When entering the real estate market, it is important to understand the roles of both buyers agents and sellers agents. These professionals play a crucial role in facilitating the buying and selling of properties, but they serve different clients and have different responsibilities. Understanding the differences between the two can help both buyers and sellers navigate the real estate process more effectively.
Who do they represent?
Buyers agents represent the interests of the homebuyer. They work to find properties that meet the buyer’s criteria, negotiate the purchase price, and guide the buyer through the entire process. Sellers agents, on the other hand, represent the interests of the home seller. They work to market the property, find potential buyers, and negotiate the sale on behalf of the seller.
What are their responsibilities?
Buyers agents are responsible for understanding the wants and needs of their clients, researching properties, arranging viewings, and helping buyers make informed decisions. They also provide guidance on the purchase process, from making offers to closing the deal. On the other hand, sellers agents are responsible for marketing the property, coordinating showings, negotiating offers, and navigating the selling process, including inspections and closing.
How are they compensated?
Sellers agents negotiate with the seller on their commission that is usually a percentage of the final sales price of the property. Then the sellers agent will usually share the commission with a buyers agent if they bring a successful buyer.
The buyer typically doesn’t have to pay a buyers agent, unless there are prior arrangements created between the buyer and the buyers agent.
Whose interests do they prioritize?
Buyers agents prioritize the interests of the homebuyer, working to secure the best possible deal for their client. They provide support and guidance throughout the home buying process and advocate for the buyer’s best interests. Sellers agents, on the other hand, prioritize the interests of the home seller, working to sell the property for the best possible price and in a timely manner.
How do they add value?
Buyers agents add value by helping buyers find the right property, negotiating the best deal, and providing expert guidance throughout the home buying process. Sellers agents add value by marketing the property effectively, negotiating offers, and navigating the selling process on behalf of the seller.
Buyers agents and sellers agents play distinct roles in the real estate process, representing and advocating for their respective clients. Understanding the differences between the two can help buyers and sellers make informed decisions and navigate the real estate market with confidence. Whether buying or selling a property, enlisting the help of a knowledgeable and experienced agent can make a significant difference in the outcome of the transaction.
