Difference Between A Listing Agent & Buyer's Agent

I find that there is a lot of misinformation out there as it pertains to the real estate world. Particularly, one of those things being the difference between a listing agent and a buyer's agent. I find it truly amazing how many people get bad advice from Realtors, (or from their neighbor, take your pick) with all the information at people's fingertips. Nowadays, a service provider has to be well-versed and very knowledgeable about his or her subject. Finding the right team of people is often a difficult thing to do. But, doing your homework to find the right team of people can make all the difference in the world.

The listing agent is the agent who lists a property for sale for a seller. They are actively trying to procure a buyer for your property. They put it up on the MLS and they do many different creative things to try to get people out to your property. The listing agent can tell you all they want, but it is their duty to find a buyer for your home. That is why they come to your house with all these fancy marketing schemes and different tactics to try to get people out to your home. They are the ones responsible for getting people to your home. Now don't get me wrong, most sellers want to overprice their home. We all want to. But it's part of that listing agent's duty to analyze the home properly and explain to the seller why such is the case. If they don't do this properly then they have very little chance of selling the home and bringing that seller a qualified buyer and getting top dollar. This is all part of the listing process. For example, if I had a Ford focus for $10,000 and a Ford focus for $20,000 for sale and they were the same year but I just marketed the heck out of the $20,000 car do you think that people would just end up buying it without doing their homework and not find that $10,000 one? Every marketing scheme in the world will not fool a buyer if prices of houses aren't correct and to market standards.

We truly believe a listing team is a marketing firm that happens to sell real estate. You have to be advanced in selling techniques online and in the digital work in today's climate. We are building and perfecting online selling in the real estate world because it has not caught up with the rest of the business world yet. To be a great listing team you MUST be master marketers, excellent at pricing homes, and expert negotiators. This is the KEY to homes sales and getting top dollar for you sellers.

As for a buyer's agent, they are the agent who handles the buyer side of the transaction and makes sure that they are getting a good deal for their buyers. A good buyer's agent and team is worth their weight in gold. There is a lot more work to be done on the buyer's side of the deal. The plus side of having a great buyer's agent is that you don't pay them anything and they help you get into that beautiful home that you selected and navigate the tricky 30-60 day closing process. The role of the buyer's agent has changed drastically and is vastly different than what your parents and grandparents may have gone through. In the past, you had a listing book and the buyers HAD to come to the buyer's agent for the listings on the MLS. Now, this is done through the computer and an email search which is crafted by the agent and sent out every day that new homes come up that fit the buyer's criteria. You cannot receive this MLS search unless you are working with an agent so it shifts more of the process on to the buyer for finding their own home. Once they do find the homes they like, they then come to the agent and tell them what homes they would like to see. The buyer's agent and their team then schedule times that work for the agent, the buyer, and the seller to see the homes. This may be done with the buyer's agent or it may be done with a showing agent. They are the ones opening the door for you and letting you inside to see the home. Once you have found the perfect place you then let the buyer's agent know and they help you write up the offer and get it submitted and get the offer accepted through their negotiation skills.  The buyer's agent and/or their team then navigate you through the closing process and make sure you close on the home you have selected. The best part about having a buyer's agent is that you don't pay them commission, the seller pays the commission to the agents.

This is a tricky process but one that must be done with agents on either side of the transaction. There are times when a listing agent handles both sides of the transaction which is called dual agency. This doesn't happen very often but it does happen and when it does it can make things a little bit easier, but sometimes it can make them harder as well. Agents have to be adept in order to get the deal done because they cannot tip the hand of one side with what the other side will do. It is a fine line to walk, the agent basically becomes a middleman and messenger at that point.

I hope this gives you a little bit more insight into the listing and buying sides of the world of real estate. If you have any questions contact The Legacy Group and we look forward to answering your questions and helping you out!