Many people opt to work with a real estate agent to assist them in navigating the process involving property transactions. There are two kinds of real estate agents, so based on your personal needs, you may have to hire a listing or selling agent to help you out. Unlike what other people say, selling and listing agent have separate and different responsibilities. Even so, they’re both essential for the completion of a property transaction. Here’s what you have to know to help you decide whether you need a listing agent or a selling agent.
What is a listing agent?
A seller’s agent or a listing agent Myrtle Beach, SC will represent the interest of the client who wants to sell a property. These agents have an in-depth understanding of the market as well as how to sell and price a property effectively. The primary responsibilities of a listing agent include:
- Listing the property on different listing services
- Negotiating the prices of the property
- Setting up contingencies and conditions on behalf of the property seller.
- Advertising the property
- Pricing the property
- Heling with the closing paperwork
Most listing agents will ask the sellers to sign an exclusive selling agreement. Because of this, the agent will get a commission for their brokerage upon closing. The brokerage will then share a part of the commission with the agent.
What is a selling agent?
The name may sound familiar but the selling agent is different from a selling agent. A listing agent will take care of selling the property while a selling broker will represent the buyer’s interest.
Anybody who is looking to purchase the property will benefit from hiring a selling agent to help you in navigating this complicated process. This kind of real estate agent will learn what the buyers want so that they can help match them with properties that they might be interested in. Selling agents will do the following:
- Find properties that will meet the buyer’s needs
- Show properties that meet the needs of the buyer
- Helps the buyer secure financing
- Guides showings
- Helps the buyers with the closing paperwork
- Helps make sure that the properties are priced fairly
Just like listing agents, selling agents usually work with a brokerage. When they give an offer for the buyer that’s accepted by the seller, the selling agents will get a portion of the commission that’s earned by a listing agent. Since this process needs both kinds of agents to profit off of one transaction, it’s referred to as a co-op commission.
How do both kinds of real estate agents work together?
In order for a property transaction to go seamlessly, a listing agent and a selling agent need to work together. They will act as the mediators between the buyer and the seller to make sure that both parties are happy once the transaction is completed. Even if the agents are working for different real estate firms, they should work together to make sure that both the seller and the buyer benefit from the sale. For more information, you may call Full Potential Real Estate, LLC.
Whether you’re looking for a selling agent, a listing agent, or both, Full Potential Real Estate, LLC can help you find a realtor who will meet your needs. You may reach us at (843) 492-4537.
Full Potential Real Estate, LLC
Myrtle Beach, SC 29577