Tennessee Realtor State Practice Exam

What is the term for a real estate agent working on behalf of the seller?

1. Facilitator

2. Buyer’s agent

3. Listing agent

4. Dual agent

The correct answer is: Listing agent

The term for a real estate agent working on behalf of the seller is the listing agent. The listing agent is responsible for representing the seller in a real estate transaction. This includes tasks such as marketing the property, setting a competitive price based on market analysis, and negotiating offers on behalf of the seller. The listing agent's role is crucial in facilitating a successful sale that meets the seller's needs and objectives. In contrast, a facilitator typically assists both parties in a transaction without advocating for one side over the other, which diverges from the specific representation provided by a listing agent. A buyer’s agent, on the other hand, represents the interests of the buyer, ensuring they find the right property and negotiate favorable terms. A dual agent represents both the buyer and the seller in a transaction, which requires careful management to avoid conflicts of interest. Each of these roles has distinct responsibilities, emphasizing the importance of understanding the specific functions within real estate transactions.