A listing agent represents the seller in a real estate transaction. In this blog, we’re looking at the parameters to choose the right partner for your home sale.
What is a Listing Agent in Real Estate?
A listing agent or seller’s agent is a real estate agent representing the seller’s side. They help home sellers list, stage, and close the property. Typically, they charge 3% of the home sale price as a commission.
Paying a 3% commission just to get your property on the MLS is darn expensive. You can skip this hefty realtor commission if you choose a Flat Fee MLS service.
A Flat Fee MLS listing service enables you to list on MLS by owner and save thousands in commissions! Sellers across the U.S. have been using FSBO websites to save money on commissions.
» Flat Fee MLS Near Me: Find out the best flat fee MLS companies in your neighborhood.
What Does a Listing Agent Do?
Listing agents will help you from list to close. Listing agent responsibilities include the following:
- Pricing Assistance: A seller’s agent will conduct a comparative market analysis (CMA) to determine the best listing price for your home. A CMA report essentially compares similar properties in your neighborhood, local housing market trends, current home sale prices, etc.
- Local Market Expertise: Agents are equipped with knowledge of the local housing market in their county. They can guide you on the best time to sell your house, find local buyer agents, etc.
- Listing & Marketing Support: The listing agent’s primary role is listing your property on the open market. They will upload the listing paperwork accurately. Some seller’s agents also offer marketing and home staging support.
- Closing Assistance: Agents may negotiate on your behalf of you or assist you in being the better negotiator. Documents related to closing are also facilitated by the seller’s agent.
Who Pays the Listing Agent?
The seller pays the listing agent. The seller also pays the buyer’s agent at the time of closing. It is typically 5% – 6% of the home’s purchase price.
» Closing Costs for Seller: Find out which costs the seller has to pay at closing.
How to Choose a Listing Agent?
Choosing the right listing agent is important to ensure you get maximum cash for your home. Home sale proceeds are what remains after closing costs and the agent commission are deducted.
Here are a few parameters to consider before you choose a seller’s agent in 2023:
- Customer Reviews: Does the agent have good reviews from past clients?
- Commission: Is it a traditional listing agent commission or a flat fee realtor?
- Specialty: Is the agent equipped to sell your condo that might foreclose soon? What are the different properties that the agent has sold in the past?
- Technology: Which tech tools does this seller agent use? Are they providing virtual full service with a 100% online platform or not?
- Negotiation Skills: What are past customers saying about the agent’s communication and negotiation skills?
Frequently Asked Questions
Can I sell my house without an agent?
Yes, you can sell your house by owner. Just opt for a flat fee MLS service and list your property on the MLS by yourself!
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