A broker's authority in a real estate transaction is granted through what document?

A broker's authority in a real estate transaction is primarily granted through a listing agreement. This document establishes a formal relationship between the broker and the property owner, outlining the broker's authority to act on behalf of the seller in marketing and selling a property. The listing agreement specifies the roles, responsibilities, and obligations of both the broker and the seller, including details like the commission structure and duration of the agreement.

In contrast, a purchase agreement is used to outline the terms of the sale between the buyer and seller after an offer is accepted but does not grant authority to the broker. A lease agreement pertains to rental properties and tenants and does not relate to the authority of a broker in a sale context. An offer document is typically a proposal made by a buyer to purchase a property, which also does not grant authority to the broker. Therefore, the listing agreement is the correct choice as it explicitly defines the broker's authority in a real estate transaction.