Before listing a property, what must a real estate agent typically obtain from the owner?

A listing agreement is a crucial document that serves as a formal contract between a real estate agent and the property owner. It outlines the terms under which the agent is authorized to represent the owner in the sale of their property. This agreement not only specifies the listing price and duration of the listing but also includes important details regarding the agent's duties, marketing strategies, and commission structure.

Having this agreement in place is fundamental for legal protection for both the agent and the owner, as it delineates the expectations and responsibilities involved in the transaction. Without a listing agreement, the agent does not have the legal right to represent the owner or take actionable steps toward selling the property.

In contrast, the other options, while relevant to the overall process of real estate transactions, do not serve the same foundational legal purpose. A market analysis report may inform pricing strategies but is not a contractual obligation. A tenant's contract pertains to leasing arrangements rather than selling, and a closing statement is generated at the end of a real estate transaction, summarizing the final financial details of the sale. Thus, obtaining a listing agreement is essential before moving forward with any marketing or sale of the property.