Buyers agent vs seller's agent

It wasn't till the other day that I realized that people, buyers and sellers, don't really know the differences in the buying and selling agents when it comes to real estate transactions. 

Before I started working in real estate I never thought twice about a buyer’s agent vs. a sellers agent. I always thought of Realtors as just real estate agents.

Depending on what side of the real estate transaction we represent for you, depends if we are the buyer’s agent, or the sellers agent. Many agent work solely as a buyer’s agent or buyer’s representative, most of these individuals work in real estate teams, with the lead agent taking care of all the selling transaction sides. Seller agent only rarely happens unless the above situation is true where a team has a lead agent. Most Realtors are both buyer and seller representatives. Really the paperwork is identical and the overall process is very similar from our stand point, but will feel a lot different from yours  

Sellers agents are paid by the seller, the general break down of their job is to realize the seller has a need or a motivation to move. The next step in the process is that the agent pulls a report of comparable home in the neighborhood and surrounding areas that are actually comparable. A comparable home needs to be within 10 years plus or minus the age of the home, the square footage within a few hundred feet, plus or minus a bedroom, plus or minus one bathroom, and structural  style of the home i.e. 2 story vs 2 story, rambler vs rambler. 

The next step is to agree on a selling price, this is a great time to start staging your home. In a few short weeks, as long as your home is priced properly, you will be moving. Start cleaning the house, so we can take plenty of quality photos. Before you know it your home will be under contract, inspections will happen, then settlement (signing the documents) and closing, when the property funds and records. 

I think for the most part people understand the selling process. Originally there was no such thing as a buyer’s agent. You would list your property with a selling agent, and if you had a good agent they would bring buyers into your home and eventually your home would sell.  This is when the buyer’s agent came into the picture; long story short agent didn't want to work with buyers, because the agent didn't get paid, if the buyer bought someone else's listing. Agents started negotiating with each out and forming partnerships that they would split the commission if they sold each other listing, making teams, giving the buyers more options. 

Today buyer agents are still paid by the seller. I know it's kind of weird but that's how it works. So, if you want to buy a house, you don't have to pay your agent, and about half the time the seller pays all of the closing cost getting you a house for nearly nothing but a 30 year note and a little bit of time. You as a buyer are in charge of paying for the home inspection (if you choose to get one) and appraisal up front; it eventually gets tied into the loan. 

Long story short we are all just real estate agents with lots of different hats on!