Most real estate agents wear two hats. They either work in the best interest of the buyer or the seller. What are the other differences between a buyer’s agent and a seller’s agent? How do these professionals help you walk through the steps to buy a house or sell a home?
A buyer’s agent works on behalf of the person buying a home.
Good buyer’s agents should continuously scan listings to inform their clients when new properties are on the market, especially when those listings are below the typical asking price for an area.
Most of the time, buyer’s agents are present when their clients look at potential homes. As real estate experts, they should be on the lookout for flaws that may go unnoticed to an untrained eye. At the same time, they should also help their clients see a vision for the home that may just need a few cosmetic updates.
Buyer’s agent also acts on behalf of their clients during the negotiation process. This means that the agents should advise their clients on the amount they should offer for a property. A good buyer’s agent has an in-depth understanding of the local real estate market. The agent should know when to push for more updates or repairs or when to accept a counteroffer as is.
A buyer’s agent should also help a client find the other professionals that are needed during the home-buying process. The realtor may suggest a particular home inspector or mover assist the client.
Finally, buyer’s agents should prepare their clients for the closing process. The realtors should let their buyers know what to expect when they show up for their closing appointments.
A seller’s agent, or a listing agent, helps a homeowner list a property for sale.
One of their first jobs of a listing agent is to help the homeowner choose an appropriate asking price for the home. Choosing an asking amount is part art and part science. Although listing agents can pull comps for other houses sold in the area, each home’s features are unique. This makes determining an asking price to be a rather tricky endeavour.
Seller’s agents assist the homeowner with hiring a professional stager or giving the homeowner advice on things they can do to make their homes seem more attractive and spacious to potential buyers. Seller’s agents know what appeals to buyers in their local areas and may suggest that their clients update the bathroom vanity or repaint the master bedroom to appeal to potential buyers.
Finally, listing agents help negotiate on behalf of their clients to help receive the most money for the sale of the house. Since most listing agents receive a 3% commission based on the sale price of the home, it behoves them to negotiate with the buyer for the most amount of money.