Should Properties in Downtown Minneapolis be Sold FSBO or Through an Agent?
Note: To find the best deals on Downtown Minneapolis condos as well as insider information about privately available condos, click here!
As a seller looking to get the most out of your condo, it’s completely understandable to want to try your hand at selling the condo on your own. Before you make your decision, consider these pros and cons about selling a condo through a FSBO or through an agent. By the end of this article, you’ll be able to make a much more informed decision.
Commission
The reason sellers opt for FSBO sales is because working with a real estate agent can be seen as “expensive” because of the commission.
However, in reality it almost always costs more to not hire a real estate agent. The NAR has found that on average, sales done through a real estate agent sell for 16% higher than those listed by FSBOs.
Control
Another reason why sellers may opt for FSBOs is the desire to control the entire selling process. While this could be great, it can also be a big pitfall.
Why? Because sellers are often very attached to their condos. They have an emotionally attachment which keeps them from making unbiased judgments or negotiating in an unattached manner.
That’s why it’s so important that if you work with an agent, you work with an agent you trust so that you can share the responsibility while knowing your agent is taking care of what needs to be taken care of.
Finding Buyers
It’s hard for FSBOs to find good buyers. Why?
Generally, real estate agents don’t show FSBOs. Instead, they show properties listed by other agents. What ends up happening is that investors or buyers looking for a lowball deal end up coming to look at FSBOs, resulting in lower sale prices.
Although there are some positives to listing your condo as a FSBO, it’s usually not worth the headache and the time and money you’ll likely lose as a result.
There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Condos or Minneapolis Lofts. 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 Mike Weiland & Elke Stephan with Edina Realty with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.
P.S. To find the best deals on Downtown Minneapolis condos as well as insider information about privately available condos, click here!
