What does the term "listing expiration" signify?

"Listing expiration" refers to the conclusion of a listing agreement between a property seller and a real estate agent. This agreement specifies the timeframe during which the agent is authorized to market the property and represent the seller in transactions. Once this time period concludes without the property being sold or the agreement being renewed, the listing officially expires. This term is critical in real estate as it helps both parties understand the timeline of their partnership and sets clear expectations regarding the marketing and sale of the property.

The other options do not relate appropriately to the concept of listing expiration. A rental agreement's end, the scheduling of open houses, and the term of a mortgage contract all pertain to different aspects of real estate transactions that do not involve listing agreements specifically. Understanding listing expiration is essential for real estate professionals to manage their client relationships and maintain effective marketing strategies for properties.