Buyer's Agent vs. Listing Agent - What is the Difference? - Boise ID Real Estate
Is there a difference between a buyers agent and listing agent? Aren't all Realtors the same?
The answer-in order-is yes and no.
The difference is really simple: It's a matter of who represents who in a real estate transaction when important negotiating information is known and could make or break a deal.
All realtors should know or have access to the MLS market statistics, comparables, property history, etc.
When you are selling or buying a home, here is the difference in detail you should know........
Listing Agent:
A listing agent is hired by the seller of a property, prior to listing, to obtain the most favorable price and scenario for the seller. Whether it is thru advising or negotiating; a listing agents' duty is to represent the sellers' best interest.
Listing agents include builder representatives, most open house agents and any agent listed on the for sale sign at the front of house as well as any marketing material for the property.
Buyer Agent:
A Buyer agent is hired by a buyer to negotiate an acceptance on behalf of the buyer and advise on general real estate questions.
The sometimes-confusing aspect of a buyers agent is this: The seller typically pays the buyer agents' commission at closing. Make sense? It didnt to me at first....let me explain....
On most MLS listings it says what amount the buyer agent will be paid in commission by the seller. With for sale by owners, the buyer agent will ask the owner right up front if the seller will pay the buyer broker fee. Always verify with your buyer agent if the seller is paying the total broker fee.
I will add; the buyers agent will have to be sure (as a business practice) they will get paid for their time and efforts from the buyer if the seller doesn't pay. This is where most buyers representation contracts will include the committing the buyer to pay the buyer broker fee only IF the seller DOES NOT.
Remember it is typical for the seller to pay the total broker fee
Not using a buyer agent when buying a home would be like a lawyer representing the plaintiff AND defendant at the same time.
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Any Questions?
Contact anytime:
Eric Bracht
Market Pro Real Estate
208.991.4552
Buyer's Agent vs. Listing Agent - What is the Difference? - Boise ID Real Estate Guide
Posted via email from Boise Idaho - Meridian Idaho Real Estate For Sale
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