In the United States, almost 90% of homes are sold through real estate agents.
One of the most important decisions you’ll make is who to hire as your real estate agent. Do you go with a listing agent or a selling agent? What’s the difference? And which one is right for you?
In this blog post, we’ll break it down for you and help you decide which type of agent is best for your needs.
Keep reading to learn more about listing agents vs. selling agents!
What Is a Listing Agent?
A listing agent is a real estate professional who helps homeowners list their homes for sale. They will handle all the paperwork and marketing associated with putting your home on the market.
Once your home is listed, they will also help to negotiate with buyers and facilitate the sale of your home.
Moreover, listing agents typically work for a real estate brokerage. This means they can draw on the resources of their brokerage to help you sell your home.
For example, they may have access to a team of marketing professionals who can help get your home in front of potential buyers.
What Does a Listing Agent Do?
The main responsibility of a listing agent is to help you get your home listed and sold as quickly as possible. To do this, they will need to take care of a few things:
Paperwork: A lot of paperwork goes into listing and selling a home. Your listing agent will help you navigate this paperwork and ensure everything is in order.
Marketing: Once your home is listed, your listing agent will help to market your home to potential buyers. This may include creating online listings, hosting open houses, and more.
Negotiations: When an offer comes in on your home, your listing agent will help you to negotiate with the buyer. They will work to get you the best possible price for your home.
Closing: Once a sale is finalized, your listing agent will help to facilitate the closing process. They will make sure that all of the paperwork is in order and that everything goes smoothly.
What Is A Selling Agent?
A selling agent is a real estate professional who helps buyers purchase homes.
They will work with you to find the right home, negotiate with the seller, and facilitate the purchase of your new home.
Moreover, selling agents typically work for a real estate brokerage. This means that they can draw on the resources of their brokerage to help you find and purchase a home.
For example, they may have access to a team of experienced agents who can help you find the right home.
What Does A Selling Agent Do?
The main responsibility of a selling agent is to help you find and purchase the perfect home. To do this, they will need to take care of a few things:
Home Search: Your selling agent will help you to search for homes that fit your needs. They will work with you to find homes in your price range and with the features you’re looking for.
Offer Negotiation: Once you’ve found a home you’re interested in, your selling agent will help you to negotiate an offer with the seller. They will work to get you the best possible price for your new home.
Closing: Once your offer is accepted, your selling agent will help to facilitate the closing process. They will ensure that all the paperwork is in order and that everything goes smoothly.
Move-In: Once you’ve closed on your new home, your selling agent will help you to move in. They will be there to answer any questions you have and ensure everything goes smoothly.
What Selling Agents Can’t Do for You
It’s important to note that listing and selling agents cannot do everything for you. There are some things that you will need to take care of on your own:
Financing: You will need to secure the funding for your home before you can purchase it. This means applying for a mortgage and getting approved. Your agent can help you to find a suitable lender, but they cannot get you approved.
Home Inspection: You will need to have a home inspection done before you purchase a home. This is to ensure that the house is in good condition and that there are no hidden problems. Your agent can help you to find a good inspector, but they cannot inspect the home themselves.
Appraisal: You will need to have an inspection done before you purchase a home. This is to make sure that the home is worth the price you’re paying for it. Your agent can help you to find a good appraiser, but they cannot appraise the home themselves.
Closing Costs: You must pay closing costs when purchasing a home. These are fees associated with purchasing your homes, such as loan origination fees, title insurance, and more. Your agent can help you to estimate these costs, but they cannot pay them for you.
Move-In Costs: You will need to pay for your moving costs when you move into your new home. This includes hiring a moving company, renting a truck, and more. Your agent can help you to estimate these costs, but they cannot pay them for you.
Duel Agents: Can an Agent Do Both?
In some cases, an agent may be able to act as both a listing agent and a selling agent. This is called being a dual agent. Dual agents are real estate professionals who work with both buyers and sellers.
When working with a dual agent, you must be aware of a few things. Without this, you are left to your own devices, and it cannot be obvious when talking to an agent.
Conflicts of Interest: Because dual agents work with buyers and sellers, there is the potential for conflicts of interest. It’s important to make sure that your agent can represent your best interests.
Limited Representation: Dual agents can only provide limited representation to buyers and sellers. This means that they may not be able to negotiate as aggressively on your behalf.
Less Time: Because dual agents work with buyers and sellers, they may have less time to devote to each client. This could mean a longer home-buying or selling process.
Higher Commission: Because dual agents provide services to buyers and sellers, they may charge a higher commission. Ask about their commission structure before you begin working with them.
Do I Need One Or The Other?
The type of agent you need will depend on your situation. Therefore, the question of selling agent vs. listing agent is about your needs. If you’re selling a home, you’ll need to hire a listing agent. If you’re buying a home, you’ll need to hire a selling agent.
In some cases, you may be able to work with a dual agent. However, there are some potential drawbacks to this that you should be aware of.
Furthermore, you may not need an agent at all. If you’re considering selling your home to an iBuyer, you may be able to avoid the hassle (and expense) of working with a real estate agent altogether.
Consider The iBuyer.com Alternative
Now that you know the difference between a listing agent and a selling agent, you are well on your way to making your choice.
If you’re looking for a quick and easy way to sell your home, you may consider working with an iBuyer. iBuyers are companies that will buy your home directly from you.
This can be a great option if you’re looking to sell your home quickly and without any hassle.