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Listing Agent

Listing Agent

We’ve covered what it means to hire a buyer’s agent, so what’s the other side of the coin? In most real estate transactions, there is a buyers agent and a sellers agent. These two agents represent their respective clients, the buyer and the seller. The sellers agent is also called the listing agent.

The listing agent is hired by the sellers to represent them in the sale of their home. In addition to representing their best interest, the listing agent does a number of things:

  1. Researches the market to establish Fair Market Value for the property
  2. Assists, and provides guidance to get the house in ‘market ready condition’
  3. Prepares necessary paper work to accurately market the house (listing agreement, sellers disclosure statement, ect)
  4. Markets the property through the use of multiple tools, including the MLS, websites like Craigslist, zillow.com, trulia.com, realtor.com, and also any print advertising
  5. Takes pictures, or hires a photographer
  6. Solicits showings, from buyers and other agents
  7. Solicits offers from said showings
  8. Assists sellers in navigating through multiple offers, and selecting the best one
  9. Guide sellers through the selling process
  10. Get to closing!

In the listing agreement, compensation for the listing agent is spelled out. Typically, the agreement identifies a total real estate commission that will be paid upon the successful closing of the property. Often, the listing agent offers to split this fee with a buyers agent. For example, if we list a  house, with a real estate commission of 6{16e476496f5f3a73cb19f20a476d08f8bca71b0bf9338242f1d2bf6ed337f382}, 3{16e476496f5f3a73cb19f20a476d08f8bca71b0bf9338242f1d2bf6ed337f382} will go to the listing agent and 3{16e476496f5f3a73cb19f20a476d08f8bca71b0bf9338242f1d2bf6ed337f382} to the buyers agent. If the buyer is not represented, the listing agent can receive the entire 6{16e476496f5f3a73cb19f20a476d08f8bca71b0bf9338242f1d2bf6ed337f382}. If the house does not sell, in this example, the sellers do not pay any commission

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