Did you know that there are different types of agents for sellers? Who is really going to sell your home?
After you hear a listing presentation, one of the most important questions that you should be asking is “Are you only a listing agent?” The real estate world is be a very competitive and busy place and there can be a little unintentional deceit when you decide to sign on the listing agreement. The truth is there are generally 3 types of real estate agents and you need to decide which is best for you and the sale of your home.
Listing Agent – Only.
One who only takes listings will do only that. They will preview your home, write up the contract and get your commitment. However, once the sign goes up in the front yard, you won’t be seeing them again. Typically someone else within their company will hold open houses and show your home, but this isn’t the same person who you got to know and who knows your home. This generally presents a problem when another agency shows your home and has a question. If it takes a long time for the question to get answered, the prospective buyer has already started loving another house. A listing agent doesn’t show houses nor does he spend time finding a buyer. In this case, a listing agent has set aside time in their schedule to prospect for more homes to list and meet with those people – not sell your home (they rely on a Buyer’s Agent).
Buyer’s Agent – Only.
A buyer’s agent generally only brings buyers after the Listing Agent has obtained the listing and it has entered the Multiple Listing Service. Usually the buyer’s agent is a part of a team that includes the Listing Agent, but that is only if the buyer’s agent represents the same agency. Again, if the buyer’s agent has questions but the Listing Agent is unavailable to answer them quickly, the buyer’s agent has many other homes they can quickly show the prospective buyer because the buyer’s agent wants to make a deal.
Listing Agent who also works with buyers.
A listing agent who also has a large database of buyers – and works exclusively with the mentality of getting your home sold – will do just that. Your home will be marketed to a large audience, including an already qualified list of buyers ready to make an offer. Your home is top priority with a listing agent who has your best interests in mind – full time, all the time. This listing agent will be the same person holding your open house because not only do they want to market your house, it helps to increase their list of buyers. This listing agent will know every detail about your home and can quickly relay that information to their pool of buyers or to another agency. Lastly, this type of agent is in it for the long haul. They are full-time and they only get paid when your home sells (which certainly provides the incentive necessary to sell your home!)
Personal Note: I am a listing agent who works with buyers. My database of buyers is forever growing and I understand the value that I bring to my customers when I can navigate the deal from start to finish by knowing my customer and the product (your home) well. Additionally, I do not have the same emotional attachment to your home as you would, but I have the same goals that you do – to get your home sold, no matter what.
Buying and selling real estate is set of processes and requires a plan. The main thing that a home seller must keep in mind is “What is the plan? How is my home going to be marketed?” If the plan is to just list it and wait for the buyer to just fall from the sky, you can expect the listing to expire and frustration to grow. However, if you enter into a listing agreement with a plan in place and you share the same goals with your agent, you can start packing and prepare to begin the next chapter.