To satisfy the Statute of Frauds, what must a listing agreement be?

A listing agreement must be in written form to satisfy the Statute of Frauds. This legal requirement is designed to prevent fraud and misunderstandings in the sale of real estate by ensuring that significant agreements are documented. The Statute of Frauds applies to any agreement that cannot be performed within one year and to any contract involving the sale of real property.

By requiring written documentation, the law provides a clear record of the terms and conditions agreed upon by the parties involved. Such written agreements should include essential details such as the property description, the duration of the listing, commission rates, and other important stipulations. Having a written listing agreement protects both the seller and the real estate agent and serves as necessary evidence in any potential disputes.

Options like oral agreements do not satisfy these legal requirements because they can be challenging to prove in the case of disagreements. Implied agreements also fall short when it comes to the precise documentation needed for legal enforcement. Notarization, while it can add authenticity to a document, is not a requirement under the Statute of Frauds for listing agreements; what is essential is that the agreement itself is in writing.