What is the difference between a listing broker and a selling broker?

A listing broker represents the seller in a real estate transaction, while a selling broker (also called a buyer's broker or buyer's agent) represents the buyer. The total commission on a sale is typically split between the listing and selling sides, and each broker then shares a portion of the commission with their sponsored licensee. In the Illinois 75-hour pre-license curriculum, seller relationships and buyer relationships are covered as distinct topics, with 9 hours devoted to seller relationships and 7 hours to buyer relationships in Part 1.

Sources: IDFPR – Real Estate Broker 75-Hour Pre-License Curriculum (Official Document).

A listing broker represents the property seller and is responsible for marketing and listing the property, while a selling broker represents the buyer in the transaction. In Indiana, the total commission on a sale averages 5.50% and is typically divided between the two sides, with the listing side averaging 2.65% and the buyer's side averaging 2.85% of the sale price, based on a February 2026 survey of Indiana agents. Both roles require an active Indiana real estate broker license, and both must work under a managing broker.

Sources: Indiana PLA — Real Estate Licensing Information; Pearson VUE — Indiana Real Estate Candidate Handbook (March 2025).

In Massachusetts, a listing broker (seller's agent) represents the seller in negotiating the sale, exchange, or lease of real property, while a selling broker (buyer's agent) represents the buyer's interests in the transaction. Both must make agency disclosure in writing at the first personal meeting to discuss a specific property. A broker is responsible for accepting and escrowing all funds, such as a deposit, and for finalizing transactions, and must supervise any transactions conducted by a salesperson.

Sources: MA DPL — Real Estate License Fees; Mass.gov — RE License Exam Guide.

A listing broker represents the seller and markets the property for sale, while a selling broker (or buyer's broker) represents the buyer in the transaction. The real estate commission is typically split between the listing and buyer brokerages, often 50/50, and each brokerage then divides its portion with the individual agent according to their commission agreement. Commissions are negotiable and not set by law.

Sources: MO Prof. Registration — RE How-To; MO RE Commission — Application PDF.

A listing broker represents the seller in a real estate transaction, marketing the property and negotiating on the seller's behalf, while a selling broker (also called the buyer's broker) represents the buyer. In the traditional compensation model, the seller paid both the listing and selling agents' commissions, which were then split between the agents and their respective brokers. Following the March 2024 NAR settlement, sellers are no longer required to compensate the buyer's agent, and buyer representation agreements must disclose that commissions are fully negotiable. Commissions are typically divided among the buying agent, selling agent, and their respective brokerages, with a common split being 70% to the agent and 30% to the broker.

Sources: PA DOS — Real Estate Commission Licensure Guide; PA Real Estate Commission — Salesperson Licensure Snapshot.

A listing broker represents the seller and markets the property for sale, while a selling broker (also called a buyer's broker) represents the purchaser in the transaction. The total commission on a sale is typically divided between the listing side and the selling side, with each portion further split between the agent and their brokerage. In South Carolina, commission rates are negotiable, and a February 2026 survey of SC agents found the average total commission at approximately 5.88%.

Sources: SC LLR — Real Estate FAQ; SC LLR — Real Estate CE.

A listing broker represents the seller and markets the property, while the selling broker (the buyer's broker) represents the purchaser in the transaction. The sales commission typically passes through the brokers and is split between the listing side and the buyer's agent side, with each broker's firm taking a share before paying the individual agent. In Tennessee, a February 2026 survey found an average listing commission of 2.95% and an average buyer's agent commission of 3.10%, for a total average commission of 6.05%. Commission rates are negotiable between the parties.

Sources: TN Commerce Support — Pre-Licensing Requirements & Exam FAQs; TN TREC — PSI & Exam Information.