What Really Are The Differences Between The Listing Agent, Selling Agent, Seller’s Agent?
There are plenty of homes for sale in Kansas City. Unfortunately, a real estate transaction is long, stressful, and complex. You may find yourself at a disadvantage if you are selling your home and do not know much about the real estate market in the area.
Thankfully, there are real estate agents in Kansas City who can help you through the process for a good outcome. They can save you time, reduce your stress, and increase your profit. Real estate agents can have different titles based on their role in a transaction, such as listing agent, selling agent, or seller's agent. Knowing the various titles real estate agents have can help you understand the process.
A few terms describe a real estate agent, and a listing agent is one of those terms. The listing agent represents someone who wants to sell their house throughout the selling process. They have a thorough knowledge of the local and regional real estate market and know the best ways to market a home. They know how to price the home appropriately to attract the most potential buyers, maximize profits, and minimize the time your home spends on the market.
A listing agent signs a contract with a seller under an exclusive right-to-sell listing. This contract gives the agent the right to represent the seller and act as their fiduciary in the transaction. As a fiduciary, the listing agent must act in the home seller's best interest by negotiating the best price for the home.
You may think a selling agent is the same as a listing agent, but it is another term for a buyer's agent. A selling agent helps homebuyers find a home and navigates them through the homebuying process. The difference between a selling agent and a buyer's agent is technical. Before the homebuyer and seller agree to put the seller's home under contract, the agent representing the homebuyer is a buyer's agent. Once the house is under contract, the buyer's agent becomes a selling agent. The selling agent acts in the buyer's best interest and tries to negotiate a lower price for the property.
A seller's agent is another name for a listing agent. A seller's agent works on behalf of a seller and focuses on selling their property. They place the home on multiple listing services and handle inquiries about the property. They also deal with the buyer's agent, negotiate the terms of the sale, and oversee the transaction.
The seller's agent can only represent the seller's best interests unless the agent has a dual agency. A dual agency allows the agent to represent the seller and buyer on the same real estate transaction. However, the agent must be neutral in the transaction, preventing the seller or buyer from getting the best price for the property.
Real estate agents are crucial because they know the market and understand the legal aspect of real estate transactions. Plus, they can help a seller get the most money for their property or help a buyer save money on purchasing a property.
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