Representation | Can represent either the seller, the buyer, or both in a transaction. When working for the seller, they are often referred to as listing agents, focusing on marketing and selling the property. | Exclusively represents the buyer's interests in a real estate transaction, ensuring the buyer gets the best possible terms. |
---|
Responsibilities | For sellers, responsibilities include listing the property, marketing it, and negotiating with buyers. For buyers, finding suitable properties, arranging viewings, and negotiating offers. | Specifically focuses on finding properties that match the buyer's criteria, advising on the offer, negotiating purchase terms, and assisting through the closing process. |
---|
Client Focus | Their client focus shifts based on whom they are representing in the transaction – can be seller-focused or buyer-focused. | Solely focused on the buyer’s needs and interests throughout the entire buying process. |
---|
Language | The language and communication style may vary significantly depending on the agent's profile, expertise, and the demographics they primarily serve. | Demonstrates proficiency in both the local language and the language spoken by the buyer to ensure clear, effective communication throughout the buying process. |
---|
Negotiation | When representing the seller, the real estate agent's primary goal in negotiations is to secure the best possible terms for the sale of the property. | Focused solely on negotiating for the buyer's benefits, the buyer’s agent aims to obtain the most favorable purchase terms for their client. |
---|
Documentation | Handles all relevant documentation, whether for listing, buying, selling, or leasing properties. This includes contracts, disclosures, and negotiation documentation. | Primarily deals with purchase offers, buyer-specific documents like pre-approval letters, and documents related to the buying process. |
---|
Commission | Commission is typically paid by the seller and then split between the listing (seller’s) agent and the buyer’s agent as per the agreement made in the listing contract. | A buyer’s agent might be directly compensated by the buyer, especially in buyer’s broker agreements that stipulate such an arrangement. |
---|