To successfully complete a real estate transaction, you need support from a licensed realtor and a listing agent. And while both work in the real estate industry, there is a slight distinction between the two professions.
For instance, a realtor is a real estate agent who is a member of the National Association of Realtors (NAR). They are subject to and guided by the code of ethics that governs this professional body.
Listing agents, on the other hand, handle the entire sales process while representing the seller or the property owner. They typically work for or under realtors, but they can also work independently.
What do realtors do?
1. Code of ethics
Realtors abide by the NAR ethics that include but are not limited to:
Loyalty to clients
Honesty in advertisements and views on marketing platforms
Legal duties to clients
Cooperation with competitors
All this is aimed at giving clients the best services and limiting fraud. The code also ensures fair sales prices and legal deals for both buyers and sellers.
2. Marketing property
The main business taking place in the real estate industry is to identify properties and link them to potential buyers. They make the service easier for both parties, and with valuable expertise in this field, ensure the best property values for owners and the best deals for buyers.
3. Top-notch negotiation
The real estate language and the comparative market analysis are not designed for the layperson. To fill the gap, realtors act as intermediaries on both sides to ensure sales are at par with the industry expectations. A licensed realtor is also the best party to win buyers’ trust during negotiations.
What do listing agents do?
1. Representing sellers
Listing agents, also known as seller’s agents, help sellers through the transaction process. They give advice to property owners regarding adjustments that should be made to their property before it is listed for sale.
Working with designers among other players in the field helps them ensure that properties attract the best value when put on the market. It’s also within their purview to help sellers eliminate all possible mistakes that could arise before finalizing values.
2. Price properties based on market competition
Seller’s agents analyze the market prospects and scale your property based on the current valuation of similar properties. The analysis is to ensure properties are rated correctly to avoid underpricing or overpricing
3. Marketing and online listing
Listing agents market your property on all viable online platforms possible, including their blogs and social media platforms, to ensure exposure and competitive prices. Marketing also involves sales materials such as mailers and fliers to escalate market awareness.
4. Planning property tours
One way of landing the best listing agent is by looking at their reach. In this case, local is better. Why? After listing the property they will hold open houses and guide buyers during the tour. With stellar knowledge of the area, a local agent is able to personalize the viewing without resorting to upselling the neighborhood.
5. Intelligent negotiations
Listing agents navigate through the terms and pricing of the property as they answer possible questions that can pop up during the sale process. The service includes ensuring business is done legally and the paperwork is proper.