Tag

selling agent

Quick! Who Does the Selling Agent Represent?

Some Properties Are Bought, Some Are Sold True or false:  what Realtors call “the selling agent” once a deal closes represents the Seller (no, this isn’t another “Grant’s Tomb” question). Answer:  false. The agent who represents the owner/seller is called “the listing agent”; post-closing, the Buyer’s agent is referred to as “the selling agent.” Nomenclature...
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Realtor Sales Incentives: Best (& Worst) Uses

True or False On top of the “payout” commission listed on MLS, Sellers will sometimes dangle an extra incentive for Buyers’ agents. The most common (and straightforward) is simply a cash bonus, payable upon successful closing. How smart is that — and what situation(s) is that most effective? Read through the following three scenarios, and...
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Political — and Real Estate — Incumbents

Politics isn’t the only field that has incumbents and challengers. Real estate does, too. The “incumbent Realtor” is the Realtor who helped the now-selling homeowner buy the home, however many years back; the challengers are all the other Realtors vying for the listing. Average Realtor “Career”:  < 2 Years I’d guesstimate that something like one-third of...
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Giving the Selling Agent Equal Billing

“Here You Go, Arthur!” I’ve certainly heard wackier proposals. So, per Arthur Lee, the Selling agent on my listing at 1901 Fifth Ave. South in Minneapolis (closed this am!) comes this idea:  once the Buyer removes their Inspection Contingency and the listing’s status is switched to “Pending” on MLS, the selling agent (representing the Buyer) should...
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When Realtor MLS Statistics are Misleading

Keeping the “Pipeline” Full I’m sure I’m not the only Realtor scratching their head (at least a little) about why their recent MLS statistics belie their crazy work weeks (I’ve been going 70-80 hours a week virtually since February). The explanation? MLS statistics are a lagging indicator. They’re also incomplete. Examples What does MLS track by...
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Well-Prepped, Well-Priced . . . Sold!

Where:  5229 Chowen Ave. South in Southwest Minneapolis. What:  4 BR/2 BA stucco bungalow with 2,100 square feet in mint condition. When: came on the market April 4; under contract April 10. How much: listed for $395,000 Who:  listed by Ross Kaplan, Edina Realty City Lakes; sold by Andrew Olive, Edina Realty 50th & France....
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