The major difference between a listing agent and a selling agent is who they represent during residential estate dealings. Listing agents are also referred to as seller’s agents who work with sellers, but selling agents, also called buyers agents, represent buyers. Both of these parties share the commission fee after a deal has gone through, and they work harmoniously to negotiate for better offers and close the deal when a prospective client makes an acceptable offer. It might be confusing if you are inclined to sell your home and wonder whom you should call, but most real estate agents serve in both capacities of a selling agent or a listing agent.
Roles of the listing agent
Most listing agents undertake marketing roles on behalf of the sellers. They oversee most of the steps during selling, including prior arrangements before the home is listed on the market. Their job description is unique to each client’s needs and includes various undertakings.
- They arrange for the home inspection by the relevant parties.
- They should arrange for the professional staging of the home if necessary.
- They oversee all of the house marketing by listing on all relevant sites, such as the multiple listing service (MLS).
- They network with their contacts and other realtors in locating prospective buyers. They might engage other listing agents and selling agents.
- They also coordinate house showings and arrange for professional property photography.
- They receive offers on behalf of the seller and oversee the closing paperwork after the deal is closed. In the same breath, they can negotiate on behalf of the seller while following the seller’s input and advice on the way forward.
- Listing agents create copies of all marketing materials, such as the property listing page.
- They also assist in developing a listing strategy after consulting on the sale process.
Roles of a selling agent
They work closely with buyers to help them locate and make a deal on a good home. They are conveniently called buying agents, which might initially sound confusing, and are only referred to as selling agents once the agreement and contract are signed. As with their counterparts, their roles are also specific to a client’s needs and may vary occasionally, but their duties include;
- Scheduling the property showing and attending with or on behalf of the buyer.
- If the buyer has not finalized on lease pre-approval, they can step in and help with the process.
- They research the best homes available for the buyer that meets the buyer’s interests and specific needs.
- They are responsible for drafting offers and counteroffers on a property.
- When the deal is going down, they help the buyer to navigate the closing process in the buyer’s best interests.
- They assist the buyer with their financing options.
- They brainstorm with buyers to agree on the details and specific needs the buyer has in a home or property they are looking to acquire.
- They also assist their counterparts (listing agents) in arranging for the home inspection.
