Real Estate can be confusing for sellers and/or buyers. As a client, you may hear there are different types of agents and have no clue what this means. This can make it more confusing sometimes than just the basic home buying process. Let me explain it in easy terms…..In every transaction there is 2 sides to the deal.
The first part in a real estate is the listing. A client hires an agent to list the property on the market, this is your listing agent. This agent agrees to work exclsively for the seller and have the sellers best interest at heart during the entire transaction.
The second part is the offer/sale. The selling agent who is sometimes referred to as a buyers agent, handles communication for the buyer. The buyers agent helps the client view homes and write the offer to purchase that is presented to the seller. This agent should always be working for the buyer and have the buyers best interest in mind at all times.
Neither agent should disclose confidential information to the other agent or clients. Both agents are compensated by the seller at the closing for their services performed to both seller and buyer. The buyer does not pay their agent unless it’s a separate fee that is disclosed and executed by the buyer.