Listing Agent vs. Selling Agent: What Are the Differences?

If one thing is becoming more apparent in the murky real estate world, the boom times are coming to a close. As the gloom around the economy continues apace, we’re seeing house sales and price rises across the country slowing down significantly.

If you’re looking to buy or sell a house in the current market, you’ll need all the help you can get. That’s where the listing agent vs. selling agent question comes into play.

Buyers and sellers often use these service providers to help move transactions along and get the best possible price.

But what is the difference between the two? Read on to find out the difference between listing and selling agents.

Listing Agent vs. Selling Agent Explained

So, what is a listing agent? Although the name might seem confusing, a listing agent is responsible for someone who is selling a home.

Meanwhile, a selling agent is responsible for helping someone buying a home. This is a crucial distinction to keep in mind.

In many real estate transactions, the listing agent will be hired by a seller to help them complete the selling process, get the best price for their home, and sell their home on favorable terms. For this, the seller will pay the listing agent a commission fee.

Meanwhile, a selling agent represents the interests of the buyer. They help them from the beginning of the process, often identifying properties within the buyer’s budget and requirements.

They will also negotiate on their behalf during the actual buying process. Likewise, these agents will charge a commission fee for their work.

What Does a Listing Agent Do?

When looking through any listing agent guide, you’ll quickly see that agents advertise what they are willing to do to help you sell your home. This might vary from agent to agent, but their duties typically include:

  • List the property online.
  • Negotiating prices and contingencies.
  • Advertising the property.
  • Scheduling viewings.
  • Handling the closing paperwork.

For this, you can expect to pay your agent a commission averaging 2.69% of the home’s sale price.

What Does a Selling Agent Do?

Likewise, the selling agent will also have several roles and responsibilities. These include:

  • Finding the right properties
  • Securing financing for the buyer
  • Negotiating the final price
  • Handling closing paperwork
  • Arranging inspections

For this, the selling agent will charge a similar commission.

Do I Really Need An Agent?

Remember, the typical real estate commission is around 5% to 6%, split between the listing and selling agent. For this reason, some sellers and buyers will ask if it is necessary to hire one.

After all, sellers can now use an instant, all-cash service to complete a sale in no time, with no commissions whatsoever. You can head here to find out more info about these services and whether they suit you.

Meanwhile, buyers can “go solo” to find their dream home, although the financing and paperwork requirements mean that this will take up a large chunk of time and resources. You need to decide whether the commission fees are worth it to you.

Prepare Your Home for a Speedy Sale

Understanding the differences between the listing agent vs. selling agent can help you make a more informed decision about selling your home.

Whichever path you choose, ensuring that your home is in a suitable condition for a speedy sale is vital. To get the best price for your house, we can help you get there.

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