Don't worry, you aren't alone, real estate can be complicated. It's a massive industry with so many titles, positions, and jobs that sometimes it can get your head spinning. We here at Qube Realty understand our clients and want to clear up as much of this confusion as possible!
One of the biggest questions we get is: "what is the difference between a listing agent and a selling agent?" This is actually a great question, and understanding this difference can really help you understand the home buying and home selling process. Let's get started!
What do listing agents/buyer's brokers do?
Very simply, a listing agent/buyer's broker is responsible for representing and acting in the interests of the person who is selling the property. Listing agents can also be called "seller's agents" and are frequently called "buyer's brokers," which just makes the whole thing even more complicated considering they are vastly different than "selling agents."
Listing agents typically have a great understanding of the entire real estate market, and are pros at marketing and pricing a property. Their goal is usually to maximize the seller's profit while keeping the property on the market for as little time as possible.
Sellers usually have to sign exclusive selling agreements with listing agents, so that they secure a commission for themselves or their brokerage.
Some of their responsibilities include:
Listing the property (on MLS, Centris.ca, etc.)
Negotiations on the seller's behalf
Scheduling showings
Pricing the property
Advertising the property
Helping with all paperwork at closing
What do selling agents do?
Are you ready for the most confusing part? Selling agents work for home buyers.
Basically, anybody who is looking to buy a property is usually advised to work with a selling agent to help them navigate the market and get the best deal possible. Selling agents learn what home buyers are looking for and help match them with the best possibilities.
Selling agents also usually work with a brokerage. When they submit an offer (on behalf of the buyer) that is accepted by the seller, they typically receive some of the commission earned by the listing agent.
Some of their responsibilities include:
Finding and showing properties to the home buyer
Helping the buyer secure financing
Guiding home showings
Helping with all closing paperwork
Ensuring that the homes are fairly priced
Do listing and selling agents work together?
Indeed they do! In order for a property transaction to go as smoothly as possible, a listing agent and a selling agent are usually required.
Think of them like professional real estate lawyers who are representing the interests of their clients. They know the industry inside-out and guide the deal so that both parties are as satisfied as possible.
Looking for the best listing or selling agents in the Montreal area?
With some of the lowest commissions in Canada and professional insight, we at Qube Realty provide our clients with the most valuable full real estate service possible. Qube supports Quebec residents by providing full-service real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive cash back when they purchase a home with one of our REALTORS®. All you have to do is visit our website here or call 1-877-410-7823 to learn more.
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