A real estate agent that works for a property seller is called a listing agent or a seller’s agent. They have a number of functions, but they can all be summed up in the fact that they are supposed to represent the best interests of the seller in all they do.
Knowing what listing agents do is quite beneficial, especially if you’re at the point of making a decision on whether or not to hire an agent to help sell your property.
This article will explain the functions a listing agent performs for a property seller.
Set a List Price
It is only logical to set a price for your property, one that you believe is worth the value of the property. Your listing agent would typically use a Comparative Market Analysis (CMA) to determine the list price of your house.
The list price would be based on an analysis of the local real estate market, its prevailing market dynamics and recent sales of the property in your area.
The last factor is perhaps the most important one. This is because the knowledge of the number of sales, the types of sales and the prices of the sales would greatly help in setting a list price for your own property.
List prices aren’t set in a vacuum or based on your emotional sentiment or your perception of the property. List prices are based strictly on getting you the most profit in a timely manner, and no one can help you better than your listing agent.
Market Your Property Effectively
There is no use having a property if no one has an idea that it’s for sale! Your listing agent uses their extensive network and expertise to ensuring that your property gets in front of potential buyers.
This is why they usually employ multiple listing services (MLS) to ensure that as many people as possible will see that your property is for sale.
Another way your listing agent can market your property is to let other agents know of the availability of your property for sale. This can be very useful, especially when an agent that knows about your property’s availability is able to get an interested buyer in for a showing.
Optimize the Property For Viewing
Real estate agents know what makes a property sell, especially when it comes to the property’s aesthetics. Thus, they know what needs to be done to prepare your property for viewing.
In this age of the digital world, where virtual tours are rapidly becoming the norm, it is important for every part of your property to look set for viewing. This is where an agent will most likely decide to hire a staging professional and professional photography.
Screen and Scrutinize Buyers
It is the job of your listing agent to interact with potential buyers and basically separate the tire kickers from the serious buyers.
Apart from this, it is also your listing agent’s duty to find out about the finances of a potential buyer, and if it would match up to the financial demands with regards to selling your property.
Closing the Deal
Once an arrangement is found with a buyer, closing the deal is the next thing to be done. Legal requirements that have to be satisfied will follow, and terms that suit you as a seller will be agreed.
Once the legal transfer of ownership of the property is complete, the property will be sold, and the end of your agreement with your listing agent will come, but keep them in mind for any future home endeavors or any questions that may arise after you move in.