Minneapolis Minnesota Real Estate Blog

Downtown Minneapolis Condos - Ten Questions You Must Ask a Realtor Before You List or... You Could Lose Big!

Most of us sell only a small number of condos in our lifetimes. With limited experience in real estate, how are we to be capable of maximizing the profits from our Downtown Minneapolis Condos sale?

Many Downtown Minneapolis Condos sellers make the critical mistake of thinking all Realtors are the same. They list with the first agent who comes along. Does it make good business sense to put the responsibility of selling your condo with someone who has no plan or qualifications?

This special report will educate you with valuable information that will help you make the best decision concerning: Which Downtown Minneapolis Condos agents should you list with?

Start by doing a few hours of research. Ask around.  Who’s the most active agent?

Compile a list of Downtown Minneapolis Condos agent names and use these questions to help you determine which agent is right for you.

Could you send me some information about yourself? You can often get a good idea of which agents are the most professional by looking at their promotional materials. If their own materials aren’t professional, how well are they going to market your Downtown Minneapolis Condos condo?

Track how long each agent takes to respond to your request and how quickly they follow up. If they don’t respond efficiently to your listing requests, imagine how they’ll handle potential condo buyers looking to purchase Downtown Minneapolis Condos.

Do you sell Downtown Minneapolis Condos  full time?-A large percentage of agents sell real estate part time. If one doesn’t devote 100% of their time to listing and selling real estate, how could they possible keep up with the changing business world that we live in. Marketing and negotiating are two skills that a top producing agent must be 100% in tune with.

How do you feel about selling your own Downtown Minneapolis Condos listings?-You may be shocked to know that many agents don’t want to sell their own listings. They want to list it and then let another agent sell it to reduce their liability.

How long have you been in business?-The length of time a Downtown Minneapolis Condos agent has been licensed is not a sure fire sign that they’ve been an active seller. They may have been in business for 10 years but only part time, whereas an agent who’s been in business for 2 years may be a real top producer.

Do you have an assistant or support staff? - By employing someone to handle the details of their Downtown Minneapolis Condos business, the agent can spend more time servicing your needs. However, make sure you know how much time an agent will spend and how much time their assistant will spend on the sale of your Downtown Minneapolis Condos.

It may be fine if the assistant does most of the legwork as long as the agent is there at the most critical times of the transaction period. Often, top producers disappear after they list Downtown Minneapolis Condos.

This is unsettling to many sellers. Most sellers want the agent that they hired to list their condo on the Downtown Minneapolis Condos market to be accessible to answer questions as they arise.

How often will you hold open Downtown Minneapolis Condos?- According to the NAR (National Association of Realtors) only 1% of condos actually sell due to the open condo. So why do so many Realtors do them then?

The answer is simple: so they can get more buyers. When a buyer walks into Downtown Minneapolis Condos on Sunday (most people only have Sunday off), there is a 99% chance that they won't buy it. However, the chance of that Realtor selling them another condo is very good. So who does an open condo really benefit?

What listing price do you recommend and what is that price based on? - Pricing is the most critical step to selling your Downtown Minneapolis Condos. Take great care in choosing an agent with the knowledge to price your condo effectively.

Keep in mind that the selling price should attract prospective buyers to your Downtown Minneapolis Condos, get you top dollar in the current real estate market and reflect the condition of your condo. Be realistic and avoid ‘yes agents’ who will say ‘yes’ to any request or price while your condo languishes on the market.

Lowball agents will try to talk you into an artificial price simply to sell as fast as possible. Be sure the agent is skilled in pricing a condo and has facts to back up the price he or she recommends. Emotion or how much an agent likes the condo should not be a factor.

What does the listing agreement entail, what are the beginning and expiration dates, and what are the fee amounts I will be paying?- Have your agent go over every detail in the listing agreement with you until you understand it completely.

Make sure the beginning and ending dates are on the agreement; a good standard for length is three months. Know exactly what fees you will be paying and remember that less is not always better.

If the agent stands to make very little commission, you can bet it will be reflected in the amount of time and effort that is spent marketing your Downtown Minneapolis Condos.

If the agent reduces their commission to get the listing, it may mean they intend to spend very little money promoting the property.

Agents are paid strictly by commission, therefore if there are ten Downtown Minneapolis Condos to show and eight of them offer a 3 percent selling commission and two of them offer a 2 or 2 ½ percent selling commission, which ones will possibly not even be shown?

Is the agent willing to pay for Downtown Minneapolis Condos advertising or do they depend on the company to do it all?-Often agents ride on the reputation of their company in their marketing efforts. Agents are independent contractors and are self employed.

It is up to the individual agent as to how Downtown Minneapolis Condos are marketed. Be sure that the agent is willing to invest in many different marketing strategies that will give your condo maximum exposure and show you in writing what these strategies are.

What types of things separate you from your competition and will you give me some feedback? - How effectively will they advertise? Do they have 24-hour advertising capability? Will all the leads be followed up on by your agent’s team or will they go to other agents who may have other listings they would prefer to show? Agents who are innovative and offer new methods of attracting condo buyers will measurably outperform agents who rely on methods of the past.

Marketing Downtown Minneapolis Condos effectively requires progressive strategies that add value and service for both buyers and sellers!

There is a lot of free information available to you about buying, selling or investing in  Minneapolis Condos or Minneapolis Lofts. For complete information about the Downtown Minneapolis condo market including current condos lofts for sale, values, and more please visit the most complete website online www.LivingInDowntownMinneapolis.com dedicated to everything Downtown Minneapolis Condos.  Contact Mike Weiland & Elke Stephan of The Weiland Group with any of your real estate or mortgage related questions by filling out the form below.

P.S. Free weekly list of Downtown Minneapolis Condos including private listings and foreclosures in the most popular locations call the 24 Hour Recorded Information Hotline Now for details...1-888-391-9039 Ext. 126 or visit www.LivingInDowntownMinneapolis.com.