Listing Agent, Selling Agent, and Seller’s Agent in New Jersey – Are They Different?

Buying or selling a home in New Jersey is a complicated process involving a number of lengthy steps, including different terms people use to refer to a real estate agent in New Jersey. Along the way, you’ll interact with several different agents and other professionals. It can be confusing to keep track of which person handles which task, but knowing the right person to contact for each step will help you approach the sale with confidence.

Two of the key players when buying or selling a home in New Jersey are the listing agent, also known as the seller’s agent, and the selling agent. You should understand the difference between these agents’ tasks and responsibilities so that you know what to expect as you get ready to sell or buy a house with a real estate agent in New Jersey.

What Is a Listing Agent

What Is a Listing Agent?

A listing or seller’s agent is a real estate agent in New Jersey who helps homeowners sell their homes. The responsibilities involved with selling a house are mostly separate from the responsibilities involved with purchasing one, so the day-to-day workflow of a Realtor acting as a listing agent will look different than when they’re acting as a selling agent.

The following are the major tasks that listing agents handle when helping homeowners list and sell their houses:

Writing the Listing Agreement

Preparing the New Jersey Listing Agreement

The New Jersey listing agreement is the contract between the homeowner and the listing agent that authorizes the agent to sell the property. It outlines the agent’s commission and the responsibilities they will take care of throughout the process. Before your listing agent officially starts their work, they will draft up the listing agreement with your input. Then, you’ll both sign it and get ready to list your home.

Completing the CMA and Pricing the Home

Completing the CMA and Pricing the Home

Because the real estate market is in constant fluctuation, pricing your home can be a complicated endeavor. However, your listing agent has the knowledge and resources to calculate an accurate price for your home in the current market. They’ll complete a comparative market analysis, or CMA, which will help them determine a fair price for your home based on similar properties in the area.

Marketing the Home

Marketing the Home

Attracting buyers is one of your listing agent’s most important jobs. All agents in New Jersey have different methods for preparing a house for the market, and some may be more involved than others in staging or upgrading your home for showings. They should hire a photographer to take high-quality photos of the interior and exterior of your home to create an appealing listing, and they should be marketing the home both online and offline to attract the best buyers.

Negotiating and Closing the Sale

Negotiating and Closing the Sale in New Jersey

A New Jersey listing agent should be an expert on negotiating home sales. They should know what a reasonable offer is for your neighborhood, and they should be able to negotiate effectively without losing out on an offer. Once you’re ready to accept an offer, your Realtor will walk you through the closing process and will assist you in gathering the documentation needed to follow through with the sale.

What Is a Selling Agent

What Is a Selling Agent in New Jersey?

A selling agent, also known as a buyers agent,  is a real estate agent in New Jersey who helps people find and purchase homes. They work with buyers from the early stages of the process until they’ve closed on their new house.

Here are the main responsibilities of a selling or buyers agent:

Finding Homes That Meet the Buyer's Criteria

Finding New Jersey Homes That Meet the Buyer’s Criteria

Almost all home buyers have a general idea of what they’re looking for in a house. You may not have a highly specific vision for your new home, but you probably have some criteria regarding the property’s location and size. Your selling agent has access to multiple listing services, which include detailed information about available homes in your area. A good buyers agent may also have information of possible off market properties that may be available for purchase. Based on your criteria, they will narrow down the search and find New Jersey houses that best fit your needs.

Touring Homes With Buyers

Touring Homes With New Jersey Buyers

Either your selling agent or their assistant will be accompanying you to all homes you visit. They’re the New Jersey real estate experts, so they’ll offer valuable information and advice while you evaluate the homes. Often times, selling agents point out red flags in properties that prospective buyers don’t notice on their own. They can also point out the favorable qualities in a house that may go overlooked by the layperson.

Making and Negotiating Offers

Presenting and Negotiating Offers

Like listing agents, good selling agents are experts at negotiating. Your selling agent can help you get the best deal on a New Jersey property by making an offer that’s appealing to the seller yet not excessive. If you end up in a bidding war with another buyer, your agent will help you navigate the process, and they’ll advise you when it’s time to move on and search for another home.

Connecting the Buyer With Other Professionals

Connecting the Buyer With Other Professionals

As you prepare to close on a new home in New Jersey, you’ll have to get in touch with several other professionals in the area. You’ll work with a mortgage lender to secure the home loan, a NJ home inspector to check for problems with the property, a title company, and other entities. Your selling agent is closely familiar with all of the steps that go into buying a house, and they probably know the best people in your area to work with. They can connect you with everyone you need to communicate with, which helps to streamline the New Jersey home sales process.

dual agency

Dual Agency in New Jersey

In rare cases, one real estate agent in New Jersey acts as the listing agent and the selling agent for a home sale. Known as dual agency, this can make the experience faster and easier for both the buyer and seller. Just know that the agent cannot divulge any confidential information from one side to the other, but can still help each side negotiate accordingly.

The selling agent and listing agent both play key roles in the sale of a New Jersey home, but their responsibilities differ greatly. Both strive to make the experience as easy as possible for New Jersey homeowners and home buyers, and both try to get the best possible deals for their clients. Some Realtors primarily work as one type of agent, and some offer both services. If you’re looking for a real estate agent to represent you when buying or selling a home in New Jersey, what’s most important is that you work with someone you trust and feel comfortable with.