The difference between a listing agent and a buyers agent can be confusing to some people. The listing agent works for the person or persons selling a property. The listing agent usually provides the seller with a market analysis of the surrounding area, opinion of listing price and property value and explain in detail all the fees that the seller will be required to pay, including commissions. The listing agent must evaluate all the local homes for sale that are of a similar size and style to the one they will help to sell. This will give the seller and the listing agent an estimate of value and how much a seller should list the house for.
Once the listing agreement is signed, the Listing agent can then prepare the property for showings and place the property on the MLS and major websites with photos and at the agreed upon list price.
A listing agent has the real focus to sell a home and sorts through interested and prospective buyers and arrange to show them around the property and highlight all the good points about living in that particular property. Often the seller is not present while the listing agent shows prospective buyers around properties.
The selling agent/Buyers agent will represent the buyer, who should have an idea of their pre-approved price range, and a wish list like: certain amount of bedrooms and bathrooms, location, amenities, etc. The Buyer's agent can then sift through all the homes currently active on the mls and recommend properties that fit their buyers criteria and price range. The can then show the prospective buyer around the property in the same way the listing agent will do for the seller.
Before you sell your home or start looking for a home to buy, be sure you know the differences of the different types of agents, and choose the one that will represent you and your interest solely.
Comments
Hi Pam - I do not have a reasonable choice as to "which side of the fence" I'm on.
I carry 30-50 listings - real listings, not S/D lots - all rural properties just barely outside city limits in a 500,000 population. 1,700 agents and they are afraid of getting the vehicles dirty so they rarely show my listings. What do I do about it? DUAL AGENT!! Then the lazy agents - so-called 'buyers' agents - will whine and scream about me having both sides on 10 closings so far this year. That's 18 sides.
My response - get off you hinny and get some listings or at least show mine.
Cece, everyone is not sure what side of the fence they want to be on yet and even less know what is expected of an REO agent. so even though the website states REO Professionals, some are just starting out and are looking for any info they can get. besides, if all agents here "are so knowing in all agent process" then what's the point of the site? so, in response to your comment, I think it's dumb that you seem to think you answer for all agents. thanks and have a great day.
Well - my comment got censored so I will tone it down a bit.
A buyers agent is one who waits for the listing agent to hand feed them listings so they will have something to sell.