All listing agreements must have a definite ______ date.

The correct answer is that all listing agreements must have a definite expiration date. An expiration date in a listing agreement is crucial because it specifies the time frame during which the agent has the authority to sell the property. This establishes a clear period for the terms of the agreement, ensuring that both the seller and the agent have a mutual understanding of the commitment involved.

A listing agreement without an expiration date can be problematic, as it may lead to confusion regarding the duration of the agent’s authority and may risk legal issues. By including an expiration date, the seller is protected, and it allows both parties to reassess the arrangement after a specified period, ensuring that continuation or termination of the agreement is done based on mutual agreement and the current market conditions.

While elements like completion and negotiation milestones are important in real estate transactions, they do not specifically define the timeframe during which the listing agreement is valid, making the expiration date a key requirement for all listing agreements.