Final answer:
The contract that creates an agency relationship between the seller and broker is the listing agreement, which outlines the broker's responsibilities and compensation for selling the property.
Step-by-step explanation:
The contract that establishes an agency relationship between the seller and the broker is a listing agreement. This contract authorizes the broker to act as the seller's agent and to represent the seller's interests in the sale of the property. The listing agreement outlines the terms under which the broker will work, including duties, obligations, and the compensation the broker will receive if they successfully facilitate the sale of the property.
Other contracts mentioned, such as the buyer representation agreement, purchase contract, and sales contract, serve different purposes. A buyer representation agreement establishes an agency relationship between the buyer and the broker, where the broker represents the buyer's interests. A purchase contract is an agreement between a buyer and seller on the terms of the sale of the property, and a sales contract is generally synonymous with the purchase contract and outlines the transaction's specifics between buyer and seller.
Understanding these different contracts is essential for individuals involved in real estate transactions, as each serves a unique role within the process.