Every real estate transaction has a buyer and a seller. Most transactions also have a buyer's agent and a seller's agent commonly referred to as a listing agent. What each type of agent does and for whom is often a mystery. While both are licensed real estate professionals, they have very different responsibilities.
What is a seller's agent and what do they do?
A seller's agent, or listing agent, works exclusively for the seller and the seller's best interests. They list the home or property, market it, negotiate for the best price, and successfully steer the deal through the closing.
What is a buyer's agent and what do they do?
A buyer's agent, on the other hand, works exclusively for the buyer. It is their job to find the best house for their clients, negotiate a price on it that is advantageous to their buyers, and see the transaction through until closing, handling any speed bumps that come up in the process.
Is a buyer's agent worth the money?
Here's the deal. A buyer's agent is free. Yes, that's right. It cost the buyer nothing to work with a buyer's agent. When a house is listed for sale, the seller agrees to pay commission to the listing agent. That agent, in turn, splits the commission with the buyer's agent at closing. In other words, the seller pays for both commissions. There is no reason for a potential buyer to not work with a buyer's agent.
Can a buyer talk to the listing agent?
Well, it is possible. Anyone can use a telephone, however, it is not recommended. The listing agent works exclusively for the seller. Anything you tell them will be used against you when negotiating, even the stress in your voice can end up costing you more money. Instead, let the buyer's agent do the talking.
What makes a good buyer's agent?
Some buyer's agents work exclusively as buyer's agents because it is what they are good at. They do not like marketing houses to get them sold, but rather prefer to help people navigate their way through the home buying process. They enjoy spending their days helping people find their dream home -- or their next home. Find an experienced agent that you click with on a personal level. If you get along, the personal process of finding a home will be much more enjoyable.
A buyer's agent and a seller's agent both have their place in the world of real estate, but be sure to have a buyer's agent by your side when you buy a home.
If you are interested in a buyer's agent, feel free to reach out to a buyer's agency to learn more,