Sunday, November 25, 2012

What Is The Difference Between A Listing Agent And A Buyer's Agent?

This could very well be my shortest blog ever. The question I hear all the time is "what is the difference between a realtor who is a listing agent and one who is a buyer's agent?" The answer quite simply is Nothing. Nodda. Zip. Zero. A realtor receives his or her license in the same manner as the next realtor.  All experience being equal, an agent who works with listings knows and does the same things as an agent working with buyers. Most agents just simply refer to themselves as Real Estate agents either working with residential real estate or commercial real estate.
You may, on occasion, hear an agent refer to themselves as a "Listing Agent". Here's the scoop with that....some agents may prefer to mostly work with selling homes or "listing" them. The reasons can range from personal preferences to a professional persona one may want to put out to others. When you list a home, having your name on the sale sign out front is instant advertisement. Also, some may think that if you do a good job selling the house, that hopefully you will be able to help the sellers now buy their new home as well. Also, word seems to spread more quickly when an agent sells a house and that can lead to more business for that agent to sell more homes. And when you work with listing a home, it is most likely that the people selling their home are serious about doing so, whereas people buying a home may not be. Therefore, some agents would prefer to work with clients that are more likely to follow through with a transaction.
 Every agent, including myself, has worked with a lot of people who are looking to buy a home and for one reason or another, they don't end up purchasing one. Sometimes we can work with buyers for months, and even years, showing homes, sending listings, calling and scheduling showings and then nothing comes of it. It can be a lot of work and cost a lot of money since we don't make salaries, only commissions when we sell. Whether an agent is listing a home or helping someone buy a home, all the things they do for that client come from our personal funds. The photography of the homes, advertising, driving clients to and fro, our websites, the funny flyers you get in the mail with our lovely info and photos on them, our cell phones, computers...everything is on our dollar and we are independent contractors so we don't receive income unless we sell a home. So long story short, some prefer to sell a home, because like I said before, sellers are typically more serious about making a move than buyers. But in real estate, that is just the way things go.
I really hope that if I show you houses for weeks or years, and I do a good job, whether you buy a home or not, that you will come back to me and work with me again. I also hope that you will tell your friends and neighbors about me and that they will work with me as well. So, yes it can turn out to be a lot of hard work to work with buyers, and it may not pay off with that particular client, but hopefully it may, in the future, turn into something else. If you do happen to meet an agent that says they only work with listings, and you are looking to buy something, then you wouldn't want to work with someone who doesn't seem to want your business, and that's when it's time to pick up the phone and call me. I am always more than happy to help you with whatever you need whether it's buying, selling or leasing!
....and I guess this wasn't so short after all.

                                                               

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