Answer for "Is it better to be a listing agent or buyer agent?"
Succeeding as a real estate agent is not an easy task and you might get lost along the way if you don’t continuously strive to become better. If you just started pursuing a real estate career, you might not be very concerned at this point about whether you should be a listing agent or a buyer agent. You might think that going both ways makes for good practice, but eventually, you will want to know if it is better to be a listing agent or a buyer agent?
The truth is that there is no real correct answer to this question and it is very dependent on what you want to do. However, there are differences between a buyers agent and a seller’s agent that might make you want to consider one over the other. It is also important to know that a seller agent can very often be associated with the buyer’s agent. Why? The two terms are very often interchangeable. That’s because once the home buyer decides to purchase one of the homes presented by the buyer’s agent, a real estate contract is signed and the agent is designated as the selling agent. That is why the distinction is made clear because we are talking about listing agents vs buyers agents.
What is a buyer's agent, after all? A buyers agent helps clients find properties and they use the multiple listing service (MLS) to do so. The buyers agent gets in touch with the listingagent to set up showings, they help clients create offers and present the offer to the listing agent. They also guide their client(s) through closing if the offer is accepted. A listing agent represents a home seller and he will guide them through marketing their property, negotiations as well as review submitted offers.
While, to find a real estate agent might not be a hard task, being a good agent requires hard work and dedication. Would you want to be a listing agent, a buyers agent or both?Yes, you heard me right! It is very common for agents to work both as a listing and a buyers agent. A listing agent signs a listing agreement and the document is legally binding you to the sale, but as a buyer’s agent, if you don’t have your clients sign a buyers brokerage agreement, the client has no obligation toward the agent.
However, some might argue that it is the professionalism and the ability of the agent that determines if one is clearly better than the other. A buyers agent might be able to help clients find a home in no time while an overpriced listing might never sell. The opposite can be just as true. Some might argue that becoming a listing agent is the way to go. By securing a reasonably-priced listing from an owner you can sell the property and collect the commission, and you will be rewarded for your efforts.
On the other hand, as a buyers agent, you can write a lot of offers for a prospective buyer that you’ll never win and therefore, waste a lot of your time. It is common in situations like this to not earn a commission, despite all the hours spent. It might appear that you get more returns on the seller side, however, buyers can become sellers in later years so that can also translate into earning if you look at it this way. If you are a dedicated team player in real estate, it is surely going to pay off on both ends.
Have a question or comment? We're here to help.