The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
  • Building Wealth
  • Investing
  • Credit Scores
  • Student Loans
  • Paying for College
  • Saving Money
  • Real Estate
  • Credit Card Debt
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
No Result
View All Result
The Money Coach
No Result
View All Result

Buyer’s Agent vs Listing Agent

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Real Estate
Reading Time: 2 mins read
buyer's agent
9
SHARES
151
VIEWS
Share on FacebookShare on Twitter

If you are shopping for a home, you should know the difference between a buyer’s agent and a listing agent.

A buyer’s agent, sometimes known as a “buyer’s broker,” works only for the home buyer, and is legally bound to represent the best interests of the buyer.

A listing agent is the agent who contracts with the home seller to get the home sold.

Although some people will buy homes from the listing agent of a home (say, you drove past a home for sale and called the agent on the for sale sign, or you went to an Open House and later enlisted that agent when you put in your offer.

More than likely you were dealing with the listing agent), you’re better served if you use a buyer’s agent when purchasing.

The job of a listing agent is to get the best deal for their client, the seller.

However, the job of a buyer’s agent is to represent the buyer and get them the best deal on the home.

Accreditation Matters

Realtors who specialize in representing buyers often have the ABR (Accredited Buyer Representative) designation after their name.

The accreditation means they have taken advanced training in negotiation and have completed at least five transactions in which they served solely as a buyer’s agent.

You can find a list of buyer’s agents on the website of the Real Estate Buyer’s Agent Council, rebac.net.

A buyer’s agent will often have you sign a contract to work with them exclusively for a certain period of time.

Realize some of those contracts say that they will get paid a certain percentage of the sale price of the home you buy.

Typically, their payment will come from the seller, but know that some contracts say that even if you buy from a For Sale By Owner, or your friend, who was not listed on the Multiple Listing Service, you will still owe the agent a commission.

Tip: Have the contract limit the agreement to homes for sale in the MLS, or only by sellers under agent representation, given that many FSBOs might still pay a listing service to put their home on the MLS.

Tags: Buyers agentlisting agent
Previous Post

5 Tips for Wheeling & Dealing in a Buyer’s Market

Next Post

Avoid Dual and Designated Agents

Related Articles

buy a house
Covid-19

Should I Still Buy a Home During the Coronavirus Pandemic?

by Lynnette Khalfani-Cox, The Money Coach
Couple celebrates after buying their first home because they followed a home buying guide
Real Estate

3 Home Buying Hacks to Buy a House in 2020

by Guest Blogger
AskTheMoneyCoach- HELOC
Loans

Is a HELOC Right for You? Pros, Cons, and Considerations to Make

by Guest Blogger
homeownership
Real Estate

Hidden Costs of Owning a Home

by Lynnette Khalfani-Cox, The Money Coach
Lynnette Khalfani-Cox - Homeownership Smarts
Real Estate

Are You Ready for Homeownership?

by Lynnette Khalfani-Cox, The Money Coach
tiny home
Real Estate

Should You Downsize to a Tiny Home?

by Lynnette Khalfani-Cox, The Money Coach
selling your home
Real Estate

5 Tips to Save Money When Selling Your Home

by Guest Blogger
mortgage terms
Real Estate

5 Confusing Mortgage Terms Explained

by Lynnette Khalfani-Cox, The Money Coach
Lynnette Khalfani-Cox
Real Estate

Video: Risk of Buying Real Estate for a Tax Purpose

by Lynnette Khalfani-Cox, The Money Coach
Next Post
dual agents

Avoid Dual and Designated Agents

About

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.

Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.

Quick Links

  • Money Coach University
  • Lynnette's Personal Site
  • The Money Coach Corporate Site
  • Video Portfolio
  • Privacy Policy

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2022 TheMoneyCoach.net, LLC. All Rights Reserved.

No Result
View All Result
  • Meet Lynnette
  • Money Coach University™
  • Books
  • Financial Coaching
  • Speaking
  • The Money Coach Recommends™
  • Media Kit
  • Contact

©2009-2021 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist