Listing VS Selling
Do you know the difference between a listing agent and a selling agent? Most people do not, and that is certainly understandable. Almost all real estate agents have acted as both a listing agent and selling agent at various times, and the terminology itself can be misleading. Today we’re gonna take a stab at clearing it up once and for all so you can better understand the real estate market.
Listing Agents and Selling Agents
It’s one of our biggest pet peeves about real estate, and one of the most googled quandaries in the industry. The terms “listing agent” and “selling agent” do NOT mean the same thing. A listing agent represents the seller in a transaction; the selling agent represents the buyer. (If there is any petition out there to change the term “selling agent” to “buying agent” we’d be the first to sign it!).
Naturally, both are licensed by their state’s official agency to act on behalf of buyers and sellers in property transactions – and the government does not differentiate between the two in the certification process. So the “listing” or “selling” tag is only used to designate their role in a specific deal. And of course, neither is technically required for a sale; the homeowner and/or the buyer could represent themselves. But to represent someone else (which is far more common for the vast majority of sales), a license is required.
We’ve found that the best way to remember the main difference is a little clue we put in the title of this blog post. Listing Agent VERSUS Selling Agent… meaning, they are representing the two different sides of the negotiating table. Here’s some more info to explain how else they're different.
Listing Agent
Listing agents are real estate agents who help you list and market your home for sale. If you're selling your home on your own (i.e., without hiring a seller’s agent), then you would be acting as your own listing agent.
The primary duties of a listing agent include:
- Listing the home for sale
- Pricing the home correctly
- Marketing the home through various channels (e.g., MLS, Zillow, etc.)
- Showing the home to potential buyers
- Negotiating offers with buyers
- Helping with real estate paperwork and contracts
- Managing deadlines and sale contingencies
At the end of the day, a listing agent's goal is to sell your home for the highest possible price in the shortest amount of time possible. They find prospective buyers and expedite a smooth home sale.
Selling Agent
Selling agents are real estate agents who help you buy a home. If you're buying a home on your own (i.e., without hiring a buyer’s agent), then you would be acting as your own selling agent.
The primary duties of a selling agent include:
- Finding homes that match your search criteria
- Showing you homes that match your search criteria
- Helping you negotiate with the seller's agent/seller
- Managing deadlines and sale contingencies throughout the property transaction
Ultimately, a selling agent's goal is to help you quickly find and purchase the perfect home for the best possible price. Selling agents prefer to work with buyers who are looking for turnkey homes; that is, homes that don't need any major repairs or renovations. Selling agents typically don't work with fixer-uppers or foreclosures because those homes require more work than most buyers are willing to invest.
Conclusion
That’s all there is to it. Any real estate agent must be certified by their state to represent buyers and sellers. A listing agent represents the person selling a house; they handle pricing, marketing, and sourcing appropriate offers. A selling agent is a representative of the person buying the house; they handle finding homes, showing them to their clients, and negotiating a reasonable price. Real estate professionals can be both listing agents and selling agents for different transactions (and they usually are), they both handle a ton of legal paperwork, and they both want to oversee successful home sales!
Like this article? Send it to a friend that (incorrectly) thinks a selling agent is the one who represents a home seller.
