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Simple English definitions for legal terms
listing agent
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A quick definition of listing agent:
A listing agent is a person who works for a real estate broker and helps the owner of a property to sell it. They get an agreement from the owner to list the property for sale and find potential buyers. They are different from selling agents who work with buyers to find a property to purchase.
A more thorough explanation:
A listing agent is a representative of a real estate broker who obtains a listing agreement with the owner of a property. The listing agreement gives the agent the right to market and sell the property on behalf of the owner.
For example, if you want to sell your house, you would hire a listing agent to help you. The agent would take pictures of your house, create a listing, and market it to potential buyers. They would also handle negotiations and paperwork if someone wants to buy your house.
Another example is if a commercial property owner wants to lease their space. They would hire a listing agent to find potential tenants, show the property, and negotiate lease terms.
Listing agents are important because they help property owners sell or lease their properties quickly and efficiently. They have the knowledge and experience to market the property effectively and handle all the details of the transaction.