Listing agents have to be responsible for locating homeowners who are thinking about selling by prospecting FSBOs, expireds, sending postcards, and doing advertising. After this is done, listing agents then need to prepare a CMA, do all the paperwork, and get the seller to agree to list with them through a listing presentation. Then, the agent has to spend 3-6 months helping that homeowner through the process - holding their hand, giving them advice, helping them with advertising and promotion, and then negotiating the sale through closing.
A buyer's agent, on the other hand, may also need to prospect listings by doing door knocks or cold calls. They will often get leads from the broker or their sphere of influence. Once they have a buyer, they meet with that buyer, do research on properties for that buyer, do showings, and follow up. Then, it's the buyer's agent's duty to write up a contract, negotiate the contract, go through all the inspections, and ensure there is a smooth closing.
Generally speaking, the personality traits of a listing agent are:
- They are a 'take charge' person
- They are empathetic, but decisive and knowledgeable
- Make homeowners feel comfortable by being confident
Traits of a buyer's agent are:
- A people person
- A very good listener
- Adaptable and flexible
Which one is right for you? It depends on your personality! If you're interested in further reading, check out this incredible write up by Bernice Ross. In it, she summarizes Mike Ferry's thoughts on the differences between buyer's agents and listing specialists.
If you would like to further explore what type of agent you want to be, don't hesitate to reach out to us! We want to help you get your career off to a quick start!
