Which statement is TRUE regarding a listing contract?

The accurate statement regarding a listing contract is that it must include an itemized list of personal property to convey or not convey. This requirement ensures clarity and prevents disputes between the seller and potential buyers about what items are included in the sale of the property. An itemized list delineates personal property, such as appliances, fixtures, or furniture, that the seller intends to include in the transaction, which helps to provide a clear understanding for all parties involved.

In the context of listing contracts, it is important to specify personal property because it can significantly impact the value of the transaction and the buyer's intentions. If the listing does not clarify which items are included or excluded, there might be confusion or disagreements later in the process, potentially leading to legal issues.

Considering the other statements, while a property address is essential, it is not considered a sufficient legal description, as a complete legal description typically includes metes and bounds or parcel identification numbers. The term of the listing being considered boilerplate might refer to standard language used in contracts, but the specifics can vary and are not always considered generic. Lastly, brokerages are not mandated to use the AAR template listing contract; they may create their own contracts as long as they comply with Arizona real estate laws and