The 10 Deadly Questions You Should Absolutely Get Answered Before You Sell Your Condo on the Downtown Minneapolis Real Estate Market!

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June 18, 2009, by Mike Weiland in Tips for Sellers

Not every realty firm located in Downtown Minneapolis are alike. If you have decided to use an agent in the selling or purchase of your condo, make sure you do your research and ask a lot of questions before you sign a contract.

Picking the right agent in Downtown Minneapolis is an issue like this is quite crucial. It can mean the difference between saving or spending thousands of dollars. In order to obtain the best representation, you should ask specific questions about your needs. Plenty of agents are available Downtown Minneapolis would prefer you had a very good idea of what outcome you can expect from using this agent would prefer that you don't ask these questions,because the knowledge you will gain from their honest answers will give. Real Estate, as in life - not all things are created equal.

Employing a Realtor located in Downtown Minneapolis is similar to any new hire process, but you're on the other side of the desk. Buying real estate is a huge financial investment and you want to make sure that you have the right people on your side. This is a list of the questions that you should ask your agents.

1) How simple is it for a potential buyer to learn about my condo?

Agents come up with some creative tools to get people to get interested in buying condos. Sometimes they even trying to sell to people that can't afford to buy the condos. But the agents do care, they still get their commission. So what if the condo will later go into foreclosure, the agent doesn't really care. For they already got their money, and then they can just move on to the next person who can't afford to buy a condo. (the open condos and big company ads) don't really work well. The National Association of Realtors has reported the following statistics: 3% of the people who call on an advertisement purchase that condo and less than 1% of the condos available at an open condo secure a buyer as a result. How do most of the condos located in and around Downtown Minneapolis close the transaction? The Multiple Listing Service - Plain and simple All agents from every company can sell and show condos that are listed on the MLS.

Also, the potential buyers of your condo who call for info most likely don't want to waste their time, or yours. The last thing they want to be subjected to is either a game of telephone tag with an agent, or an unwanted sales pitch. With a specific ID # for your condo which gives buyers access to detailed information about our property day or night 7 days a week and make sure the ad your agent places for your condo is attached to a 24 hour pre-recorded hotline. This particular system has show that nearly 3 times as many buyers will call to inquire about your condo. And remember, the more buyers you have competing for your condo the better, because it sets up an auction-like atmosphere that puts you in the driver’s seat.

2 How much do you get for commission and how do you earn it?

Never go along with a commission amount if you haven't had a demonstration of precisely what the sales rep will do to earn it. FACT - Real Estate law does NOT regulate commissions!

This is the third thing you need to be concerned with as a seller. Do you need any assistants, and if so how many?

A majority of agents work alone with no support, making it hard for them to give you a consistently higher level of service. There are numerous aspects to being a realty agent. This is just the same as how you wouldn't want a professional doing menial work. Downtown Minneapolis Realtors ought not waste their time with uncomplicated yet lengthy chores that they could easily assign to underlings. You should ask yourself how much time they really have to work to get your condo sold, if the agent doesn’t have assistants to cover each aspect of your transaction.

Note: An assistant is much different than the company receptionist. The firm's secretary performs tasks for the entire Realtor staff, however an assistant solely answers to a single sales rep and is accredited as a real estate professional.

Fourth point What methods do you use to get the attention of a potential buyer?

The agent will be able to demonstrate what methods they use to attract buyers. If they can’t, hire another agent! You shouldn't pick an agent just because they tell you that they are known for attracting buyers. Get them to prove it!

Five. What sales have been completed in my vicinity?

An agent should also provide you with a list of comparable sales. Downtown Minneapolis.

VI. What will you be doing to get our Downtown Minneapolis condo sold?

Be wary of someone who plans to use an extravagant company advertisement, open condos or a small website to sell your condo. Make them be specific and put what advertising they promise in writing!

7. When your listing sells, on average how close is the sale price to the asking price?

You can guess how much you will get for your condo based on this performance.

Eight. Calculate the number of buyers that you have contact with. Do you have a list? How do you keep track of people who purchase from you?

Obviously the more buyers your agent is working with, the better your chances are of selling your condo quickly. If an agent has a lot of buyers and sets up an atmosphere that is reminiscent of an auction - that is where lots of buyers are bidding - it can have a real effect on the price you get for your condo. Ask them to see the lean and depict the grouping they use for employed with these buyers. (They should ALWAYS have a buyer list with them) If they have a lot of buyers, they will certainly need a computerized system to keep track of them. Make sure your agent is willing to show you a list of their buyers.

Note- The difference between a lost of buyers and a print out of a database is BIG. The financial qualifications of the buyer and the property type they're interested in should be included in an actual buyer's list. This type of list is the only type that will suffice.

Nine. What about you is unique? What qualifications do you have, that would persuade me to choose you, to list my condo?

The condo market is a lot rougher now than half a decade in the past. You need question what this agent has to offer that differs from others to ensure your safety. What does this agent do to help you sell your condo that is better than what other agents will do? What technological tools will you utilize to facilitate my residential sale? Can you give me a demonstration of that technology? Take note - Among the most successful implements in real estate now are round-the-clock call services, online interactivity, 'talking condo' systems, instant faxes, and so on. Be sure they show you how it works.

10) Can I remove my listing any time I desire?

Don’t ever sign anything unless this agent can guarantee, in writing, that they will cancel your listing at any time if you decide not to sell your condo or if you are not satisfied with the service being provided.

Important Assignment: Make them tell you exactly how their services differ from those of other firms. Inquire as to particular firms.

If they say ANYTHING negative about another company or try to make another company look bad, hire another agent! Don't take our word for it - learn about the facts with your own research! Run the other way if your agent starts boasting about the company being "Number One" or bragging about how good they are and how many condos they have sold. Sometimes it seems like all real estate companies in Downtown Minneapolis are boasting of holding the top spot. At The Weiland Group of Keller Williams Realty we encourage you to compare any other company’s services to ours based on FACTS not FICTION!

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis real estate. For complete information about the Downtown Minneapolis Condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis Condos at www.LivingInDowntownMinneapolis.com. Contact me, Mike Weiland with Edina Realty with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

P.s. We will sell your condo in 89 days, guaranteed! For a free, no obligation over-the-internet market evaluation of your condo, complete the information below. We will provide your market analysis via email within 24 hours!