The Difference Between Hiring a Buyer’s Agent to Sell Your Home vs an Expert Listing Agent
Mindset & Experience
That's the difference between hiring a "buyer's agent" to sell your home vs. an expert "listing agent." I'm sure you'd like me to elaborate. Let's start by explaining what we mean by buyer vs listing agents.
Buyer vs Listing Agent
We actually have an entire blog, "Explaining Buyer Representation in Florida" that outlines this in-depth, but here's the skinny. In Florida, there is no Dual Agency representation, where the agent “equally” represents both the buyer and seller. An agent is presumed to be transactional (not representing either party exclusively) unless they have an Exclusive Right To Sell listing agreement or an Exclusive Buyer Brokerage Agreement. In either of these cases, the agent now has the fiduciary responsibility in representing you as either the buyer or seller.
Buyer's Agent Mindset
A buyer’s agent is diligent about everything relating to condition:
- Inspection reports
- Updates and repairs
- Association Reserves, etc.
They know potential problems when they see them. Their diligence about condition translates into knowing where they can negotiate on price. A buyer’s agent also knows what can be changed easily and the improvements that would add value to a home. Once they get to know their client, they will understand their needs and can show homes that already suit their needs or can easily suit their needs with a few changes to the property. At the end of the day, they are focused on price — after all, the goal of a buyer is to pay the least amount of money for the property that suits their needs.
Listing Agent Mindset
A listing agent has a seller’s best interest in mind, which is to get the most money for their property in the shortest timeframe. They use their market knowledge to arrive at a listing price that is based on comparable properties, plus specifics to your home that may add value. Then, the listing agent develops a marketing strategy to get buyers and agents interested and also present your home in the best light. A listing agent will spend time giving advice on staging your home and other changes you can make to bring out the beauty of your home and get the best ROI.
Listing agents have insights on what convinces buyers to make an offer on a home, how to distinguish your listing from similar homes, and how to adjust your strategy based on current local marketing conditions. Further, listing agents have an advantage when it comes to negotiation. They’re more likely to set a higher asking price than an agent who deals more with the buyers’ side of transactions.
Benefits of Hiring A Listing Agent
An agent that specializes in listing and selling homes will be prepared with a plan for your listing to come to market in the most effective way possible. Oftentimes, what happens before a property is listed is the most important part of selling the property.
- Pricing strategy
- Online marketing strategy
Listing agents have proven tactics for each of these steps. Once you're ready to list your home your listing agent will walk you through all of the steps of the process such as hosting open houses and navigating multiple offer situations. When it comes down to it, a buyer's agent may not be prepared or trained to handle all of the aspects of the sale as efficiently and successfully as a listing agent.
Benefits of Hiring McCallion & McCallion
Most of our licensed real estate agents on the McCallion Team operate as buyer's agents, with Susan McCallion being our expert listing agent and broker. It's important to note that Susan has many years of experience helping buyers find homes, and most of our "buyer's agents" have helped list and sell at least one property as well.
The benefit of working with our team is that you get expert marketing and sales experience no matter who "your agent" is. We have a team of marketing professionals and back-office staff who are trained to handle the various parts of the listing and closing process. Our agents have years of experience working with both buyers and sellers and are constantly improving their expertise through professional coaching programs, real estate education classes, team meetings, training sessions, plus hours spent working in our local market. At the end of the day, you're in good hands with the McCallion Team.