Apartment sale through an agent - what to pay attention to?

Well, as I said, big city and close to the center, the kind of people who hang around here are sometimes not so pleasant. :)

I have looked at comparable apartments online quite often, some have been discarded again. However, they are also 30 years old inside, meaning unrenovated. What my renovation is worth is hard to say. The kitchen is supposed to stay here as well.

A friend works at the ARGE and said there are practically no available apartments for Hartz IV recipients in our city. Since my apartment is perfect in size for that (45 sqm or 50 sqm including the loggia), it would probably be gone in no time to people who rent out and get the rent income directly through the ARGE. But they surely would not be willing to pay for my "upscale" renovation; they would probably prefer the 30-year-old tub with a shower curtain instead of a shower with a glass door costing €2,500, which can break easily, especially with this tenant clientele. I would rather need someone who buys for own use.

So I'd rather stick with the approach through the real estate agent...

I assume you sign a contract for x months during which the broker has the exclusive right to market the property, meaning neither I nor another broker is allowed to take action, is that correct? What is the typical duration?

Brokers like 6 months :) 3 is often too short, what hasn’t sold after 6 months becomes a stale listing and hurts the broker (in terms of effort)

The broker’s preferred notary just happens to also be "our" family notary.

Good, the only advantage I see in having a broker for you is that a broker usually gets priority appointments. A contract is signed quickly and the apartment is sold. However, it’s up to the buyer to choose the notary ;)

But:

By the way, we are talking about a 30-year-old 2-room apartment in a central location in a big city.

What value are we talking about? And how central is the location? How does the apartment compare to other properties of the same size nearby? I hope you’ve done your homework and have been watching the market for a while? Here in Hamburg, as a university and single city, 2-room apartments sell rapidly. You don’t even need a broker for that. The target group can just about afford the apartment, not more. The broker’s commission really hurts the buyer.

Therefore: Sell it yourself!
Here you see how it can be done:
Steffi took the photos herself and compiled the facts.
On Immonet you can get a 3-month subscription for 50€.
Immonet also gives you a guide. For a 2-room apartment, bathroom, kitchen, balcony/view and one large bright room are enough, preferably nicely furnished but not overloaded. If you haven’t tidied up or done home staging yet, get to it. You’d have to do that even for a broker.
The commission for an apartment will not be high enough for him to make significant investments for you and your apartment. If you need a photographer: I might have one in Munich in my network.
Only include a photo of the front or surroundings if it is very well maintained and appealing.

With us, the apartment is gone within a month.

We are talking here, as mentioned, about 2 rooms, 45 sqm or 50 sqm including [Loggia], 2nd floor = top floor, but without sloping ceilings, elevator, including underground parking space, about 1 km from the main station / marketplace / university, large residential complex (my entrance 12 units), surrounded by many single-family houses.

Value approx. €65,000, although the appraisal is 2 years old and the offer has worsened since then, whereas the interest rate situation has improved (as probably everywhere). The maintenance reserves have tripled in recent years; the underground garage as well as the flat roofs of the residential complex have been newly sealed; the elevator control renewed – no idea if that matters.

Over the last 2-4 years I have renewed or rather had almost everything renewed:
- complete floors and walls (bathroom, kitchen and hallway with tiles; living room and bedroom laminate; previously there was carpet almost everywhere)
- door frames newly painted, new interior doors installed
- completely new fitted kitchen for takeover
- completely new bathroom including hot water supply for kitchen and bathroom (among other things, tub removed, instead extra-large and low rain forest shower, spotlights in the ceiling)
- had a built-in closet made in the hallway niche
- had the [Loggia] covered with tropical wood

I still don’t want to sell myself. :D

I don't like real estate agents!

Ours estimated our apartment way too low. Almost 20% below market value. That then went into the financing, since we financed with the same bank, it was more or less part of the financing.

Fortunately, I insisted on my desired amount.

At the notary appointment, it also turned out that the buyer works at the same bank. The bank that isn't really a bank...

In hindsight, I’m a bit annoyed that I didn’t handle everything myself and maybe could have gotten 5-10k more.
But you always see each other twice in life.

I still don't want to sell myself. :D

Why not? You can add the commission to your selling price, offer it for that, and then slightly back down on the price if a counteroffer comes. :p

Where I find 65k for a downtown location with underground parking quite tight. You are only at just under 1,400 €/m². There are other places where about twice that is traded, especially when the market is tight.