Final answer:
Listing agreements and a buyer's representation agreement are types of legal contracts in real estate dealings, with the former authorizing a broker to sell property and the latter employing a broker to find real estate for a buyer.
Step-by-step explanation:
Listing agreements and a buyer's representation agreement are types of legal contracts used in real estate transactions. A listing agreement is a contract between a property owner and a real estate broker authorizing the broker to represent the seller and find a buyer for the property under specified terms.
Such contracts are pivotal when transacting real estate as they outline the rights and duties of each party. It is crucial for anyone involved in a real estate transaction to comprehend the implications of these agreements and any warranties or service contracts that may accompany a property purchase.