Why Sell Your Minnesota Home By Owner?
If you are a homeowner in the Minneapolis area, or anywhere in Minnesota, you have to make a major decision when you are ready to sell your home. Do you sell the property yourself, or do you hire a real estate agent? Like most choices, there are advantages and disadvantages to each method.
No matter which way you go, you need your property listing with the Multiple Listing Service, or MLS. This is the source of homes available for sale that is used by realtors. If you home is not on MLS, you are not going to get noticed. So how do you get your home on the Minnesota MLS listing? If you hire a real estate agent, they automatically list your property. If you decide to sell the home yourself, then you must hire an agency that lists property on MLS for a flat fee. In Minneapolis, that agency is Real Estate Corners, Inc., for property listings in Minnesota for sale by owner.
Sale by owner with a MLS listing has several advantages. The main advantage is cost. You pay a flat fee for a listing that covers a specific time period. Your home is listed, and you wait for the phone calls from buyers and buyers' real estate agents. You control the sales process. You show your home at times you decide, and to potential buyers you select from the phone calls. All negotiations are handled directly by you, and not through an agent.
When you list your property with a real estate agent, you enter into a contract to pay a commission based upon the sales price. If the commission is 6 %, it obviously will be far more than the flat fee charged by agencies like Real Estate Corners, Inc. The extra cost pays for the work of the agent. The agent seeks out potential buyers, and shows your home. The agent does all the work of marketing your home.
The current real estate market in Minneapolis as of July 2012 shows favorable signs. The inventory of homes for sale, especially distressed properties like foreclosed homes, is down. This is a good sign. Fewer homes for sale mean higher prices for sellers. The median sales price has risen over the last couple of months. Sellers are receiving a higher percentage of their asking price; the latest figures show just over 95 %. Pending sales are up as buyers, faced with fewer options, are moving on the existing inventory. In general, the Minneapolis real estate market is looking much better. A recovery appears to be in place although the market can change at any time.
No matter which way you go, you need your property listing with the Multiple Listing Service, or MLS. This is the source of homes available for sale that is used by realtors. If you home is not on MLS, you are not going to get noticed. So how do you get your home on the Minnesota MLS listing? If you hire a real estate agent, they automatically list your property. If you decide to sell the home yourself, then you must hire an agency that lists property on MLS for a flat fee. In Minneapolis, that agency is Real Estate Corners, Inc., for property listings in Minnesota for sale by owner.
Sale by owner with a MLS listing has several advantages. The main advantage is cost. You pay a flat fee for a listing that covers a specific time period. Your home is listed, and you wait for the phone calls from buyers and buyers' real estate agents. You control the sales process. You show your home at times you decide, and to potential buyers you select from the phone calls. All negotiations are handled directly by you, and not through an agent.
When you list your property with a real estate agent, you enter into a contract to pay a commission based upon the sales price. If the commission is 6 %, it obviously will be far more than the flat fee charged by agencies like Real Estate Corners, Inc. The extra cost pays for the work of the agent. The agent seeks out potential buyers, and shows your home. The agent does all the work of marketing your home.
The current real estate market in Minneapolis as of July 2012 shows favorable signs. The inventory of homes for sale, especially distressed properties like foreclosed homes, is down. This is a good sign. Fewer homes for sale mean higher prices for sellers. The median sales price has risen over the last couple of months. Sellers are receiving a higher percentage of their asking price; the latest figures show just over 95 %. Pending sales are up as buyers, faced with fewer options, are moving on the existing inventory. In general, the Minneapolis real estate market is looking much better. A recovery appears to be in place although the market can change at any time.
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