Listing Agent

A listing agent is a real estate agent who represents a seller in a real estate transaction. Also known as a "selling agent" or "seller's agent." The name "listing agent" is derived from the fact that one of their roles is to add new properties to the list of for sale houses that is shared amongst co-operating real estate brokerages. Back in the day, the lists lived in physical books; today they're found in Multiple Listings Service (MLS) databases.

While real estate agents can handle both sides of a real estate transaction (work for a buyer or a seller or both), a listing agent concentrates their business in selling (listing) homes and is the authority to negotiate the sale of the home on behalf of the home owner.

A real estate agent who lists a home for sale has a legal and binding contract to secure a ready, willing, and able buyer. This contract also provides that the agent has a fiduciary duty to the seller of the property, meaning that as an agent, his duty is to represent the seller, not the buyer. It is a common misunderstanding that many buyers do not want an agent, thinking that the lsiting agent can get them the best deal. In fact, the opposite is true. While many agents do a a good job in completing a 'dual agency' by representing both buyer and seller, most lawsuits in real estate transactions come from this type of transaction.

Since the seller pays the commission (in most cases), it is extremely unwise for the home buyer to enter into a contract without an agent to represent them. The listng agent has a contract to sell the home, not to get the 'best deal' for the buyer. In fact, the agent will do as much as is legal to get the highest price for the property. The listing agent is ethically bound not to disclose the 'bottom line' the the seller will take, even if he or she knows it.

Both the buyer and seller should take great care in selecting their agent. Look for experience, knowledge, and the ability to aggressively market the home. Buyers should be certain that their agent can listen to them and find the home that best meets their needs. Most of all, look for someone that you find easy to work with. There is nothing so painful as to be in an escrow for 45 days with a person you do not like.

Everyone knows a real estate agent. Many people are related to one. Many have friends in the business. The suggestions above apply even to friends and families. Often a new agant's first deal is with a friend of fmaily member. Nearly as often, the deal (which is a high stress event) has difficulties. Losing a friend over a deal or having uncomfortable silences a the Thanksgiving table because of a real estate transaction is never good. Use the head, not your heart when selecting an agent.