Last Updated on September 18, 2024 by Luke Feldbrugge
The listing agent vs selling agent confusion is caused by the real estate terminology that gets associated with these roles. It’s a tangle, but it’s important to know the difference if you are shopping around for a real estate specialist to help you buy a new home or one to sell your current home. And sometimes, you need both.
Let’s see if we can peel the onion a bit and eliminate the confusion.
Differences Between Listing Agent vs Selling Agent
The main difference between a listing agent vs selling agent is the job you give them. You hire a listing agent to help you sell your current home, while a selling agent works on behalf of the potential buyer looking for a new home.
Here’s where it gets tricky – a listing agent is sometimes called a seller agent, which sort of makes sense. Unfortunately, a selling agent is sometimes called a buyer’s agent, which makes no sense at all. Got that?
In this blog we are going to restrict ourselves to using the terms “listing agent” and “selling agent” (because those are the most commonly used in the real estate market). While both agents are involved in the same real estate transaction, they have different responsibilities and priorities.
Similarities Between Listing Agent vs Selling Agent
When it comes to listing agents vs selling agents, both are licensed real estate professionals and have a deep understanding of their local market. They must also be skilled negotiators and effective communicators to ensure a successful transaction.
If you are looking at how a REALTOR® fits into all of this, we have a blog about that. In short, a REALTOR® is almost the same as a licensed real estate agent but they are trained and certified by the National Association of Realtors.
In most cases, a licensed real estate agent or REALTOR can help you on either side of the transaction.
What a Listing Agent Does
A listing agent is responsible for helping a homeowner sell their residential property. Their primary focus is on marketing the home to prospective buyers.
Additionally, a listing agent is responsible for negotiating the terms of the sale with the home buyer. This includes reviewing offers, negotiating the purchase price, and coordinating any necessary repairs or inspections. You will probably be asked to sign a listing agreement as part of this relationship.
A listing agent has many responsibilities when it comes to working on behalf of the seller. Some of the following tasks a listing agent may take on are:
- Pricing Expert – The listing agent will use their knowledge of the local market and recent sales to help the homeowner determine the best price for their property. They do what’s called a Comparative Market Analysis.
- Marketing Strategist – The listing agent will develop a marketing plan to promote the property to potential buyers. All agents, and particularly listing agents, have exclusive access to the MLS (Multiple Listing Service) and it’s a big deal. If your property is not on the MLS, you are missing out on a large chunk of the market.
- Host – The listing agent will help you show your home during open houses.
- Social Media Promoter – Most listing agents have an extensive knowledge of how to use social media to leverage existing marketing.
- Negotiator – The listing agent will negotiate with potential buyers on behalf of the homeowner to get the best possible sale price.
- Problem Solver – If any issues arise during the transaction process, the listing agent will work to resolve them and keep the transaction on track.
- Communication Liaison – The listing agent will keep the homeowner informed of any offers, feedback, or other important information related to the sale of their property.
- Staging Advisor – The listing agent may provide advice on how to stage the home to make it more appealing to buyers. They may suggest small updates, such as new paint or landscaping, that can help the home sell faster.
Overall, a listing agent plays a critical role in helping a homeowner sell their property. By representing the seller’s interests, they can help ensure a successful transaction that meets the homeowner’s needs and goals.
It’s important to remember all of the background work these agents do.
FACT: In an average property sale, the listing agent spends nine hours working behind the scenes for every one hour they spend working directly with the client.
At Homes for Heroes, our local real estate specialists have committed their business to assisting their local hero community members with their home transactions, and saving them significant money in the process. $3,000 is the average amount saved when you buy or sell a home. $6,000 is the average if you do both!
Simply sign up today and speak with a member of our team. They will determine how we can best serve you and connect you with our local specialist when you’re ready.
What a Selling Agent Does
This is where the confusion begins, because a selling agent is responsible for helping a homebuyer find and buy property. They are also known as a buyer’s agent, which is more accurate, but the industry uses both. Go figure.
The selling agent works on behalf of the buyer’s interests. Then, together with the client, they search for properties that meet those requirements. They may also arrange property showings and help the buyer navigate the financing process.
A selling agent has several important roles when it comes to helping a homebuyer find and purchase a property. Here are some of the key roles a selling agent may take on:
- Needs Assessor – The selling agent will work with the homebuyer to understand their needs and preferences in terms of location, fair price, size, and other key factors.
- Property Finder – Based on the homebuyer’s needs and preferences, the selling agent will search for properties that meet those requirements. They may use their knowledge of the local market and access to local MLS listings to identify suitable properties. As we mentioned before, the MLS is exclusive to real estate professionals and key to finding the best opportunities.
- Tour Guide – The selling agent will arrange property showings and accompany the homebuyer on tours of potential properties. They may point out features and drawbacks of each property to help the homebuyer make an informed decision.
- Negotiator – When the homebuyer has identified a property they are interested in, the selling agent will assist them in making the best offer and negotiating the terms of the sale. They will work to get the best possible price and terms in the real estate contract for the homebuyer.
- Coordinator – Once an offer has been accepted, the selling agent will coordinate with the listing agent, home inspector, lender, and other parties to ensure a smooth transaction. They may also help the homebuyer navigate the financing process.
- Advocate – Throughout the transaction process, the selling agent will advocate for the homebuyer’s interests and help them understand their rights and obligations.
Overall, a selling agent plays a critical role in helping a homebuyer find and purchase the right property. By taking on these different roles, they can help ensure a successful transaction that meets the homebuyer’s needs and goals.
At Homes for Heroes, our local real estate and mortgage specialists have committed their business to assisting their local hero community members with their home transactions and saving them significant money in the process. $3,000 is the average amount saved when you buy or sell a home. $6,000 is the average if you do both!
Simply sign up today and speak with a member of our team. They will determine how we can best serve you and connect you with our local specialist when you’re ready.
Can the Listing Agent and the Selling Agent be the Same Person?
In many cases, you can have the same agent sell your current home and help you buy a new one. When real estate agents get licensed, they are generally approved to do both. There are a couple of questions to ask your agent if you choose to go this way.
- Expert in Both Neighborhoods – That is, the neighborhood where you are selling and the neighborhood where you want to buy? In the case of long distance moves involving two cities, most agents won’t be an expert, and have the connections, in both places.
- Experienced with Managing Buy and Sell Process – Both are complicated so you will want someone with experience on both sides of the equation.
In some cases an agent will specialize in listing your home or in selling it. They will tell you up front.
What is Dual Agency?
A dual agency agreement, or having a dual agent, is another kettle of fish. In these cases, the real estate agent may represent both parties – the buyer and the seller. This is known as dual agency. While it is legal in some states, it’s not in others. It can obviously create a conflict of interest as the agent is working on behalf of both parties (especially when negotiating offers and counteroffers). If you find yourself in a dual agency situation, it’s important to understand your rights and ensure that your interests are being represented fairly. In some cases, a dual agent has a legal responsibility to being a neutral party in the transaction.
How Homes for Heroes Can Help You Sort This Out
When you sign up with Homes for Heroes, we connect you with real estate professionals – both listing agents and selling agents – depending on your needs. And, we will connect you with our local mortgage specialist for financing if needed. At the end of the process, when you have closed, Homes for Heroes sends you a Hero Rewards® check that averages $3,000. It can average $6,000 when you buy and sell homes. It’s our way of saying thank you for your service.
Homes for Heroes is an organization that works to provide discounts and savings to those who serve our communities, including military personnel, veterans, law enforcement officers, firefighters, EMS professionals, healthcare workers, and teachers.
It would be honor to serve your real estate needs and save you some money in the process.
