What does listing agent mean

A selling agent is a buyer's agent. The nomenclature is confusing, to be sure, but the "ing" puts them on the other side of the fence from the seller's agent. They bring buyers to the table. In that respect, they also get a property sold. Technically, this agent is called the "buyer's agent" before a contract is signed, and thereafter they're designated as the "selling agent.

Of course, you're free to sell your home on your own, which is known as "for sale by owner " FSBO , but unless you have a knack for marketing and a bit of experience, you'll probably find that you'd do better with an agent. And if you're the buyer? They're concerned that they would otherwise feel a fiduciary duty to the buyer, which is the responsibility to protect that buyer's interests. That can be difficult when they're technically representing sellers. Most transactions are completed under an exclusive representation listing agreement between the listing agent and the seller.

But a listing agent might accept a small flat fee to act as a clerk and put a home for sale into MLS in a few isolated circumstances, yet not really represent the seller. Or the listing agent might execute an open listing with the seller, and the seller could also list with a variety of real estate agents, but this is uncommon.

The most common form of seller representation is when the listing agent has signed an exclusive right-to-sell listing with the seller. This means only the listing agent is entitled to a commission, or more accurately, the listing agent's brokerage is entitled to a commission. The brokerage then typically shares the commission with the agent. Exclusive listings are bilateral agreements between a broker and a seller.

Listings agents like to believe that the listing belongs to the agent, but the listing is actually not their property if they aren't the broker. Listings technically belong to the broker or brokerage.

Generally, the listing broker cooperates with another brokerage when that competitor represents the buyer. The listing broker pays the selling brokerage a portion of the earned commission, in exchange for bringing a buyer, if that buyer then submits an offer that the seller accepts. This is referred to as a "co-op commission. Although the listing agent is typically not the selling agent, this doesn't mean that the agent might not work in a dual agency capacity as a selling agent as well.

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Listing agents help sellers price, stage, and market their property, show it off to prospective buyers, and negotiate offers. Selling agents discover properties and show them off to buyers, provide advice and assistance when making offers, arrange inspections, and ultimately close deals on behalf of their clients.

Listing agents and selling agents work together on behalf of their respective clients to negotiate mutually favorable terms for a property sale.

Such an arrangement is called a dual agency sale when the listing agent and selling agent work for the same brokerage, and a dual representation sale when the listing agent and selling agent are one and the same. In either case, the practice is ethically dubious because it presents a clear conflict of interest.

Simply speaking, the same agent or brokerage cannot observe a fiduciary duty to both a seller and a buyer simultaneously. Because of this conflict, there are clear restrictions governing dual agency sales and limiting their usefulness to sellers and buyers.

This nullifies one of the primary benefits of working with a real estate agent in the first place: professional advocacy at the negotiating table. In addition, a dual representative has a personal incentive to maximize their own commission.

This incentive is not held in check by a competing representative as it would be in a standard real estate transaction. This additional cost of business is simply built into the asking price for their property. Generally, each of these parties is represented by a professional real estate agent who negotiates the terms of the deal on their behalf.

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A lot of very good answers out there. Upvote 1. Ambassador 2,, Rainmaker 4,, Rainmaker 3,, He at least could have called and said he had multiple offer's! House to Home, Inc. Apr 03, AM. Apr 02, AM. Rainmaker 6,, A call or email. He or she has it. That is all! Sometimes the sellers do not respond for days and another offer might have come in. Who knows what goes on in anybody's head.

Have to say they will present them in order. Ambassador 5,, Probably means that they are thinking about it while shopping it out to someone else. That's when the clock starts ticking. It means I keep pressing. And the press isn't over until the check clears the bank.

Rainmaker 2,, It could mean that this is the beginning of a beautiful relationship. Recent Questions. Be ready to run an errand or go out to eat at the drop of a hat if an agent calls with a perspective showing.

It's a fact of the real estate market that the longer a home is on the market, the lower the final sales price for that home will eventually be. The reason is simple supply and demand. If demand for your home is high, it will attract a large number of buyers quickly.

Those buyers will have to outbid each other to win the right to buy your home, driving the price up. If demand is low, it will take more work to attract buyers, and you'll often have to settle for your initial price, or lower the price to attract buyers.

If you tell your listing agent that you have plenty of time to sell your home, they may take that as permission to put their efforts on the back burner and concentrate on their other listings. Without their marketing muscle working for you, you're far less likely to make that quicker, higher sale. In fact, your initial listing agreement with an agent should only last a maximum of three months. If you haven't made a sale after that period, you can either renew the agreement, or find another agent.

It's the kind of thing that would be easy to drop into casual conversation with a listing agent: "Oh, my husband and I are getting divorced, so we have to sell the house.

The hope is that you'll accept because you need to get out of the house as soon as possible. A listing agent might innocently bring up the topic at an open house, during a showing or even as inter-office gossip with other agents.

It may seem harmless to the agent also, but when word gets out among potential buyers, it could seriously decrease the final price of your home. It's never a good idea to let word reach buyers and other agents that you are desperate to sell a house. Typically, you'll receive lower offers and a lower final sales price if buyers think they can take advantage of you.

So, it's better not to tell the listing agent if you are selling because you lost your job, or have some other financial hardship. Some agents might be tempted to advertise your home as offered by a " motivated seller ," a signal that the seller will accept a below-market offer [source: Evans ]. You'll likely have better results if you keep financial problems to yourself, so buyers don't try to take advantage of your situation.

Sharing financial distress before signing a listing agreement could also scare away a skilled agent who could secure a good closing price. They may worry that you could be tempted to bail on them to save money on a commission. Like other catastrophes that require homeowners to move out as quickly as possible, it's in the seller's best interests to keep news of a serious illness from buyers.

Even if a listing agent is sensitive to your situation, they might show too much urgency to sell in listings, ads, and during showings and open houses. It's best to approach the listing as you usually would, to ensure that you can get the best price. When it comes to signing a listing agreement, don't insist on a shorter contract term, despite your urgent situation. While you might like to allow the agent only one month to sell your home before terminating the agreement, most agents don't think that gives them long enough to realistically make a sale.

Many states require that homeowners disclose all material information about a house to a buyer prior to closing. Material information includes damage to the house and past repairs that will influence the final sales price.

Since you have a legal obligation to eventually tell the buyer about those disclosures, there's no point in keeping it from your listing agent. However, information like a death that occurred on your property is a different story. Legally, your options may be limited in whether or not you must disclose a death to the buyer, and by extension, the listing agent.