It may be fine to not know the difference
between selling agents and listing agents.
In fact, the majority of the population do not know the difference between these two professionals. However, if you are working in the real estate business or are planning on selling your home, then you should have some idea of the two types of agents.
If you don’t know which is which, then you may be dealing with the incorrect or less efficient agent at a certain time in your sale. This article will provide information on the difference between a selling agent and a listing agent Bella Vista.
What Is A Listing Agent?
A listing agent Bella Vista appears in all sizes and shapes. Typically, the listing agent is a professional that will represent the seller. The majority of transactions completed by listing agents are performed using a specific listing agreement; there are few cases where an agent will accept a flat fee to advertise a property.
In a case where the listing agent does accept a standard fee for listing the home, the professional might complete an ‘open listing’ with the property seller (that’s you!) allowing various other real estate agents to list the house. Of course, this is highly uncommon and rarely seen.
As is mentioned above, the listing agent will represent the seller, but this agent is not the selling agent. The most common type of seller representation occurs when a listing agent has the exclusive ‘right to sell’ listing.
A ‘right to sell’ listing means that only one listing agent is entitled to the sale commission with exclusive agreements made between the listing agent’s brokerage and the seller.
Listing agents believe the listing belongs to the chosen brokerage, but if the agent is not a broker of the company then the listing is not the property of the agent. Basically, listings belong to the brokerage or the broker.
What Is A Selling Agent?
Listing agents can also be referred to as the seller’s agent because they are representatives of the seller (once again, that’s you!). However, the listing agent Bella Vista is not a selling agent!
This means that while the agent works for a seller, they do not work in the capacity of selling agent as well. The majority of the time, in most real estate markets, the listing agent is a seller’s representative with a different agent representing the buyer.
The representative for the buyer is known as the selling agent. It is possible that the selling agent works at the same brokerage as the listing agent Bella Vista, but they could also work at different brokerages.
Typically, the listing broker will “cooperate” with the selling brokerage paying this brokerage for presenting a buyer who submits an offer accepted by the seller.
This is known as a “co-op” commission transaction. If, however, the selling agent works at the same company as the listing agent, the transaction is known as a dual agency.
What If The Listing Agent Is Also The Selling Agent?
It is not common, but there are cases where a listing agent Bella Vista can also operate as a selling agent. This means the listing agent is engaged in the dual representation of their client as a form of dual agency or the legal relationship between the parties may be transactional in their manner.
Transactional agents typically cannot represent either of the parties and need to remain neutral. Some buyers will misinterpret the terms and call a listing agent to show a home.
Unfortunately, some listing agents will enjoy the prospect of a double commission, so they aim to appease the buyer by acting in unethical ways. To keep it simple, remember that the listing agent represents a seller and the selling agent represents the buyer.
18 Sep 2018