An exclusive listing agreement is an example of what kind of contract?

An exclusive listing agreement is classified as an express contract because it is a formal agreement in which the parties involved explicitly agree to the terms and conditions outlined in the contract. In this type of agreement, the details, such as the scope of the listing, duration, and commission structure, are explicitly stated and understood by both parties—often in writing.

Express contracts are characterized by clear, defined terms that leave no ambiguity about the expectations and obligations of each party. This is in contrast to implied contracts, which are formed through the behavior or circumstances of the parties rather than through explicit written or spoken agreement. Additionally, unilateral contracts involve one party making a promise in exchange for an act, while bilateral contracts require mutual promises between two parties. Since an exclusive listing agreement involves mutual understanding and specific promises from both the agent and the property owner, it fits the definition of an express contract perfectly.