A listing agent is not the same as a selling agent. A selling agent represents the buyer in a real estate transaction. Selling agents represent the buyer only. In the real estate business, a selling agent is not considered to be the same as the buyer’s agent. The terms are synonymous. In certain aspects, the selling agent helps sell your home by bringing in a buyer. The listing agent and the buyer are on opposite sides of a real estate transaction. While their goals are mutual, the interests they represent are different.

What is the role of a listing agent? When you sell your home, a listing agent does more than just place a “For Sale” sign out front of the property. A listing agent enters your home’s data into the “MLS,” a database where buyer’s agents and seller’s agents search for properties.

For Sale by Owner. 

A listing agent can also assist you in determining the asking price. Generally, people who sell a home they’ve lived in for a long time tend to develop emotional attachments. This can make estimating your property’s value difficult. To determine an asking price, a listing agent studies comparable homes in terms of location, size, and other qualities. This pricing is typically 26% higher than For Sale By Owner (FSBO) homes sold without an agent. Even after an agent’s commission and without completing your own research, an agent will help put a lot more money in your pocket.

Repairs are recommended by a listing agent. When you sell your home and you get the home inspection results from the buyer’s side, a listing agent can assist you in figuring out which repairs are required by the buyer, his attorney, or the buyer’s lender, in addition to determining what structural or safety issues must be addressed and which are merely aesthetic or non-latent defects and, as a result, not required to seal the deal.

How much is my house worth? 

A listing agent can assist you in staging your house. Home staging should be considered when you sell your home. De-cluttering and redesigning rooms to highlight their function and qualities helps properties sell faster and get higher offers. Generally, unstaged properties stay on the market for an average of 90 days, while staged properties sell in 18 to 25 days.

Your home is marketed by a listing agent. When you sell your home, experienced listing agents arrange for professional interior and exterior photography as well as virtual tours. These marketing tools help reduce unwanted or wasteful showings for the seller.

Short sale.

A listing agent handles all of the details on behalf of the home seller. When you sell your home, a real estate deal has more moving pieces than one might assume. A skilled listing agent helps the seller and buyer negotiate a price, resolve contingencies, and coordinate the closing. The goal is to help you avoid feeling overwhelmed.

How much does it cost to sell a house? 

A listing agent is a person who actively helps the seller. When you sell your home, a listing agent is your confidante throughout the transaction. The listing agent will contact the buyer’s agent on your behalf. A real estate listing agent will help you negotiate the best possible price and terms. Your first reaction to a low-ball offer may be to reject it. However, the buyer may agree to a higher price with a creatively structured counteroffer. For example, a flexible move-out date or other concessions This modest offer has now become an opportunity to bargain.

What steps does a REALTOR®, broker, or real estate agent take to become a listing agent? State-specific education requirements differ for real estate brokers. A top agent who works seven days a week can make six figures annually, whereas those who work part time may earn less than ten thousand dollars. While there is no industry standard or exam to distinguish listing agents from selling agents, most brokerages have their own differing standards.

Questions and answers for sellers.

How is a listing agent compensated? When you sell your home, both the seller’s and buyer’s agents are paid a commission. Real estate agents’ commission rates are negotiable and generally do not exceed 6% of the sale price. In most cases, commissions are paid by the seller. The buyer’s and seller’s agents each get half of the commission, and the listing agent includes these figures in the asking price. A good listing agent will research other sellers in the area to ensure that the listing is competitive. A buyer’s agent may show their clients only homes with higher commissions. Rules, laws, and ethics don’t match the reality of the marketplace. A listing agent who urges a seller to lower their commission while other sellers in the same area are paying greater commissions may be doing them a disservice. Please contact us directly if you have questions about Illinois Star, Ltd. REALTORS’ commission rates.

Expired listing.

What is the best way to discover a good listing agent? When you sell your home, no matter how you find a listing agent, you’ll want to ask questions like, “How long have they been a listing agent?” Do they know your area? How many properties have they sold? How much do they charge? How long do their listings stay on the market? Do they work with professional photographers, home stagers, contractors, etc.? Do they recommend any upgrades or repairs? Most of the information is widely available online. However, pricing is critical. Be mindful of your budget when considering the sale price of the home. A $300,000 home requires a different marketing and negotiation strategy than a $3,000,000 home. Let the listing agent do the heavy lifting. When a seller puts their house on the market, the listing agent’s job is to help them understand how to properly package it to maximize exposure and profit. Request an Illinois Star REALTORS’® help here.