About the Author

Author: Justin Nabity

Last updated: January 21, 2025

Real Estate

Listing Agent vs. Selling Agent: What’s the Difference?

Behind every smooth transition in life—including stepping into your dream home—lies a very important, often-overlooked aspect: choosing the right experts to help with the process.

Understanding the roles of listing and selling agents is the foundation of buying or selling high-value properties.

Each professional is responsible for protecting your personal and financial interests, especially in a market where mistakes can cost tens of thousands or more.

Below, we’ll break down the differences, responsibilities, advantages, and qualities of listing and selling agents.

With this knowledge, you’ll be well-prepared to make informed decisions in selling a property or hunting for your dream home.

Key Takeaways

  • Listing agents represent sellers, handle pricing, marketing, and negotiating favorable deals.
  • Selling agents represent buyers, find properties, analyze value, and negotiate terms.
  • Physicians should seek agents experienced with high-value transactions and unique needs.
  • Vetting agents, reviewing contracts, and avoiding dual agency protects financial interests.

Understanding Real Estate Basics

Real Estate Agents: Who Are They?

Real estate agents are licensed professionals trained to facilitate property transactions. They act as intermediaries between buyers and sellers who, beyond showing homes and writing offers, negotiate, analyze the market, and advise their clients.

To be considered real estate professionals and operate, agents must pass state-specific licensing exams and test their knowledge of real estate laws, ethics, and practices, as mandated by their licensing authorities. In the U.S., some of the requirements include, but aren’t limited to:

  • Being at least 18 or 19 years old, depending on the state;
  • Being a legal U.S. resident;
  • Completing pre-licensing education (40 to over 100 hours, state-specific);
  • Passing the state licensing exam;
  • Finding a sponsoring broker;
  • Having your application accepted and passing a background check, and
  • Obtaining continuing education.

Though these requirements might seem stringent compared to those enacted in other parts of the world, everything they learn during the process of becoming a licensed real estate agent prepares these professionals to handle complex, high-value transactions.

Listing Agents and Selling Agents: What Is the Difference?

The terms “listing” and “selling” agents can be puzzling for most homeowners. Here’s a succinct distinction between the two:

Listing Agents

Listing agents work for and represent the seller. The key term is “listing,” i.e., posting the property on various online platforms.

A seller’s agent’s job is to market the property, attract buyers, negotiate instead of the seller, and try to secure the best possible price and terms.

They analyze the market to determine the pricing strategies, bring potential buyers for showings, and create attractive listings on platforms such as Zillow and Realtor to promote the property.

Selling Agents

Despite the name, selling agents work for and represent the buyer—they’re also known as the “buyer’s agent.”

Their responsibility is to find properties that match their client’s criteria and expectations, whether in terms of features or price. Once they find a suitable property, they negotiate on behalf of the buyer, scrutinize the fine print, and ensure the transaction is completed smoothly.

Real Estate Agents: Why Physicians Should Care?

Physicians often own homes valued between $400,000 and $600,000 in over half the states, with their properties averaging 40% to 60% higher than those of the typical homebuyer. This stresses the importance of informed decision-making when buying or selling real estate.

High-value homes come with higher stakes. They demand detailed market research and negotiation expertise. Without the guidance of a professional listing or selling agent, you’ll face risks such as:

  • Underrepresentation, where your agent’s lack of experience or knowledge leads to missed red flags, ineffective negotiation, or poor decision-making, causing you to overpay for or purchase an unsuitable property.
  • Misrepresentation, where your agent inaccurately presents information or doesn’t fully understand the luxury market, causing them to undervalue your property, market it poorly, or provide incorrect information, all of which lead to substantial financial losses.

These risks are also present if you try to engage in property transactions by yourself. Partner with agents who specialize in high-value transactions to protect your investments and meet your real estate goals efficiently.

Real Estate Agents: Listing Agents

So far, we’ve had a brief look at what listing and selling agents do. Let’s outline their responsibilities, ideal traits, and how you can benefit from them.

Responsibilities of a Listing Agent

Price-Setting

The listing agent’s first task is to determine a competitive yet profitable price for your property. They perform a comprehensive market analysis and compare your home to similar properties in the area (comparables).

High earners tend to have a knack for custom features, unique design choices, and amenities that don’t appear in standard market comparisons, such as wine cellars and personal gyms. These are the elements listing agents emphasize, as general features are a given in the luxury market.

Ideally, they should price your home at a point that would keep you profitable without deterring potential buyers.

Marketing Expertise

It’s a requirement for listing agents to be marketing experts. That’s how they attract affluent buyers. Some of the strategies they employ to showcase your home’s best features include:

  • Hosting virtual tours,
  • Staging,
  • Relying on professional photography,
  • Leveraging social media,
  • Utilizing exclusive networks, and
  • Listing on real estate platforms with compelling descriptions.

They may also manage open houses and, occasionally, stage them. A 2021 survey showed that staged homes sell for an average of $40,000 more than unstaged homes.

Managing Offers

Once offers start coming in, a listing agent’s expertise becomes indispensable to filtering out unserious buyers, helping you evaluate key terms, and ensuring the offers are reasonable and as close to your expectations as possible.

Since they expect buyers to negotiate, they’re ready to advise on counteroffers to secure the most favorable deal, accounting for the contingencies and financing conditions involved in luxury real estate sales.

Ideal Traits of a Listing Agent

For physicians selling high-value homes, it’s best to hunt for agents with the following traits:

  • Luxury market experience, to ensure that they’re familiar with pricing, marketing, and negotiating for high-value properties. Properties sold by veteran agents tend to sell for 10% more and 32% faster than those sold by rookie agents.
  • Strong negotiation skills, to guarantee that any counteroffers they make go seamlessly, fall into your ballpark, and maximize your profits.
  • Exclusive connections, to increase the likelihood of attracting the right buyer at the right price.
  • Attention to detail, so that they can market your home effectively by creating a description that appeals to prospective buyers.
  • Communication skills, to ensure that you’re both on the right page and that your requirements and expectations are met.

Real Estate Agents: Selling Agents

A selling agent represents the buyer’s interest and ensures they find and secure the perfect property.

Responsibilities of a Selling Agent

As a physician, it’s likely that your priorities include privacy, proximity to hospitals, and specific features.

Identifying Properties

A selling agent’s primary responsibility is identifying properties. Their expertise can make all the difference in finding a home that matches your preferences and lifestyle, as they can:

  • Access exclusive listings that are only available through private networks and connections, not listed on online platforms.
  • Understand your specific needs and tailor the search accordingly, be it by focusing on properties that include a home office, have high-security systems, or are close to schools or hospitals.

Advising Buyers

Buying a property, especially as a physician, is a huge investment. Selling agents step in and, with their careful scrutiny and attention to detail, ensure that your money doesn’t go to waste. They guide you by:

  • Inspecting potential buys to ensure they meet the safety and quality standards you seek while pointing out any potential issues, and
  • Analyzing the comparables and confirming whether the price reflects the true value of the property based on its location, features, and condition.

Negotiating Terms

Selling agents can negotiate on your behalf to try to match the purchase price with the market value and potentially save you tens of thousands of dollars.

A 2024 report showed that 46% of buyers felt that their agent helped them negotiate better sales contract terms, and 33% felt their agent helped them negotiate a better price.

They can also advise on contingencies, such as home inspection results and financing approvals, and manage closing timelines to fit your busy schedule.

Ideal Traits of a Selling Agent

Selling agents should share the same traits listing agents do; they must be familiar with luxury properties, have strong market knowledge to offer valuable insights, and be great negotiators.

However, it’s best to find a selling agent who is also:

  • Patient and discrete, as buying a dream home can take time and the last thing you need is an agent rushing you into making a decision you’re not confident in.
  • Understanding of physician-specific needs, as only they can comprehend how your demanding schedules impact deadlines and how proximity to certain amenities or unique home features can enhance your well-being.

Tips for Selecting the Right Agent

Whether you’re selling a high-value property or looking for your dream home, it’s important to know how to choose the right agent. Here are a few tips:

Selling a Home

  • Seek agents with experience in high-net-worth transactions.
  • Ensure the agent you hire has a proven track record in handling high-value property sales.
  • Don’t take the agent’s word; confirm their credentials by asking for past performance. Focus on details such as pricing, time on the market, and marketing and negotiation strategies.
  • Discuss the agent’s specific strategy for selling your home, including the marketing strategies they’ll use, the pricing scheme, and the points of emphasis.
  • Ensure that the agent is objective, realistic, understanding, and patient.

Buying a Home

  • Look for agents who specialize in your desired area and have knowledge of high-value neighborhoods.
  • Vet your agent thoroughly to confirm their credentials and understanding of your needs.
  • Ensure that they’re great communicators and negotiators to stay ahead of your wants and potentially secure your future property at a competitive price.
  • Ensure that they’re patient—don’t settle for an agent who’ll rush you into making a decision you’re not confident in.

Common Mistakes to Avoid

Though you might have trusted personal relationships as a physician, it’s always good to pay attention to potential pitfalls when selling or buying a property or selecting an agent.

Relying on Friends or Family as Agents

It’s tempting to hire someone you know and trust, but real estate transactions involving high-value homes demand a level of skill and experience that only an agent specializing in that market can meet.

  • Prioritize professional expertise over personal relationships to avoid sacrificing valuable opportunities or negotiating power.

Skipping Due Diligence When Selecting an Agent

In a rush to buy or sell, you might inadvertently overlook thoroughly vetting your agent. If you don’t do your homework, you might risk working with an agent who lacks the skills, connections, or market knowledge to meet your needs.

  • Ask for referrals from fellow physicians, check online reviews, and request details on past transactions. Pay attention to any red flags—a good agent should be transparent about their experience and strategy for handling high-value real estate transactions.
  • Ensure the agent’s communication style aligns with your preferences and schedule.
  • Confirm that the agent is realistic and objective and relies on data-driven pricing strategies; they shouldn’t simply tell you what you want to hear.

Ignoring Contract Details

Disputes or financial losses are often the result of signing agreements without thoroughly reviewing terms like commission percentages, exclusivity clauses, or termination policies.

  • Always read contracts carefully before you sign them. Ideally, consult with a real estate attorney.

Frequently Asked Questions

Can One Agent Represent Both the Buyer and Seller?

Yes, this is known as a dual agency; the agent represents both the buyer and the seller. However, it’s illegal (or heavily restricted) in eight U.S. states. Having dedicated representation is safer.

How Are Listing and Selling Agents Paid?

Real estate agents take commissions, calculated as a percentage of the property’s final sale price. In most cases, the total commission (~5%) is split between the listing agent and the selling agent.

What Is the Difference Between a Realtor and a Real Estate Agent?

A real estate agent is a licensed professional authorized to facilitate real estate transactions. A Realtor® is a real estate agent who’s a member of the National Association of Realtors (NAR). They must adhere to a specific code of ethics and professional standards.

Make Your Next Move Effortless with Physicians Thrive!

Buying or selling homes is a monumental task that requires specialized expertise. The first step to protecting your personal and financial interests is understanding the roles selling and listing agents play in facilitating such transactions. But that doesn’t mean it should be a stressful task.

Physicians Thrive is ready to help. From finding your dream home to relocating or investing, we connect you with top agents and financial solutions designed for your lifestyle. Contact us today to make your next move as effortless as possible!

Leave a Comment