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87% of home buyers used an agent. 90% of home sellers used an agent. There’s a reason that these numbers aren’t identical.
Real estate transactions involve two sides; buying and selling. Agents can specialize in one or the other and become listing or selling agents. Hiring the wrong one is a mistake that can leave you with either a low selling price or a home that doesn’t meet your needs.
Read our comparison guide to learn the distinctions between a listing agent vs. selling agent.
Who They Represent
The primary difference between a listing and a selling agent is who they represent. Listing agents represent the sellers, and selling agents represent the buyers.
They often collaborate and interact during a real estate transaction. It allows them to handle the negotiations for you until both sides agree.
What They Do
A listing or seller’s agent lists the house on the market at a competitive price based on current trends in house sales, such as the prices of recently sold homes in Meaford.
They’ll market the property. It could include hiring professional photographers to take pictures of it and putting them up online on platforms such as MLS and Zillow. They’ll even recommend repairs and improvements to keep the house looking its best.
They’ll hold open houses and show them to any interested buyers. They’ll work through the negotiations, handle the paperwork, and close the sale.
Their other duties include everything involved in house sales. It includes:
- Researching listings
- Arranging appraisals
- Scheduling inspections
- Hosting open houses
- Dealing with negotiations
A selling or buyer’s agent will help buyers find homes that fit their needs. They’ll contact the property’s listing agents who work with them to set up showings to let buyers see them in person. They’ll guide their clients through giving offers until one is accepted. They also handle the process of closing, which can include:
- Filling out paperwork
- Getting financial approval from a bank
- Completing a property inspection
Selling agents are an invaluable asset in a competitive property market. Their help is one of the best ways to win a bidding war.
If you’re only looking to sell your home, a listing agent can help you. If you want to sell your home and buy a new one immediately, look for a selling agent.
Salary and Payment
The average salary of a listing agent is $90,390 per year. The average for all real estate agents is $106,000.
This total salary differs depending on where they work. Higher commissions come to those in higher-income areas with better real estate markets.
Both types don’t always charge the same amounts, either. Selling agents tend to cost more to work with, but their extra effort is worth the additional price.
When they work together, they may even share commission fees. Listing agents who can’t find a buyer for a home on their own keep the commission. The seller pays the entire amount.
Do You Need One?
It is possible to complete the buying or selling of a home on your own. Keep in mind all you’ll lose before you go down that road.
You won’t be able to learn from their expertise. You won’t get their help and must handle time-consuming tasks like staging and marketing yourself.
You may get locked out of the best housing options. Certain listing agents only accept offers from selling agents.
You could also lose money. FSBO or For Sale by Owner properties sell for an average of $22,500, while agent-assisted homes sell for $345,000. That’s a loss of 35%.
What’s a Dual Agent?
A dual agent represents the seller and the buyer in a real estate transaction. They’re like a listing and selling agent rolled into one.
Their work saves time, and they’re helpful in areas with few real estate agents. Working with them allows an offer to go through after an open house.
The issue is that it also opens up conflicts of interest. How can they help a buyer get the lowest price possible, and the seller get the highest price possible at the same time?
Dual agency is so complex and disadvantageous that it’s illegal in eight states, including:
- Alaska
- Colorado
- Florida
- Kansas
- Maryland
- Texas
- Vermont
- Wyoming
Take the time to make sure you’re not unknowingly working with a dual agent. Ensure they focus on your side first and foremost, even if they communicate and negotiate with the other side.
Finding an Agent
Comparing a listing agent vs. selling agent is useful if you want to know which one you need. Once you’ve determined that, the methods of finding the best one for you are the same.
Find out how reputable and experienced they are. Check their certifications and how long they’ve been in the business.
Get referrals and look at for-sale signs in your area. 47% of buyers use an agent recommended to them by friends or family. 27% of sellers are so pleased with their agent that they recommend them four or more times. It should make it easy to go through your network and find the best option for you.
Set up appointments with multiple agents and communicate with them in advance. Look for one that follows up with your questions. They should also always show up on time to answer your questions in a friendly manner.
More Distinctions Between a Listing Agent vs. Selling Agent
There’s an important distinction between a listing agent vs selling agent. The former represents home sellers, and the latter represents home buyers.
Listing agents stage the home and market it to the world. Selling agents help find an ideal home and handle the time-consuming closing process.
Avoid dual agents that claim to provide both services. They’re illegal in several states and have conflicting interests that won’t get you far. Take the time to find a reputable, experienced agent on your side.
Read the rest of our content for more tips on finding your ideal home.
