Transaction agents generally can't represent either party and must remain neutral. Sometimes, buyers wrongly believe that they can call the listing agent to show a home and that the listing agent will somehow get them a "deal" with the seller, either directly or indirectly. And there are some unscrupulous agents in the industry who would love the prospect of earning a double commission so much that they might do whatever it takes to appease the buyer by violating their fiduciary responsibility.
Most are ethical and won't work that way, however. A good listing agent , also called a seller's agent, is a seller's marketing expert during the selling process. They can help with advertising, networking, and market analysis. Also, they can help the seller know how to make their home more attractive. If it's your first time selling a home or you're looking to get the highest price without the headache of doing everything yourself, consulting with a listing agent is a good idea.
A buyer's agent may never work to sell homes. Instead, they focus wholly on the needs of the buyer. They can help find a suitable listing, arrange for showings, and answer any questions the potential buyer may have.
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Part Of. Getting Ready to Sell. Selling Strategies. Real Estate Agents. The Owner-Seller Option. The Selling Process. Tax Consequences. Definitions A-O. Definitions P-Z. What Is a Listing Agreement? Key Takeaways A listing agreement is a contract between a property owner and a real estate broker that authorizes the broker to represent the seller and find a buyer for the property. The three types of real estate listing agreements are open listing, exclusive agency listing, and exclusive right-to-sell listing.
Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. Property transactions are complicated, so most people choose to use real estate agents to help them navigate the process.
There are two types of real estate agents, so depending upon your personal needs, you may need to secure a selling or listing agent to represent your interests. Contrary to popular opinion, these two types of agents are extremely different and have separate responsibilities, so they are essential for completing a property transaction.
Here is what you need to know to determine if you need a listing agent vs. Listing agents have the following responsibilities:. Most listing agents require sellers to sign exclusive selling agreements. By doing so, the agent secures a commission for his or her brokerage upon closing. The brokerage then shares a portion of the commission with the agent. While a listing agent takes care of selling the property, a selling broker represents the interest of the buyer.
Anyone looking to purchase property would benefit from obtaining a selling agent to help navigate the complex process. This type of real estate agent learns about what buyers are looking for and then help match them with properties. Selling agents perform the following tasks:. Like listing agents, selling agents typically work with a brokerage. When they submit an offer for the buyer that is accepted by the seller, selling agents receive a portion of the commission earned by the listing agent.
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