There are many significant decisions you need to make as soon as you kickstart your real estate career. You need to decide which real estate brokerage in Mississauga to work for and which location you will specialise in. And you also need to figure out whether you’ll work with home-buying or selling clients.

We are sure most will recommend you to work with home sellers as much as you can. After all, there’s this saying that has been revolving around the real estate industry for decades, “if you want to earn a lot of money as a real estate agent, then you should be focusing on sellers and getting listings.”

Although this saying holds true in most cases, newbie agents need to know that they can enjoy serious benefits by working with homebuyers too. Let’s explore more about working as a listing agent vs. a buyer’s agent in detail below!

Basic Differences Between a Buyer's Agent and a Listing Agent

A listing agent works with a home seller and guides the client in getting the best possible price for their property.

Listings agents handle tasks such as:

• Research and analyse comparable properties in the area to find out a competitive price for the listing.

• Recommend minor improvements or staging techniques to enhance the property’s appeal to potential buyers.

• Create an attractive listing for the Multiple Listing Service (MLS) and other online platforms, featuring professional photos and detailed descriptions.

• Develop a marketing plan to promote the property through social media, yard signs, and open houses.

• Coordinate showings with the buyer’s agent and make sure the property is accessible for buyers on the decided dates and times.

• Negotiate the selling price, terms, and contingencies of the offer with the buyer’s agent, trying to get the most favourable outcome for the seller.

A buyer’s agent of a real estate brokerage, on the other hand, represents a homebuyer’s interest, looking for properties that meet their needs and budget.

Buyers’ agents assist buyers by -

• Understanding the client’s priorities, budget, nice-to-have features, and preferred locations.

• Using the Multiple Listing Service (MLS) and other tools to find properties for buyers that meet their criteria and fit their budget.

• Accompanying buyers on property visits, pointing out key features, and potential red flags, and asking insightful questions to the seller or their agent on the buyer’s behalf.

• Drafting a competitive price offer for properties through comparative market analysis (CMA).

• Acting as the buyer’s advocate during negotiations with the seller’s agent, aiming to get the best possible price and terms for their client.

Why Most Real Estate Agents Prefer to Work with Home Sellers?

A lot of real estate agents try their best to land home-selling clients rather than buyers. Here’s why -

1. More Efficient

The buyer’s agent of a real estate brokerage in Mississauga has a lot of tasks in their hand. They have to find houses that perfectly match their client’s needs and expectations and accompany them in showing houses. That’s a lot of physical labour involved!

However, by working with a seller, you just have to effectively market the property, hold open houses (schedule it at a convenient time), and negotiate offers. No doubt, there may be a lot of phone calls and video chats involved however you don’t have to be physically present for every showing. Because of this, a listing agent can have a lot of listings in their hand at a time while a buyer’s agent may find it difficult to assist even two buyers simultaneously.

2. Brand Building

When you secure a property listing, you get the chance to market your and your real estate brokerage’s name and expertise too. This is because your name and contact information will be there in all the marketing materials for the property listing. This can increase your brand’s visibility within the local housing market.

Nevertheless, Being a Buyer's Agent Has Its Fair Share of Pros Too

Yes, there are many advantages to being a listing agent. However, many professionals find being a buyer's agent to be a more rewarding career path because of the following reasons -

1. A Chance to Build Strong Relationships

As a buyer’s agent, you get to work closely with clients from the beginning of their home-buying journey. You’re there to guide them through every step of the process, from finding properties matching their criteria to closing the deal. This offers you a chance to build strong relationships with your clients, making way for referrals and repeat business.

2. Helping Dreams Come True

As a buyer’s agent, you get the opportunity to help someone find their dream home and make a difference in their lives. Being able to find the perfect property for a buyer can be an incredibly fulfilling experience for you.

So Which Clients Should You Be Heading Towards - Homebuyers or Sellers?

If you have just started your journey in a real estate brokerage in Mississauga, we suggest you start working with buyer clients before working with sellers. By working with homebuyers first, it will be easier for you to generate leads. This is because there are more people actively looking for homes than looking to sell. This will allow you to build a client base quickly and also to gain more experience in the housing market.

Also, as mentioned above, you have a greater chance of developing a deeper relationship with your home-buying clients than sellers. If you help a family, a young professional, or a retiree couple find their dream home, they are going to be extremely satisfied with your services. They will certainly think of you when the time comes to move again or sell their home.

They will also become your strongest advocate, recommending your name to their friends or family who are thinking of buying or selling a home. In a nutshell, by working with buyers, it’ll be easier for you to get clients, you’ll have a better chance at building strong relationships with clients, and you’ll be building up a base of people that you can eventually help in selling homes.