The Maryland Real Estate Agent Listing Agreement allows a broker to sell a property owner`s real estate for a commission. The agreement covers important details, including the list price, the type of compensation offered to the agent (usually indicated as a percentage of the selling price), the marketing procedures, and the start and expiry date of the contract. It is in the interest of the agent to endeavor to extend the duration of the contract in order to obtain the highest possible selling price. In this way, the seller gets the highest return for his property and offers the broker a higher commission. It is important to understand that if you sign a list contract or a buyer agency contract, you accept two relationships – an agency relationship and a contractual relationship. Note: These definitions are provided to facilitate the categorization of entries in MLS compilations. In any area of conflict or inconsistency, the laws or regulations of the State take precedence. While state law allows brokers to list real estate either exclusively or openly, without establishing an agency relationship, offers cannot be excluded from MLS compositions, as the listing broker is not the seller`s agent. (Adopted on 11.93., amended on 5.06.) So what do you do if you`re a home buyer or seller? Exclusive Agency Listing: A contractual agreement under which the listing broker acts as an agent or as a legally recognized non-agency representative of the seller (the seller) and the seller agrees to pay a commission to the listing broker when the property is sold by the efforts of a real estate agent. If the property is sold exclusively by the efforts of the seller, the seller is not required to pay a commission to the listing broker.