In most real estate transactions, there is one agent who represents the seller and another who represents the buyer. Here are the basic differences between the two…
The listing agent is the representative of the seller and has a legal obligation to work on the seller’s behalf. Their job is to get the best possible price and terms for the seller. They assist the seller in setting the listing price. They market the property to maximize exposure. They make sure that material facts regarding the condition of the property are disclosed to all parties. They advise the seller during the negotiating and closing process.
A selling agent’s role is to help buyers find their dream home. They schedule showings, negotiate on the buyer’s behalf and have the responsibility of protecting the buyer’s best interest throughout the transaction.
Typically, the real estate commission paid by the seller is split between the listing agent and the selling agent. it is important to understand that each agent has a fiduciary duty to their buyer or seller.
