If you’ve never purchased or sold real estate before, then the process may seem complicated. That’s why most people turn to real estate agents to guide them through everything. Depending on what you’re looking for, you’ll need to turn to a listing or selling agent.
Before we talk about the differences between the two, know that many people believe that the two types of agents are similar. However, they actually have entirely different responsibilities. So, forget what you think you know about these agents, and let’s talk about them in more detail.
What are Listing Agents?
Listing agents, otherwise called “listing brokers,” take the interest of those looking to sell properties. In other words, if you’re looking to sell one of your properties, you should get in touch with a listing agent.
They should have a perfect understanding of how the real estate market works and will help you market, price, and ultimately sell your property in return for a commission. Listing agents work to maximize your profits and focus on selling your properties as fast as possible. They also carry out the following responsibilities:
- Advertises and prices your properties
- Listing and marketing your properties on listing services
- Negotiates prices, contingencies, and conditions on your behalf
- Scheduling showings
- Helping you with the closing paperwork
What are Selling Agents
Selling agents are not seller’s agents. Selling agents take the interest of those looking to buy properties. So, if you’re looking to buy a property, you should get in touch with a selling agent.
They understand the buying process, so they will guide you through every step while explaining everything in simple terms. Selling agents will keep your interests in mind as they search for properties that may be a match. They take a commission earned by the listing agent of the seller. Here are selling agents’ key responsibilities:
- Finding and showing properties that align with your buying needs
- Helping you secure financing
- Guiding showings
- Helping you with the closing paperwork
Professional Real Estate Agents
How do Listing and Selling Agents Work Together?
Both agents usually work with a brokerage, even though they may work for different real estate firms. They must work together to ensure transactions go smoothly and that all parties are happy to turn a profit.
Both agents act as mediators to ensure that buyers and sellers benefit after the transaction. There are cases where a single agent works with both the buyer and seller in a transaction, which is called a transaction broker. However, real estate firms usually employ both types of agents, so the companies can offer multiple services and help in many ways.
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