What is the difference between the Buyer’s Agent and the Seller’s agent?
I get ask this often, and the traditional buyer’s agent or sub-agent has a legal obligation to the seller of a property more than to the one buying. But over the last several years agents dedicated to the best interest of the buyer have evolved.
The Buyer’s Agent:
The Buyer’s Agent is contractually bound by the Buyer’s Representation Agreement for a negotiated length of time to help their buyer obtain the best possible price and terms when purchasing real estate.
The advantages of Buyer’s Representation are easily apparent:
• Ability to disclose “inside” information about the seller’s position that the sub-agent cannot legally divulge. This information can benefit the buyer when making an offer to purchase real estate.
• Advise and counsel a Buyer with unrestricted assistance.
• Prepare an estimate of value and future salability to insure the true value of the property.
• Investigate any situation that might jeopardize the best interest of the Buyer.
• Negotiate with the Listing Agent and Seller to obtain the lowest price.
• Show all properties on the market, regardless of whether they are listed with Multiple Listing Service.
• There is no pressure to purchase any particular property since all sales commissioned are under terms of an exclusivity contract.
Selling or Listing Agent
The Seller’s Agent or Listing Agent is employed by a real estate firm, this agent works with the seller to establish an appropriate sale price for the home then markets that property, usually through a multiple listing service. They have a legal obligation to the seller.
In any real estate office, each agent works hard to sell their company’s listed properties and each is paid only if the home is sold. Their commission is on a percentage of the final sale. If the selling agent fails to produce a buyer for their client within the negotiated time frame, the seller may pull the property listing and contract with another real estate company.
If you are looking for a partner to help you with your real estate needs in The Woodlands or surrounding area fell free to contact me. tinabrickhouse.com