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Old 07-30-2007, 09:14 AM
 
189 posts, read 513,281 times
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Default Difference between "Listing Agents" and "Selling Agents" to sell your home

What is the difference between listing agents and sellers agents to sell your home? What is typically the commission for this type of situation? What else would be helpful to know?
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Old 07-30-2007, 09:39 AM
 
Location: Northern, VA
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The difference between a listing agent and a selling agent is that the listing agent represents the seller (he/she holds the listing) and the selling agent represents thw buyer (he/she sells the house).

The advantage in working with a listing agent is that because listings may be his or her focus, they've probably figured out how to market properties and all it takes to get a listing sold. The advantage in working with a selling agent is that they have buyers. One of those buyers may be interested in buying your house.
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Old 07-30-2007, 09:42 AM
 
Location: California
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These days listing agent and selling agents both list and sell too.
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Old 07-30-2007, 10:53 AM
 
Location: California
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There is also a difference in who they market to, and how. There's also a difference in the type of work they do.

The commissions they make often based on the market conditions. In today's market it's harder to sell a house, so often times you will see a higher commission offered to the buyer's agent. This is to try and seduce them into showing your house, over someone else's.

They both look like a lot of work to me. Listing agents I would think tend to spend more money on any given house to promote and sell it. Typically a selling agent will try and get an "Exclusive right to sell" (If I remember correctly from my books), which means they get a commission no matter what if it sells within the set time period.

Selling agents have to spend more time taking their clients to houses, which to me could become very tedious with the wrong clients.

They both used to impress me with how much work they'd have to do even at the height of the market. Now they impress me more because of what they still do in this market. I feel really bad for the agents trying to get their start these days.

Dragonten commented that agents can do both the sale and purchase. This is actually a tactic that I employed when I bought my house. If you as a buyer don't have representation, then the listing agent may acquire you as a client as well. They can then get both commissions. The reason I did this was because I was familiar with how the transaction worked, and I had a goal in mind about price. Agents are still only human, and even though they have a fiduciary duty to all of their clients, they can still be susceptible to dollar signs, just like any of us. I knew offering myself up to the agent for the house I wanted gave me a better chance of having my lowball offer accepted. I ended up getting my house for $50k lower than asking price, and this was when values were climbing like crazy.

As a buyer, do your best to find out why the seller is selling. His agent did him a huge disservice by telling me about his new job, and the deadline for him to close on his condo out of town. I knew at that point his timeline, and I also knew what he paid for the house. He still made $100K in a year, so I didn't feel guilty about getting it under market value. Actually considering where I grew up it made me sick to my stomach to pay as much as I did for the house. Back home I could get 4 times the house on 5 acres overlooking the city for that price...
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Old 07-30-2007, 07:08 PM
 
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Jeff,

We are using an agent that is typically known as a "listing agent". If I had to do it over again I think I would have listed w/a "buyers agent". The reason being is I think our realtor is too busy chasing listings instead of buyers. Our listing expires in approximately 6 weeks and still no buyers. We have had a lot of potential buyers, but I don't think our agent agressively pursued things. Maybe I am wrong, but I feel like I am the one who should be getting the commission at this point.

$50k less for the house you bought is a lot of money! What price range were you in? I could not afford to take that kind of hit.
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Old 07-30-2007, 09:37 PM
 
Location: Virginia Beach, VA
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Pad, a buyers agent is working for the buyer, not listing. when an agent it referred to as a listing agent, they typically do primarily listings, and have a good record of marketing (usually, not always). A good listing agent has a machine set up for marketing the homes. A buyers agent, and one that really primarily works with buyers typically do not have the marketing know how/experience/dollars invested that listing agent does. and may not even take on listings. they know it isn't their forte, so to speak.

I am speaking in very general terms... I hope this helps.
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Old 07-30-2007, 10:07 PM
 
Location: California
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I think what pad is getting at is that agents tend to be specialized towards either selling properties, or buying them. Not generally both. So if an agent is specialized in buying properties, they tend to market to buyers. This means that if you list with someone who generally does buying, they have a pool of buyers already to look at your house.

Now while this appears to be sound logic, consider this. How many buyers do the top buyers agents get each month? Superstars might entertain 10-15 different buyers as their personal client each month. With that in mind, what are the odds that 10-15 people will want your house, over the 1000's available.

Looking at it from that point of view... if you go with someone who specializes in selling a house, they gain access to 1000's of buyers, some who have an agent, some who don't.

I guess it really comes down to what you will think will move the house the fastest. There is a reason why 95% of the public who use an agent to sell, use a listing agent...
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Old 07-30-2007, 10:13 PM
 
Location: Virginia Beach, VA
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A pure listing agent usually has some sort of team around them, and pass of their buyer leads to a buyers agent that works for them. Listings generate leads... and listing agents aren't going to walk away from those. They have buyers agents that work under them and they take a % of the commission.

a listing agent without team will work their buyers as well. They aren't going to walk away from that commission.
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Old 07-31-2007, 09:35 AM
 
Location: California
55,405 posts, read 11,680,631 times
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Let me explain what I meant: Since it's a slow market and there are so many properties out there,It doesn't matter if you are a listing agent or a buyers agent,if there is someone sees a house he likes,the agent will make an offer for that buyer.
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Old 01-29-2014, 09:45 AM
 
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Is the listing agent or selling agent required to tell the new buyer of of past inspections on the house ? Good or bad?
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