The Difference Between a Listing Agent and a Buyer’s Agent
09-29-2021 • MHS Lending
Real estate agents can be an incredibly important asset to any home buying or selling experience. Depending on the state, some realtors are licensed to list homes and assist buyers, but most specialize in doing one or the other. Because of this, you’ll often hear the terms “buyer’s agent” and “listing agent” when people refer to real estate agents. In most real estate transactions, homeowners who want to sell their home will work with a listing agent to do so and potential buyers will work with a buyer’s agent to help them find a home.
At MHS Lending we know that knowledge is power and the more you know going into the home buying experience the more confident you’ll feel. That’s why we put together this helpful guide so you can learn the differences between the two and better understand this real estate jargon.
The role of a buyer’s agent
A buyer’s agent is a real estate agent that represents the potential home buyer throughout their home buying journey. The role of the buyer’s agent is to help the buyer find a home that meets their specific wants and needs. Once that home is found, they can help the buyer determine a fair offer and will assist them in submitting that offer.
Regardless of if the seller counters or accepts, the buyer’s agent will then help their client navigate the process all the way to closing. While you do not technically need a real estate agent to help you buy a home, working with one is an incredibly smart idea so you can gain peace of mind if an expert is on your side.
The role of a listing agent
A listing agent is a real estate agent who represents the seller of the house throughout the real estate transaction. People who are looking to sell their home with the help of a realtor will contact a listing agent who can help them get it ready to be put on the market. Additionally, listing agents will help sellers determine a selling price and will manage the logistics of listing the home as “for sale” on the MLS (Multiple Listing Service).
Finally, listing agents will work directly with the buyer’s agent or buyers who choose not to have an agent throughout the process and will negotiate on behalf of the seller. A listing agent can be a major asset when you’re looking to sell your home, especially if you don’t have experience doing so in the past. So many people see the benefit in doing so that Money.com states that 90% of sellers use a listing agent to sell their home.
How to pick a real estate agent
Whether you’re looking to sell your home or buy a new home, working with a real estate agent can be a game changer. Because there are thousands of real estate agents and endless options when it comes to working with a realtor, there are a few things you can do to help you find the perfect fit. Some people like to read reviews and testimonials while others ask for recommendations from friends and family. Another great way to find a realtor is by asking a loan officer you trust and are planning to work with. Since there are so many steps involved in buying and selling a house, having a team of people who are used to working together can make a world of difference.