The difference between a buyer agent and a listing agent

A listing agent is a real estate agent who works with home sellers to list and sell their properties. A listing agent represents the seller and has fiduciary responsibility to the seller. Traditionally, this was how real estate sales were conducted -- a real estate agent would list a property for sell then attract buyers and attempt to sell them on the property.

Over a decade ago, now, it became apparent that buyers were at a disadvantage because they had to depend on the agent representing the seller, so some agents started offering buyer agent services to represent the buyers. Exclusive buyer agents work only with buyers and do not take listings, so there is never a conflict of interest.

The listing agent, when they put a home on the market for sale, offer to split their commision with any agent who brings a buyer, so when a buyer has buyer agent representation, the buyer doesn't have to pay out an extra amount to pay for the agent's services.

When I represent a buyer, I look for the homes that meet the buyer's criteria and then when we go out looking at homes, I look at each home from the eyes of the buyer -- what repairs does it need? Is it overpriced? How will it do when it's time to sell the home? What is the area like and what kind of changes are happening in the area that could affect home prices?

This is part of the value of having a buyer agent -- you have someone who knows the area and the market and is on your side. Plus, you develope a trusting relationship with the buyer agent and it's a more pleasant experience not having to talk with numerous listing agents who are trying to sell you on their listing.

In the next couple of days I will answer the most common questions asked about buyer agency.