How to Sell Your House in a Down Market

The current state of the economy may make you feel as though selling your home successfully is very unlikely.  However, with the assistance of the right Minneapolis realtor, you can have your home sold in a reasonable amount of time and for the price that you need.

Getting the Right Help

Not every Minneapolis realtor can get the job done.  You will need to obtain the assistance of a professional that has extensive experience and a proven track record.  You will want to hire a Minneapolis realtor that has been able to sell properties in this down market and has the necessary references to back it up. 

When you work with the best, you are able to get the positive outcome that you are looking for.  Whether you are selling your home due to a death in the family, a divorce or it's simply time to get into a new home, you can greatly benefit from the assistance of a Minneapolis real estate agent.

Understanding the Market

With the downturn in the real estate market, you will have to be ready and willing to adapt accordingly.  It is now a buyer's market and they have the upper hand in terms of negotiations. 

You will need to be prepared to make some sacrifices in order to have a successful deal.  You should assess the amount of money that you need to walk away with at closing, so that you can accept any potential offers on your home quickly.  Don't forget that buyers have an ample amount of homes to choose from and can simply go on to the next one.

Coming Up With an Effective Marketing Plan

A Minneapolis real estate agent will help you evaluate your home so that its best features can be highlighted.  They will help you to price your home competitively and will make your home stand out from all of the rest by offering buyers unique concessions. 

You need to be able to draw a healthy amount of traffic to your home in order to create a pool of buyers to select from.  By working in concert with your Minneapolis realtor, you can use a number of marketing channels to accomplish this together.  For instance, you can take advantage of free social networking sites to advertise your listing, popular online classifieds and low-cost real estate websites.  An experienced Minneapolis realtor will be able to let you know what will work and what won't. 

Re-assessing Your Goals

If you are not getting the results that you need, then you will have to reassess your goals and let your Minneapolis realtor know how far you are willing to deviate in regards to price and concessions.  Keeping your Minneapolis real estate agent well-informed about your personal situation and preferences allows them to properly market your home. 

Getting to Yes

Once you have finally been presented with the offer that you are looking for, you will be able to put ink to paper and proceed with a closing.  Your Minneapolis realtor will continue to assist you with any property-related matters all the way to the closing table.  They can even recommend a quality attorney that can handle your closing file.  A Minneapolis real estate agent is your best asset when selling your home.

Five Questions to Ask Your Real Estate Agent

Thinking about selling your house without using one of the best real estate agents in your city? Even worse, are you considering trying to sell your house FSBO? Don’t make that mistake, it could cost you valuable time and money. Instead, take the time to find the best real estate agent, who will be able to effectively stage, photograph, market and sell your house in a timely manner. So, how do you know if you’re using the best real estate agent possible? It’s easy, ask the real estate agents you interview the following questions:

1. How long have you been a licensed real estate agent?

There are thousands of new real estate agents entering the field of real estate every year. It’s frequently the home sellers looking for a bargain that end up using a newly licensed real estate agent. New agents typically offer to reduce their real estate commission to attract customers. Don’t fall for this trick. To ensure that you’re working with a top REALTOR®, go with an agent that’s been licensed for at least five years.

2. How many homes have you sold?

If the answer is less than five you should run! Most of the top real estate agents in any given market have sold at least 50 homes. It’s not uncommon for the best REALTORS® to have sold 200, 300 or even more homes. We recently talked to a real estate agent in Minneapolis that sold over 1,000 homes during his career. The more homes an agent has sold, the more experience he has with home pricing, marketing, negotiations, repair issues, title problems, bank negotiations and short sales. You don’t want to choose a real estate agent who is learning as he goes. You want an agent that has already learned from past experience as a Minnesota Realtor.

 3. What is your focus in the real estate business? 

 Real estate agents specialize in all sorts of things, so make sure you choose a real estate agent that is suited for your particular set of circumstances. Do you need a buyers agent, sellers agent, short sale specialist, luxury homes specialist, neighborhood specialist, investment REALTOR®, etc. Choose the wrong agent and you could be stuck with a real estate agent who doesn’t understand your situation.

4. What is your real estate commission?

This is frequently a touchy subject for home sellers. Historically, real estate agents have charged a 7% real estate commission for home sales. What you need to remember is the sellers agent will pay at least 2.7% of that commission to the buyers real estate agent. Depending on the arrangement the agent has with his real estate broker, he might pay 50% of the remaining commission to his broker (employer). From what’s left he also had to pay the marketing expenses associated with selling the property.

There are some top real estate agents who are offering reduced commission rates in the 6% to 6.5% range, but don’t expect to find the best real estate agents in your area offering to sell your house for a 5% commission. If you want to pay 5% that’s fine, but don’t expect full service.

5. How connected are you?

Many of the best real estate agents today are available around the clock. Text messaging, Blackberries, Iphones, Ipads and cellphones allow REALTORS® to stay connected to their clients wherever they are. Find out what your real estate agents typical response time is to text messages, email and phone calls. If the real estate agent isn’t getting back to you in a timely manner, then there is a good chance they’re also not responding to potential buyers.

By asking your real estate agent these five questions you should ensure an enjoyable home selling experience. If everything goes well, the same REALTOR® will be able to assist you in finding your dream home. Minneapolis real estate agents offers a wide range of properties for sale.

If you’re looking for answers to your real estate questions, you can visit the real estate forum to have your questions answered for free by professionals in the real estate business.