Which document formally grants a real estate agent the authority to sell property?

The document that formally grants a real estate agent the authority to sell property is the exclusive listing. This is a legally binding agreement between the property owner (the seller) and the real estate agent (or brokerage) that outlines the terms under which the agent will market and sell the property. The exclusive listing explicitly gives the agent the right to represent the seller in the sale of the property, including the authority to negotiate on behalf of the seller and to collect a commission upon the successful sale.

In contrast, a purchase agreement is a contract between a buyer and seller that details the terms of a sale once an agreement is reached, but it does not authorize an agent to act on behalf of the seller. A bill of sale is typically used for the transfer of personal property and is not relevant to real estate transactions. Lastly, a title deed is a legal document that indicates ownership of a property, but it does not grant any authority to an agent to sell that property. Overall, the exclusive listing is essential in establishing the agent's role and responsibilities in the real estate transaction.