring the buyer is receiving clear ownership, while a closing statement outlines the financials involved in a real estate transaction, detailing the costs and fees at closing. A purchase agreement, on the other hand, is a contract between a buyer and seller for the sale of property, specifying the terms and conditions of the sale but not outlining the responsibilities of an agent as the listing agreement does.