What Is a Listing Agent and Is Such an Agent Worth Calling?
Those in the market to purchase a home will probably come across a number of real estate related terms that may prove somewhat confusing to them. This is because real estate - like any and all other professions - is loaded with jargon terms that may prove confusing. One such term is "listing agent" and those that come across advertisements mentioning listing agents may not be completely sure what a listing agent does. This prompts many to assume that listing agent is a "generic" term for a traditional real estate agent. However, a listing agent performs specific responsibilities that need to be clearly understood when dealing with one. Actually, upon discovering what exactly it is that a listing agent does, most people might realize that it is best to avoid dealing with a listing agent at all costs.
So, what exactly is it that a listing agent does? A listing agent is an actual real estate broker or he/she is authorized by a real estate broker to act in a sales capacity. The listing agent will act as the seller's official representative in matters related to the sale of the property. One way the listing agent seeks to achieve this is through managing the listing of the property. This can lead to the buyer working with a listing agent to purchase a property.
The common strategy that a listing agent will employ is to submit a listing into a multiple listing service and they do whatever is necessary to ensure other members of the listing service are aware the ad exists. On the surface, this sounds like a decent plan. Yet, closer inspection of working with a listing agent reveals that is would probably be best for buyer's to look beyond working with a listing agent. Instead, it would be a much better plan to work with buying agent. Simply put, a buying agent can help the buyer move a property in a quicker, more efficient, and more reliable manner.
A buyer agent will have a much stronger fiduciary responsibility to the buyer. When a seller procures the services of a buyer agent the buyer agent will be required to represent the best interests of the buyer. Proper accounting must be maintained and it certainly would not be legal to misrepresent anything to the buyer. In short, a buyer agent is an actual agent. The listing agent, however, is not tied to such rules of proper representation. That alone should raise red flags regarding working with such an agent.
A key point to remain mindful of is the fact that a listing agent almost exclusively represents the interests of a seller. This is fine - for the seller. However, the buyer will probably find it a much better option to look towards working with a buyer agent as opposed to a listing agent. The reason for this is fairly obvious: a buyer agent will represent the best interests of the buyer. And, after all, that is exactly what a buyer should look for in the first place.
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