The Difference Between Hiring a Buyer’s Agent to Sell Your Home vs an Expert Listing Agent
So you've decided to sell your home... Now it’s time to find a real estate agent.
While you’re researching prospective real estate agents to interview, you’ll recognize that there is a big difference between buyer’s agents and listing agents. Of course, most agents will do a few listings and sell a few homes. But there can be a big difference in the level of expertise that an agent brings to the table. Though many potential sellers make the mistake in thinking that any real estate agent can sell your home, and in this market it is true, virtually anyone can sell a home. The difference between an expert marketer and a dabbler can be dramatic.
Excellence vs. Adequate
A buyer’s agent is obligated to put the best interests of the buyers in mind. In fact, a buyer’s agent contract will clearly state their fiduciary responsibility to the buyer. They’re diligent about everything relating to condition: Disclosures, inspection reports, making sure that any updates and repairs were reported properly. They know potential problems when they see them. A buyer’s agent is 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.
Professionally speaking, the goal of a buyer’s agent is to make a sale. They engage buyers who could be interested in a home and show a homes to buyer prospects. A great buyer agent translates knowledge about what they see 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.
For some sellers, hiring a buyer’s agent is an attractive idea because you’d theoretically benefit from their specialized insights. Because they show so many homes and spend so much time with buyers, you’d get a peek into the minds of what potential homeowners want right now. However, hiring the buyer's agent that helped you find your home to sell it a few years later may not be the best option.
Should a Seller Hire a Buyer’s Agent?
Here’s the issue: In our market, visibility and the ability to spread the details and value of your home makes a big difference in the number of showings you'll get. Yes, any licensed agent can technically sell a home in this market but we assume your expectation is excellence not just completion.
My saying is, "More eyes equals more money." Those eyes come from a serious, deeply researched, heavily funded marketing system and promotional plan specifically engineered to get the attention of the people looking for homes in Evergreen.
What is a Listing Agent?
A listing agent is a real estate agent who specializes in working with sellers. They have a seller’s best interests in mind, which is to get the most money for their property in the shortest timeframe. Listing agents should also have specific expertise in a type of home: Historic homes, luxury properties, townhouses, condos, vacation homes, or even specific styles (like mid-century modern homes).
Like a buyer’s agent, a listing agent is focused on making a sale. However, the route they take to get to the sale is a bit different. Their job is to achieve or exceed your asking price. Arriving at the price 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 but also presents your home in the best light. A listing agent will also spend time on staging your home and other changes you can make to bring out the beauty of your home.
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.
Why Should I Hire a Listing Agent?
When hiring an agent to sell your home it's important to understand the different aspects that go into the sale from preparation and marketing to showings and negotiation. 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. With Bob Maiocco that plan is rooted in the experiences that can only be gained through hundreds of successful transactions in and around Evergreen.
Often times, what happens before a property is listed are the most important parts of selling the property. Between pricing strategy, staging, photography, videography, and online marketing 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.
A buyer's agent may not be prepared at the highest levels or have a mastery of handling all of the aspects of the sale as efficiently and successfully as a listing agent. Now more than ever, having an expert in your corner before during and after a real estate transaction is vital to achieve excellence in the sale of your home.