What must all exclusive listing contracts contain?

An exclusive listing contract must contain a definite termination date to establish a clear timeline for the agreement between the seller and the real estate broker. This date provides both parties with a definitive endpoint for the terms of the contract, ensuring that the seller knows when the broker's exclusive right to market the property will conclude. It also protects the seller from being indefinitely bound to the contract and gives the broker an appropriate timeframe to execute their marketing strategies effectively.

While the other elements mentioned, such as a property appraisal, commission agreement, and marketing plan, might be beneficial to include in the contract or in discussions about the sale, they are not mandated components of an exclusive listing contract. The primary legal requirement is the inclusion of a termination date, as it establishes an essential condition under which the contract can be considered active and enforceable.