The terms “real estate listing agent” and “selling agent” can be incredibly confusing if you have never worked with either in the past. Both typically play an important role in the home selling and buying process, and understanding the differences between the two job titles can help you understand who you should consult with and how to refer to each throughout the process.
Real Estate Listing Agent vs. Selling Agent
The following is an overview of the differences between a real estate listing agent and a selling agent to help you understand how the process works. We highlight the role each plays in the home selling and buying process, how hiring a listing agent or selling agent can be beneficial, and how each is compensated upon the closing of the home sale.
Real Estate Listing Agents
A real estate listing agent can help you greatly in your process. Their main goal resides on the side of the seller, and revolves around making the property appealing. Without a real estate listing agent, it would be very difficult to entice buyers and grab their attention. Read on to learn about the specifics of their role.
They Help To Market Property
Real estate listing agents play an important role in helping the home seller market the property. Of course, the alternative to hiring a real estate listing agent is to sell it yourself (for sale by owner). In many instances, this can take much longer for the home to sell, leading to additional months paying the current mortgage, utility payments and the home can become harder to sell the longer it is on the market.
Qualities Of A Real Estate Listing Agent
A real estate listing agent is needed when the homeowner wishes to sell their home fast. Real estate listing agents understand the local real estate market and know how to list the property in the most effective manner. They can work closely with the seller to determine the best listing price, and then go to work on marketing the home to prospective buyers.
Benefits Of Working With One
Home listing agents can essentially take care of the details, making the life of the home seller much easier. The benefits of hiring a real estate listing agent may include:
- Sell your home faster
- Get optimal home value
- Market the home properly
- Make the process easier
- Ensure all details are handled
Their Usual Process
Every real estate listing agent may have a unique process, but it typically involves discussions with the home seller to determine the best course of action. They will discuss how much to initially list the home for, the best way to market the home, and what minor changes can be made to the home to potentially boost the value.
Real estate listing agents are commonly compensated through an exclusive right-to-sell listing. This essentially means the listing agent will receive a commission of the sale. The commission may go directly to the listing agent, or the money may first go to the brokerage that is responsible for paying the listing agent. It offers the listing agent extra motivation as they will only get paid after the home sells, rather than paying for their services upfront.
They will go to work on your behalf by ensuring the home is listed for the most appropriate price for maximum value and a quick sale. They will show the home to prospective buyers, taking a lot of interest in the sale of the home, as they as well as the homeowner will receive compensation.
While most think that selling agents work to the seller’s advantage, they’re actually working for the buyer. While this term may be confusing, they in fact bring the buyer to the sale and ensure they find the best deal So what exactly does a selling agent do?
Help Buyers Find New Properties
The role of the selling agent is oftentimes ambiguous. Many first assume the selling agent works for the seller. However, the selling agent actually works on behalf of the home buyer. Throughout most of the process, they may be referred to as the buying agent. Once the buyer comes to the table for the closing of the sale, they are then referred to as the selling agent as they are responsible for bringing the buyer to the sale.
The Benefits Of Working With A Selling Agent
Buying agents can be beneficial for home buyers as they seek out the best deals that are on the market and handle all of the details (and oftentimes paperwork) for the buyer. It saves the buyer time and ensures all necessary steps are taken during the buying process. In fact, many real estate listing agents are hesitant to work with buyers directly, and they typically recommend buyers use a selling agent to ensure all of the terms and details are understood.
Selling agents are compensated most commonly through a co-op commission. This means they cooperate with the real estate listing agent and receive a part of the total commission in return.
Talk To The Real Estate Listings Experts
If you are interested in selling your home and want to learn more about how a real estate listing agent can help, then get in touch with the Katie Zarpas Group today. We are here to help home sellers through the process, ensuring proper research is done on their home and the local real estate market. We will do all we can to help your home sell fast and for full value. Reach out today by phone at (757) 500-5596 or schedule an appointment online.