Listing Agent vs. Selling Agent | BidMyListing

Jan 25, 2023 10:00:00 AM / by

Listing Agent vs. Selling Agent: What’s the Difference?

When it comes to selling a house, it's important to understand the role of a real estate agent in the process. While both listing agents and selling agents can help you with the sale or purchase of a home, they have distinct responsibilities and duties. A Listing Agent is best for selling houses in the current market and telling sellers about their options for pricing and marketing homes online. However, if your goal is to find and buy a property, it's best to work with a selling agent. In this blog, we'll explore the main differences between listing agent vs selling agent, so that you can make an informed decision when choosing the right professional to help you navigate the real estate market.

What is a Listing Agent?

A listing agent is a real estate professional representing sellers when they want to sell their homes. A listing agent's main role is to get the property listed on various websites and services that sellers can use to advertise their property and find interested buyers. To do this, agents will have an understanding of each individual service platform, as well as their requirements for content.

A listing agent has several key responsibilities when it comes to helping a seller sell their home. These include:

Pricing The Home

The listing agent conducts a thorough analysis of the local housing market to determine the best price for the seller's home. They consider factors such as the location, size, condition, and features of the home, as well as recent sales of similar properties in the area. By pricing the home correctly, the listing agent can help the seller maximize their profits and increase their chances of finding a buyer quickly.

Listing The Home

The listing agent creates a detailed listing of the seller's home, including information about its features and amenities. They also take high-quality photos and videos of the property to showcase it in the best light. The listing is then posted on various platforms to help it reach the widest possible audience.

Scheduling, Promoting, and Managing Home Showings

A listing agent takes the initiative to schedule showings for interested buyers. They also manage each showing and follow up with potential buyers to keep them interested in the property. By keeping the deal moving and managing buyer interest, they can help sellers find the right buyer as quickly as possible.

Negotiating With Potential Buyers

The listing agent handles all negotiations on the seller's behalf. They work to ensure that the seller gets the best deal possible for their home and will help them navigate any contingencies, such as inspections and home appraisals. They also work to ensure that all conditions are met before closing.

Assisting With Closing Paperwork

Once the transaction is complete, the listing agent helps the seller sign all necessary documents at closing. They'll also be involved in any cleanup or repairs that may need to be done.

Providing Access to Their Expertise and Knowledge of The Local Housing Market

The listing agent provides the seller with valuable insights and advice on how to sell their home quickly and for the best price. They also keep the seller informed of any changes in the market and work with them to ensure that their home is marketed effectively to potential buyers.

How is a Listing Agent Compensated?

A listing agent is typically compensated through a commission on the sale of the property. The commission is a percentage of the home's sale price, typically around 2.3%. The homeowner who is selling their home pays this commission to the brokerage, which is then divided between the brokerage and the listing agent. The commission is only paid when the sale is closed, and all the paperwork is signed. Some listing agents may charge a flat fee instead of a commission, which is a fixed amount of money for their services, regardless of the home's sale price.

What is a Selling Agent?

A selling agent represents a buyer when they want to buy a home. A selling agent's main role is to find the right home for their buyer by actively searching the local market and setting up showings of available properties that match their client's criteria. Using a selling agent can save you time and hassle, as you'll have one professional to handle the entire process of buying a home from start to finish.

A selling agent has several key responsibilities when it comes to helping a buyer buy a house. These include:

Finding Potential Properties and Showing Them to Buyers

A selling agent will set up appointments for their buyer to see available properties. They'll help the buyer narrow down their options and find homes that they'll actually want to buy.

Making Sure Buyers are Paying a Fair Price For The Home

A selling agent will negotiate the best price possible for their buyer during the negotiation process. They'll also work with buyers to ensure that they're sticking to their price point and meeting any other conditions of the sale.

Putting in an Offer on a House

Once the buyer has found a property they like, the selling agent will make an offer on their behalf. If the seller counters their offer, the agent will help their buyer revise it based on what the seller is demanding.

Negotiating With The Seller and The Listing Agent

A selling agent will work with the seller to ensure that all conditions are met before closing. After this, they'll negotiate with the listing agent on behalf of their buyer, who will be responsible for paying any additional costs that may come up during the process.

Coordinating Appraisals and Inspections

A selling agent will work with their buyer to get all the information they need from the listing agent and any other professionals involved in the sale. They'll also work with buyers to ensure that all conditions are met and that any necessary inspections or appraisals are taken care of before closing.

Helping Buyers Find Financing

A selling agent will work with buyers to find the right financing. They'll also help with the application and approval process for any mortgages or home loans.

Assisting With Closing Paperwork

After the sale is complete, a selling agent will help their buyer sign all necessary documents at closing. They'll also be involved in any cleanup or repairs that may need to be done.

How is a Selling Agent Compensated?

A selling agent, also known as a buyer's agent, is typically compensated through a commission on the sale of the property. However, homebuyers do not need to worry about paying anything for their services as the listing agent's brokerage pays the selling agent's fee once the home sale has closed. This means that buyers do not have to foot any of the bills. This is an advantage for buyers because it means they can access a selling agent's expertise and knowledge without having to pay for it themselves.

Can an Agent Take on Both Roles?

Yes, a real estate agent can work as both a listing agent and a selling agent, but they don't take on both roles for the same property. This is because a selling broker vs listing broker have distinct responsibilities and duties, and it would be difficult for one agent to manage both roles for the same property effectively.

When a real estate agent takes on both roles, it is known as a dual agency. The agent must disclose their dual agency status to both parties and get written consent before proceeding. However, it is important to note that it is considered a conflict of interest for the agent to represent both the buyer and the seller in a transaction. It is also important that the agent disclose their dual agency status to both parties and get written consent before proceeding. Read more on dual agency here.

In conclusion, when it comes to buying or selling a home, it's important to understand the agent's role. By understanding the selling agent vs listing agent's role, you will be able to find the right real estate agent who can help you navigate the process. Get started and find the right agent for you with BidMyListing, a platform that lets agents bid to be the one to sell your home. Compare your bids, rates, commission and more to ensure you’re getting what you want. Pick the perfect match, and you’ve got a top of the line real estate agent without so much as leaving your home. Let the agents come to you and be paid upfront to sell your listing! 

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