The Difference Between A Buyer’s Agent & A Listing Agent
(Yes there is a difference!)
If you’re not sure what the difference between a buyer’s agent and a listing agent is, you’re not alone! The different types of agents can be confusing, even to people somewhat familiar with real estate.
So what exactly is a buyer’s agent, a listing agent, and…a selling agent? Hang in there, we’ll get through this!
Let’s start with…
A LISTING AGENT:
A Listing Agent is also referred to as a Seller’s Agent. They help their client, the seller, list their property for the right price and market the property to appeal to more buyers.
Why a Listing Agent is valuable: Listing for the right price is very important. Underpricing a home means you don’t get as much as you could have, while overpricing drives away buyers who otherwise might have made a fair offer. The listing agent sets the price at the sweet-spot level, where you are most likely to make a good profit and sell in a more reasonable amount of time than if you overpriced the property.
Then, the listing agent helps market your property. They will help you make your property look its best and make sure it is seen by as many buyers as possible, starting with posting it on MLS. They also present the home at open houses. Finally, they will negotiate with the buyer’s agent to get you a fair price for your home.
A BUYER’S AGENT:
The Buyer’s Agent helps their client, the buyer, through the process of searching for a home. They talk to their client about their wants and budget, then find properties to tour. When their client is ready to make an offer, the buyer’s agent will help their client come up with an appealing offer to present to the seller’s agent. Then they negotiate the final offer with the seller’s agent.
Why a Buyer’s Agent is valuable: It’s difficult knowing where to start in the home buying search, or the ins and outs of making an offer. A buyer’s agent can find properties that are right for you in your budget, and often know of listings (or upcoming listings) that you might not have found. Then they accompany you on tours of the homes you’re interested in, and look at the properties through a set of professional eyes.
When it comes to making an offer, the buyer’s agent can negotiate based on issues found in home inspections and other factors that might mean you get the house for a better price, and most importantly don’t overpay for it.
Remember: The seller’s agent is aiming to get top dollar for their client, the seller. As a buyer, it’s best you have someone looking out for you!
A SELLING AGENT:
A selling agent is a Buyer’s Agent- after they have entered into a sales contract with the Listing Agent.
...Wait, what? Selling Agent sounds a lot like Seller’s Agent!
Let’s put this into context: The seller has agreed to an offer. Congrats! Now they enter into a contract with the buyer. This successful buyer’s agent has therefore been key in the selling of the property and can now be referred to as the Selling Agent.
Got all that? Hopefully you now see the differences between these real estate agents! If you’re still unsure, give us a call anytime.
To learn out more about finding the right agent for your needs see our tips for How to Pick a Real Estate Agent.
Note: HTML is not translated!