Purchasing a home can be a major investment, and you have the chance to make a profit on that investment by selling your home. Selling a house is not as easy as it seems, however. A listing agent can help you market your house, negotiate with potential buyers, complete paperwork, and close the deal if you are ready to sell.

This article will discuss who listing agents are, and what they do differently from buyers agents. This article will explain why you might want to work with one, and how they may help you get a greater return for your investment.

What is a Listing Agent?

A Right Real Estate Listing Agent represents the seller in a property transaction. The seller’s agent (or listing agent) lists the property for sale and negotiates the best price and terms for the seller.

Listing Agent vs. Buyer’s agent

There are two types of agents involved in most real estate transactions: a buyer’s agent and a listing agent. Listing agents assist sellers in preparing their property for sale, staging it, and marketing it. They also help them to show the property off to potential buyers and negotiate offers. The buyer’s agent is there to represent the buyer and help them find their dream home.

What is Dual Agency?

Sometimes, buyers and sellers may use the same agent. Dual agency is a practice that can lead to conflicts of interest. It is illegal in certain states. Agents who work with buyers and sellers should not act in the best interests of any one party. Instead, they should work to move the transaction forward. This can be hard. It’s best to read up on the responsibilities a good real estate agent has to their client, and choose accordingly. 

Selling Agent Vs. Seller’s Agent Vs. Listing Agent.

Sources use the term “selling agents” to refer to a buyer’s agent. A selling agent, however, is a professional in real estate who works on behalf of the seller. A listing agent, seller’s agent, and seller’s agent are all terms that refer to the agent who represents the seller in a real estate transaction.

Benefits of Working with a listing agent

For first-time buyers, in particular, selling a house can be difficult. Listing agents can ease the stress and provide the necessary information to assist sellers in making informed decisions. Let’s take a look at some of the tasks that a listing agent might perform during the selling process.
  • Offer professional consultation: A listing agent will help you prepare for the process by walking through each step and explaining what you can expect.
  • Set a reasonable asking price for your home. This will ensure that it sells quickly and for the best price. If you set a price too high, your home will likely stay on the market for too long. At the same time, you could lose out on greater profits if you set the price too low. To determine the best price for your home, a listing agent will perform a comparative market analysis (CMA). This is based on square footage, age, location, and other features.
  • Marketing and selling your house: Your real estate agent will place your property on the Multiple Listing Service (MLS). This is an online listing service that buyer’s agents use to search for homes to buy. To best showcase your home’s unique features and functionality, your listing agent might make staging recommendations or hire a photographer.
  • Scheduling showings: Once a buyer has found a home that they like, their agent or they will arrange a showing with the listing agent. Open houses are times when potential buyers can visit the property without having to make an appointment. The agent representing the listing may be available during the showing to answer any questions.
  • Negotiate with buyers and agents. Communication is essential when purchasing a home. It will reduce stress and avoid misunderstandings. A potential buyer may not be interested in the property if they don’t receive timely or accurate responses. The listing agent handles this crucial job by staying in touch with potential buyers and their agents, answering questions throughout the entire process, handling paperwork, and negotiating the final sale price.
  • Recommendation of other professionals: Experienced agents might have a list of professionals that they know who can help make the selling process easier. These professionals include inspectors, stagers, real estate lawyers, and specialists in home improvement.

Who Pays a Listing Agent?

Commissions are a common way for real estate agents to make money. A commission is a percentage of the sale proceeds. A real estate commission is typically around 6% of the final sale price unless otherwise stated in the contract. It is split between the listing agent and the buyer’s agent.

The money comes from the proceeds so technically the seller is paying both the listing agent as well as the buyer’s agent. The buyer pays for the proceeds, however. Ask questions and be open to negotiation when determining the pay of your listing agent. Remember that negotiations can only be done between the seller and the listing agent.

How to Find the Right Listing Agent

It is important to ensure that your agent or Realtor is licensed, has references, and has a professional website. This will allow you to learn more about their qualifications and professional achievements. Real estate agents are available to both buyers and sellers. However, some agents may be specialized in one area.

After you have found a few agents via referrals or online search, meet with them personally to make sure they are suited for your professional needs. During an interview, ask the following questions to real estate agents:
  • Do you see this as your full-time job or part-time?
  • What is your experience in the real estate industry?
  • Which type of experience have you had in selling homes?
  • What number of homes have you sold last year?
  • How do you communicate best with yourself? And how long does it usually take for you to reply?
  • What are your typical hours of work?
  • What are your strategies for marketing my house?
  • Why should you be my listing agent?
  • Are there any reviews or recommendations from clients who have used your services before?

Can You Terminate a Contract with a Listing Agent?

When you sign a contract with a listing agent, you’re agreeing to work with them exclusively for at least 90 days. You may consider extending your contract if your listing isn’t getting enough traffic after the 90-day period.

The Disadvantages of Terminating a Contract with Your Listing Agent

You may need to re-seek out an agent and interview potential candidates, which might set your timeline back

Your new agent may need to allow you to give them time to conduct a comparative market analysis on your property and to create a new listing. This will mean that your home will remain on the market for a long time. Potential buyers may be concerned.

Benefits of Terminating a Contract with Your Listing Agent

It could be a good idea to take your property off the marketplace for a while and then relist it. This strategy is used by smart agents to get your listing back on the first page of multiple listing services (MLS). This marketing strategy may not work for everyone and remember that a record of the last time it was on the market will be available.

The Bottom Line

Like other agents in real estate, listing agents are professionals in the field and have the resources, training, and pull to make the home-selling process much easier.

Are you looking for a skilled Realtor to help with your home sale?

McMinnville Real Estate | Doty Team

Established in 1998, the Doty Team from McMinnville Real Estate is a full-service real estate company committed to serving their clients, city, and community by providing a broad range of high-quality services. Dedicated to helping people achieve their dreams of home ownership, all agents excel in customer service and work hard to stay on the cutting edge of the industry’s ever-changing demands.
609 NE Baker St Suite 110, McMinnville, OR 97128
https://mcminvillerealestate.com
(503) 854-7878
TOP AGENTS
Dom Doty
(503) 435-9070
Devri Doty
(503) 435-7165
Mackenzie Kauer
(971) 241-2066