Clark clears confusion surrounding new rules with real estate agent commissions for home buyers and sellers. A listing agreement is a legally binding contract between a homeowner and the real estate agent or broker who will be listing the property for sale.Curious how to fill out a listing agreement? This video covers the Tennessee Realtor Form Exclusive Right To Sell Listing Agreement. A listing agreement is a contract between homeowners and brokers that legally establishes how a realtor will find a property buyer on the seller's behalf. The listing agreement requires the seller to pay a commission to the broker if the broker is the procuring cause of a sale during the listing term. What is a Listing Agreement? A listing agreement is a contract between a property owner and a real estate agent who the owner hires to act as their broker. The first thing I would do is contact the listing agent and explain why you want to cancel. It is required to complete and sign a written agreement before showing a home.