Final answer:
In a listing agreement, necessary details include the specifics of the property and terms of the sale. However, the seller's age is not required, as it does not impact the transaction and could violate privacy laws.
Step-by-step explanation:
When drafting a listing agreement, the focus is on the details that would affect the sale or marketing of the property. This includes information such as the price at which the property will be offered, the duration of the agreement, the commission for the real estate agent, and specific details about the property itself.
Details that are generally considered necessary include the legal description of the property, the dimensions of the lot, any material facts about the property's condition, the inclusion or exclusion of particular fixtures, and information on the most recent property taxes. These elements are pertinent for setting expectations and providing transparency to potential buyers.
However, information such as the age of the seller is not required in a listing agreement as it does not have a direct impact on the transaction of the property. The seller's age is not material to the property's value or desirability, and including such personal information could violate privacy and equal opportunity laws. Conversely, information about the possibility of seller financing may be included if it is an option that could influence the sale, but it is not a mandatory element for the agreement.