Listing Agent vs Selling Agent

Listing Agent vs Selling Agent

Whether you’re in the market for a new home or selling the one you own now, chances are you’ll want a real estate agent to help you navigate the process. If you’re serious about buying or selling a home, it’s a good idea to familiarize yourself with the role each type of agent plays, and the advantages of having one in your corner.

What a Listing Agent Does
In addition to getting a home sold fast and for close to the full asking price, a listing agent also known as the seller’s agent performs tasks for the property owner such as:
• Perform a comparative market analysis (CMA)
A CMA is used to determine the likely selling price, assist the seller in setting a listing price often times leaving a little room for negotiation, and analyze the strengths and weaknesses of the property compared to other similar homes for sale.
• Launch a strategic marketing plan
List the property for sale on the local multiple listing service (MLS), and public websites.
Prepare the property for showings
For a property that’s currently rented, a listing agent will ensure that the tenant’s rights are respected and proper notice is given before showing the property to prospective investors. The listing agent makes sure that the home is always presentable inside and out.

What a Selling Agent Does
A selling agent works exclusively with a buyer, and looks out for the buyer’s best interests. One of the biggest reasons for hiring a selling agent is that you have somebody on your side.
• Selling agents know the market
Provide a deep knowledge of the local marketplace, including historical market performance and potential future demand for the property being purchased. Picking the brain of your selling agent is a key part of the process to help determine if a rental property will be a profitable investment, and why.
• Access the MLS
The MLS is a proprietary database that only members of the National Association of Realtors (NAR) can access.
A licensed selling agent can access the local MLS to compile real-time information about property listings, create a CMA, and obtain contact information for property owners of expired or listings that have gone off of the market to see if the owners are still interested in selling.
• Search for listings not on the MLS
Top producing selling agents also have an extensive network of contacts with the most active listing agents, escrow officers and lenders, property managers, and contractors and appraisers. All of these contacts can be an excellent source for non-public, off-market listings.
• Coordinate property showings
Selling agents work directly with listing agents or owners if the property isn’t listed on the MLS to arrange for showings. A selling agent can act as the eyes and ears of the investor, previewing property, and taking photos and videos to help find the best property.
Understanding the terms when buying or selling a home, will make you more comfortable when dealing with real estate agents.
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