We are continuing Learning the Lingo this week with Listing Agent. The listing agent is the real estate agent representing the seller in any real estate transaction. The listing agent’s responsibilities are below:
- Listing the property in the local MLS.
- Marketing the property to potential buyers and buyers’ agents.
- Fiduciary duties to the seller.
- Providing knowledge and experience to support appropriate price, showing techniques, and negotiation techniques.
The listing agent will meet with the seller and provide guidance on how to prepare the property for sale. At this meeting, usually a CMA or comparative market analysis is provided as to give the seller great information on how to price the home and what to expect relative to the market.
Once the home is prepared for sale, the listing agent will facilitate marketing via photo and videos and then list the property on the local MLS. From here, showings will be scheduled and offers received. Based previous planning with the seller, the listing agent will present the offers to the seller and negotiate on their behalf with the seller’s agent.
The listing agent will serve as the representative at all inspections, appraisals, and other pertinent tasks during the ratification process. They are the eyes and ears for the seller. Consistent and constant communication should be offered to the sellers.