What is a listing agent? The real estate agent who represents the seller: prices and markets the home, negotiates for the seller, and owes the seller, not the buyer, their loyalty.
The listing agent signs a listing agreement with the seller, puts the home on the MLS, prices it, arranges photographs and showings, presents offers, and negotiates on the seller's behalf. Their fiduciary duty runs to the seller: they must get the seller the best terms, keep the seller's confidences, and disclose to the seller anything they learn about a buyer's position. A buyer who tells the listing agent their maximum has told the seller.
Their fee is set in the listing agreement, typically two to three percent of the price, paid by the seller from the proceeds at closing. Since the 2024 commission settlement the listing agent no longer sets what the buyer's agent is paid; the seller decides whether to offer a concession toward it, and the buyer negotiates their own agent's fee.
A buyer can buy through the listing agent without their own representation. In some states that makes the agent a dual agent or a transaction broker with duties to both, disclosed in writing; Nevada allows it with a signed consent. It saves nobody money by default and it leaves the buyer without an advocate in the negotiation.
A worked example
A seller signs a listing agreement at 2.5 percent. On a $500,000 sale the listing agent's brokerage receives $12,500 at closing from the seller's proceeds. Whether the buyer's agent receives anything from the seller is a separate line in the same contract, and since 2024 it is the seller's decision.
What your home would list for, before you hire one
Questions people ask
Can I contact the listing agent directly as a buyer?
Yes. They must present your offer. They also represent the seller, so anything you tell them about your budget or your motivation reaches the seller.
Is the listing agent the same as the seller's agent?
Yes, two names for the agent representing the seller. The buyer's agent, or selling agent in older usage, represents the buyer, which is why the older term confuses everyone.