Today I was put to the test. My oldest daughter and her new husband plan to sell their current home and buy a larger home. Not wanting to be an interfering mother I could have kept totally out of it. But no! That wouldn’t be right since I have professional knowledge to share. I enjoyed explaining the difference between buyer and seller representation and explained what a REALTOR will do for them.
Seller’s representative (also known as a listing agent or seller’s agent). A seller’s representative is hired by and represents the best interests of the seller. The relationship usually is created by a listing contract.
Buyer’s representative (also known as a buyer’s agent). This type of licensee is hired by prospective buyers to represent them in a real estate transaction. The buyer’s rep works in the buyers’ best interest throughout the transaction. The buyers can pay the licensee directly through a negotiated fee, or the buyers’ rep may be paid by the seller or by a commission split with the listing broker.
Most of us buy/sell only a few homes during our lifetime. How can we know all the important things a professional learns through study and experience? I’m happy I can share what I’ve learned with my daughter and others! Paying professionals to represent us is money saved in the long run.