Sometimes, understanding the difference between a Realtor and an Agent, isn’t enough. Many times, you will find that Real Estate Teams will have Buyer’s Agents and Seller’s Agents. The difference is fairly simple to explain: A buyer’s agent represents the buyer and a seller’s agent represents the seller in a real estate transactions. In some cases, the same agent can serve both roles in what is known as dual agency.
Here are a few of the main responsibilities of each:
BUYER’S AGENT DUTIES
Finding Properties – A buyer’s agent will search for houses based on your specific criteria and show them to you. The agent will have access to show you any houses you find on your own, as well as houses they are able to find using their own resources that are listings not necessarily easily found on websites or apps you are searching within.
Decisions – The buyer’s agent will help you to determine which property is best for you. Research done on each property by the agent should allow him/her to point out different features that could present problems in the future, give you the history of each property, explain the value of the property, as well as answer any questions you may have regarding the property.
Handle and Negotiate Offers – The buyer’s agent will represent you in all transactions. This means he/she will handle and negotiate all offers on your behalf. They will help you decide what terms of your offer make the most sense as well as helping to ensure your offer is competitive. In other words, they will help make sure your offer is fair and not too generous or to low.
Contingencies – The buyer’s agent will walk with you throughout the whole process. It is their job to make sure you are aware and following through with all the paperwork and necessary contingencies to be completed for the closing day.
SELLER’S AGENT DUTIES
Pricing the Property – It is the seller’s agent’s responsibility to accurately and competitively price your home. The goal of the seller’s agent is to sell your property for the highest value, in the shortest amount of time, with the least amount of inconvenience.
Marketing – Marketing your property is key for selling it. The seller’s agent will take action to host an open house, create print marketing, put a FOR SALE sign in your yard, and/or most importantly, market your property to other agents. The seller’s agent will list your property in the MLS system to ensure it is easily found.
Repairs and Improvements – Details matter to buyers. A seller’s agent will be able to help you understand what updates and repairs are necessary in order to get the most value for your home.
Offers and Contracts –Much like the buyer’s agent, the seller’s agent is responsible for negotiating all offers on your behalf. They will present you with all offers and help you to determine key differences between them to allow you to make an educated decision on when and for how much to accept. They will also stick by your side throughout the entire process to ensure everything is complete through the closing day.