The Difference Between a Listing Agent and a Selling Agent . . . Random Thoughts from a Portland Buyers Agent

By
Real Estate Broker Owner with BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time Licensed State of Oregon
http://actvra.in/jHy

I read an article this afternoon which confused even me. 

The article was in the New York Times real estate section online.  The Buddy System or the Buyer's Broker is a good article about buyers, renters, investor being better served when having their on Buyer's Agent.

As an Exclusive Buyers Agent in Portland, I only work with Buyers in the Metro Portland real estate market.  So, in that regard, I couldn't agree more with the article's premise.

But this paragraph really confused me:

"Engaging a buyer’s agent later in the process opens up the potential for a dispute over whether the new hire is entitled to a portion of the selling agent’s commission. Also, by this point in the proceedings, a buyer may have chatted too much with the selling agent, revealing information that could influence the outcome of the deal."

When I represent a Portland Buyer in a real estate transaction . . . and I ALWAYS DO as an Exclusive Buyers Agent in Portland . . .  I AM the "SELLING AGENT"

The agent representing the Sellers is the LISTING AGENT.

Wouldn't the same paragraph READ better, and be better understood written as:

"Engaging a buyer’s agent later in the process opens up the potential for a dispute over whether the new hire is entitled to a portion of the selling agent’s listing agent's commission. Also, by this point in the proceedings, a buyer may have chatted too much with the selling agent listing agent revealing information that could influence the outcome of the deal."

I bring the Portland buyer to the property . . . I am the SELLING AGENT. 

Anyway . . . random thoughts from this Portland's Buyers Agent . . . who is NOT the listing agent.

Posted by

Buyer Focused ~ Buyer Results

 

Representing Buyers in the Portland Metro Real Estate Market | Clackamas Multnomah and Washington Counties | Since 1999

Carla Muss-Jacobs, REALTOR®, ABR, CEBA, ePro
Principal Broker/Owner

Direct: 503-810-7192 | BuyersAgentPortland.com | Carla@BuyersAgentPortland.com

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100% Buyer Representation ~ 100% of the Time

Isn't it time you had your own Exclusive Buyers Agent?

 

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Topic:
ActiveRain Community
Location:
Oregon Multnomah County Portland
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30 Days In September 2011 Localism Posting Challenge
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Diary of a Realtor
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Rainmaker
1,753,817
Gita Bantwal
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
RE/MAX Centre Realtors

Carla, Thank you for the great post. Buyers who do not understand buyer agency should read your post.

September 16, 2011 07:42 AM
Rainer
121,194
Melissa Stahl
Realtor, Exit Realty Capital Area
Central PA Realtor

I also read that article and completely agreed with it even the paragraph you pulled out.  I've bolded different words to help with a different perspective.  Looking at it from a potential Procuring Cause situation and buyer protection.  A lot of times a buyer goes and looks at a property either by calling the listing agent directly or at an open house and chats too much with the seller's agent leaving them less power to negotiate should they decide to write an offer.  

"Engaging a buyer’s agent later in the process opens up the potential for a dispute over whether the new hire is entitled to a portion of the selling agent’s commission. Also, by this point in the proceedings, a buyer may have chatted too much with the selling agent, revealing information that could influence the outcome of the deal."

The agent who helps the buyer determine they wish to purchase the property is the selling agent. If the buyer then goes and hires a buyer's agent to write a contract, that is where the dispute comes into play that I believe this author was referring to.

That is why it is so important we do all we can to educate the consumers in our areas before they even realize they need our services. 

Thank you for a great post! We need to get the word out to buyers. They need us before they start shopping.

September 16, 2011 08:26 AM
Rainmaker
179,517
Tatyana Makarov
Your Greater Hartford Area Realtor
Coldwell Banker Residential Brokerage

Hello Carla,

I did read that article as well... Thanks for your post. You clarified it all.

Have a great day.

September 16, 2011 12:16 PM
Ambassador
1,806,525
Chris Ann Cleland
Associate Broker, Northern VA
Long & Foster REALTORS®, Gainesville, VA

That is confusing.  Clearly the person who wrote the article is not well versed in the terminology of who's who in a transaction.

September 16, 2011 01:07 PM
Rainmaker
1,205,606
Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

Hi Joan . . . apparently, so is the reporter ;-)

Hey Nancy -- great way to say it!

Hi Praful . . . sometimes I call it the Daily Drip . . . LOL

Hey Phil -- exactly!!!!

Hi Brain . . . never heard that before, but a property that's listed certainly is "marketed."

Hey Dawn -- for the most part, whenever I read a real estate article by a reporter I find such glaring wholes.  :-(

Hi Cindy . . . thanks for rounding that out so nicely!  Well said!

Hey Tammy -- and when it's published in the New York times, HA HA HA

Hi Karen H . . . thank you for the re-blog!  And yes, Cindy is spot on.

Hey Karen C. -- I understand your point.  The article was confusing "selling agent" with "listing agent"  I don't think replaceing "buyer's agent" would have clarified it, but made it even more confusing.

Hi Andi . . . I am always amazed by the inept reporting skills when it comes anything to do with real estate.  Great comment.  Thanks.

Hey Jane -- our MLS desginates "S/Agent" at the bottom of the SOLDS.  This is for "Selling Agent" which is the one who brought in the buyer ;-)

Hi Gayle . . . the reporters "interview" people and misquote / misstate all the time.  By the time it's in print, might not be what anyone has said, only what the report heard. ;-)

Hey Allison -- the reporter doesn't have their email linked in the article :-(  Good suggestion though.

Hi Gita . . . absolutely! 

Hey Melissa -- The point of the article was to get the buyer's agent engaged (hired) prior to . . . I agree.  But the "selling agent" was confused with the "listing agent."

Hi Tatyana . . . thanks for the comment!

Hey Chris Ann -- you look stunning at 16!!  And clearly you're right!!

September 16, 2011 02:05 PM
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Rainmaker
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Carla Muss-Jacobs, Principal Broker/Owner

Buyer Focused ~ Buyer Results
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Additional Information

Author Bio: Carla Muss-Jacobs is the Principal Broker/Owner of Buyers Agent Portland, LLC an Exclusive Buyer Agency representing Buyers in the Portland Metro real estate market since 1999.

The Sellers have their own agent ~~ Why don't you have yours?  

Carla Muss-Jacobs practices the TRUE FORM of Buyer Agency ~~ Exclusive Buyer Agent.  Her office/brokerage never takes listings and never respresents the Seller.  Exclusive Buyer Agency is the BEST form of legal real estate representation a Buyer can have.  There is 100% Buyer Representation - !00% of the Time.  There are NO CONFLICTS OF INTEREST and there is no possibility of ever having YOUR Buyer Agency comprised.  When buying a house -- it's important to know who is working for you!!