What Is a Listing Broker?

A listing broker or listing agent is a real estate professional who assists homeowners with lജisting and marketing their home for sale. A listing broker's duties include determining an appropriate price for the home, establishing a listing, and holding open houses for prospective buyers. They also work with the buyer’s agent—also referred to, oddly enough, as the selling agent—to coordinate t﷽he sale of the home.

Duties and Responsibilities of Listing Brokers

To understand listing brokers, it’s helpful to first review the difference between a 澳洲幸运5官方开奖结果体彩网:real estate agent and a real estate broker. An agent is licensed by their state to help people buy and sell different types of property. A real estate broker is an agent who has received an additional broker’s license. In general, brokers have more in-depth knowledge of the real estate market and the various financial and legal processes involved in selling and buying properties. They may be able to recommend 澳洲幸运5官方开奖结果体彩网:mortgage lenders as well.

A listing broker assists property owners with listing, marketing, and selling their property. This can be a residential property, such as a primary residence or vacation home, but listing brokerဣs can also work with commercial property owners. Listing brokers help the seller with a variety of tasks, including:

• Staging the property for sale
• Hiring someone to photograph the home
• Determining an appropriate sale price for the property
• Establishing a listing for the home through a 澳洲幸运5官方开奖结果体彩网:multiple listing service (MLS)
• Scheduling and holding open houses
• Negotiating offers with the buyer’s agent

Once a property is listed, the listing broker is responsible for fielding offers from buyers. The broker can work with the seller to vet offers and determine whether to accept, make a 澳洲幸运5官方开奖结果体彩网:counteroffer, or reject based on the offered price or other factors, such as whether they’re 澳洲幸运5官方开奖结果体彩网:pre-approved for a mortgage.

Listing Broker vs. Selling Agent

Just as the seller in a real estate transaction may be represented by a broker, so may the buyer. Eighty-eight percent of people who bought a home in 2024 did so with the help of a real estate agent or broker.

The buyer’s agent is also referred to as the selling agent once an offer has been accepted and a property is under contract. Note that the terms "seller's agent" and "selling agent" mean two different things and actually point to two different individuals. In terms of what a buyer’s agent (i.e. the selling agent) does, the list includes:

• Helping buyers identify properties that may fit their needs and budget
• Contacting the listing agent to schedule a showing
• Drafting an offer and forwarding it to the seller’s agent
• Walking the buyer through the remaining steps of the home-buying process once an offer is accepted

The selling agent can also communicate with the listing broker if issues arise during the home-buying process. For example, if the home inspection reveals one or more structural issues, the buyer’s agent can reach out to the seller’s agent to discuss whether the seller will make any necessary repairs themselves or offer a concession for them.

Listing Broker Qualifications

When looking for a listing broker, consider the fo﷽llowing qualifications that 🔴may substantiate whether or not an individual is suitable to list your home.

• Real Estate License: The listed broker should have an active license to practice real estate in the state or region where they conduct business. This license demonstrates that the holder has successfully completed the appropriate coursework and examinations to engage in real estate brokerage activities.
• Realtor Designation: Real estate professionals who are members of the National Association of Realtors are qualified to use the Realtor moniker. Realtors must abide by a rigorous code of conduct and have access to supplementary materials and networking opportunities.
• Professional Distinctions: Some listing brokers may have extra qualifications or distinctions to demonstrate their knowledge in specialized areas of real estate. These certifications and designations are known as "professional designations." For instance, those who earn the Certified Residential Specialist title have demonstrated a high level of expertise in residential real estate.
• Local Market Expertise: An excellent listing broker has to have a solid comprehension of the local real estate market. They should be knowledgeable about the most current sales trends, property values, the dynamics of the surrounding area, and any other essential elements that can influence the sale of your house.
• Good Reputation and References: Investigating the listing broker's reputation and requesting references from previous customers is important. Online evaluations, testimonials, and word-of-mouth referrals can reveal the level of professionalism, communication abilities, and quality of work a broker maintains.

Listing Broker Compensation

Listing brokers and agents are 澳洲幸运5官方开奖结果体彩网:paid a fee for assisting a seller, though they’re typically paid only if the sale is completed. Traditionally, a typical commission associated with the sale of a home is around 6% of the home’s sale price. This commission is split equally between the listing broker or agent and the buyer’s or selling agent, although the National Association of Realtors insists that the commission is negotiable.

The seller of the home usually pays real estate co﷽mmissions out of the proceeds of the sale. For example, say you owe $200,000 on your home. Your listing agent is able to sell it for $400,000, resulting in a $200,000 profit to you. If you assume a 6% commission rate, then you would need to pay $24,000 in commissions ($400,000 × 0.06). Of that amount, $12,000 would go to the listing broker or listing agent, and $12,000 would go to the buyer’s agent. Your net profit would be $176,000 ($200,000 - $24,000).

There are some situations, however, in which a listing broker might be able to collect both commissions. Specifically, they can do so if they’re acting as a 澳洲幸运5官方开奖结果体彩网:dual agent. A dual agent in real estate represents both the property's buyer and seller. Dual agency is not allowed in all states, and when it is permitted, the agent must adhere to a fiduciary duty when acting on behalf of the buyer and the seller.

The Bottom Line

A listing broker 𒀰can make selling a home easier, though hiring one isn’t necessary for property owners who are comfortable selling on their own. Consider their track record, reputation, and overall expertise when working with a listing broker or agent. It can also be helpful to ask how often they’ll communicate with you while selling your home and how they prefer to communicate. This can give you an idea of what to expect when you’re wo🐽rking with them to sell your home.

Finally, you can review the best real estate websites🍰 to see how much homes like yours are selling for in your area when deciding how much to list your property for.