If buying a condo is the most important financial decision most people make in their lives, selling a condo is certainly a close second. And the most important step in selling a condo is finding the right Realtor with the sales and marketing expertise you need.
First, always work with a licensed REALTOR®. As a member of the National Association of Realtors, these real estate professionals meet the association’s strict code of ethics that can often exceed the requirements of state law. And they must meet stringent education and licensing requirements as well.
Questions you’ll want answers to include:
- Is the agent’s real estate license in good standing? The state’s real estate governing agency will have this information.
- Is the agent a member of the Multiple Listing Service (MLS), a cooperative information network with descriptions of other condos for sale in a particular area? Almost all will be, but it doesn’t hurt to make sure.
- What, if any, real estate designations does the agent hold? Designations and certifications from programs offered by the National Association of Realtors show a higher level of skills and knowledge in specific real estate areas. Just because a Realtor has no such designations doesn’t mean they’re not highly capable, but having them is further assurance of their expertise.
- And, of course, get references and check them.
Ask friends, associates and others whose opinion you trust for recommendations of experienced Realtors and then focus on the three that seem to be the best. Ask each to come visit your property and to then produce a marketing analysis for it, giving the specifics of his or her plan to sell it. Be sure to get the marketing analysis and sales plan in writing
The market analysis for your home should compare it with at least three other condos currently on the market, three recent sales of comparable condos, and three inactive listings that didn’t sell. It’s a good idea to take a drive to see some of the properties in the market analysis to make sure there aren’t major discrepancies. And if there are, ask why. There could be very good reasons.