Listing Broker
Definition and meaning of Listing Broker in real estate.
A listing broker is a licensed real estate professional who represents the seller in a property transaction and manages the marketing and sale of the property.
In more detail
The listing broker works under a listing agreement and represents the seller's interests, which includes determining the listing price, hosting open houses, and negotiating offers. They coordinate with the buyer's agent, who represents the purchaser, to facilitate the transaction. In exchange for these services, the listing broker receives a commission, which is often split with the buyer's broker at closing.
This role is distinct from a buyer's broker, who owes fiduciary duties to the purchaser rather than the seller.
Key facts
| Category | Buying & Selling |
|---|---|
| Fiduciary duty to | The property seller |
| Compensation | Typically a percentage of the final sales price |
| Also known as | Seller's agent or listing agent |
A seller hires a listing broker to list their house on the local Multiple Listing Service, arrange professional photos, and negotiate offers with prospective buyers.
Frequently asked questions
Does a listing broker work with buyers?
A listing broker can work with unrepresented buyers, but they must disclose whether they represent only the seller or are acting as a dual agent, depending on state regulations.
How does a listing broker get paid?
The listing broker is paid a commission from the seller's proceeds at the close of escrow, which is typically split with the brokerage representing the buyer.