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While stepping into the real estate market for the first time, there are a lot of terminologies that confuse the hell out of newbies.
There are specific terms that even the most experienced real estate traders don’t understand. However, it is vital that once you step into a market; you know it inside out.
Start out with basics like what to call the major parties in a real estate deal and then catch up from there. During your learning, you’ll come to the terms, buyer’s agent and listing agent.
These often confuse many people. In a normal real estate market, someone who is selling a property hires a person known as a listing agent to market and sell the property for them.
While the person hired by buyers to assist them with the search and dealing process is known as a buyer’s agent.
Why Hire a Buyer’s Agent?
If you purchase a new property, hiring a buyer’s agent shall be a wise decision for various reasons.
First of all, enlisting a buyer’s agent would mean you have someone professional on your side who is serving in your best interest.
Secondly, experienced realtors bring their knowledge and experience which you can use in your search. Someone local would know the location and its people better than you.
Finally, realtors also have access to the Multiple Listing Service, a web-based database to assist realtors in gaining more information about listings.
Why Hire a Listing Agent?
In case you’re planning to sell a property, having a listing agent with you can help a great deal in closing a perfect deal.
According to our statistics, 90% of sellers hire a listing agent to help them sell their properties, which improves their profit on the sale.
A listing also possesses all the traits mentioned for a good buying agent and an ability to devise new marketing strategies to sell your property quicker.
The agent can also help you with preparing and maintaining your home for prospective buyer’s visits.
In conclusion, a buyer’s agent is someone you can also call a “selling agent” right after entering the contract.
Whereas a listing agent represents the seller in the deal, hence they’ll be called a seller’s agent.