Buyers’ agent, sellers’ agent – what does it mean? In every Columbus, GA/Phenix City, AL area real estate transaction, the differences are easy to understand, right? Not quite. A potential linguistic trapdoor can lie right around the corner.
For openers, that sellers' agent may also be called the “listing agent” – both mean the same thing. The trapdoor is a further complication that comes into play once a contract is in place -- after which the buyer’s agent may also properly be called the “selling” agent!
The potential confusion between seller’s agent and selling agent doesn’t usually have much practical significance: after all, by then, everyone should know the cast of characters and who represents whom. But it can come into play if buyer or seller is not actually present here in the Columbus, GA/Phenix City, AL area to keep the names and duties sorted out -- but that’s rarely the case.
The “listing agent” is the person who lists the home for sale, has their sign in the yard, and represents the seller. So they are called the “seller’s agent” because they represent the seller. The “buyer’s agent” is the agent who represents the buyer, has shown the buyer potential homes, and has help the buyer write a contract on a property. The buyer’s agent is at times referred to as the “selling agent”.
What is significant is how the duties of each designated Columbus, GA/Phenix City, AL area agent differ in their obligation to you the seller (or you the buyer). Briefly, the buyers' agent helps prospective buyers find properties for sale, and the listing agent helps their home owning clients sell their Columbus, GA/Phenix City, AL area homes at the most favorable price as quickly as possible.
Both agents have a fiduciary duty to represent their clients’ best interests, which can differ markedly. Nonetheless, in transaction broker states, it is also possible for an individual agent to represent both sides, which carries a special designation known as ‘dual agency.’
Personally, I have found that being a listing agent in the Columbus, GA/Phenix City, AL area brings me many calls from future buyers who later become clients -- at which point I turn into a buyer’s agent, and after a contract is opened, the “selling agent”! Should you ever become confused (and now you can see how!), just ask your own agent to go over the differences for you. When you pick an agent whose knowledge and integrity are beyond question, he or she will be able to quickly clarify the representation.
If you’re considering selling or buying a home in the Columbus, GA area call me at 706-442-1084 or click here! It can make all the difference!
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