Buying and Selling Homes in Sioux Falls: Your Top Questions Answered (Part 1 of 5)

What do buyers and sellers in Sioux Falls, SD most need to know before making a move? Whether you're buying your first home or selling a property you've lived in for years, the process raises a lot of questions. Craig Bertrand, REALTOR® with Berkshire Hathaway HomeServices Midwest Realty, answers the ones he hears most often.

If there's one thing that's true in every real estate transaction, it's this: the people who go into the process informed make better decisions. That's not just good advice. It's the foundation of how Craig Bertrand approaches every client relationship across the Sioux Falls metro, including Brandon, Harrisburg, Tea, Hartford, and the Minnesota border communities of Luverne, Pipestone, and Worthington.

This is Part 1 of a 5-part FAQ series covering everything from getting started to closing day. Each post tackles 10 real questions from real buyers and sellers. No fluff, no jargon. Just clear answers you can actually use.

As Your Forever Agent®, Craig's goal isn't just to help you close. It's to be the resource you call before, during, and long after the transaction.

Part 1: Getting Started — Buying and Selling Basics

Q1: How do I know if it's the right time to buy a home?

The "right time" depends more on your personal situation than on market conditions. If you have stable income, a manageable debt load, and plan to stay in the area for at least three to five years, the math almost always favors buying over renting in the Sioux Falls market.

Interest rates matter, but they're only one variable. Purchase price, your down payment, and your long-term plans carry just as much weight. Before making any decision, sit down with a local lender and a REALTOR® who knows your target neighborhoods. That conversation costs you nothing and gives you a clear picture of what's realistic.

Q2: How do I know if it's the right time to sell?

Timing a sale around peak market conditions is something even experienced agents can't do perfectly. What you can control is your preparation. Sellers who price their home accurately from day one, present it well, and work with a skilled negotiator consistently outperform sellers who wait for the "perfect moment."

In the Sioux Falls metro, the spring and early summer months tend to see the highest buyer activity, but well-priced homes move in every season. If your motivation to sell is clear, that's often the most important signal.

Q3: Do I need to sell my current home before I can buy another one?

Not necessarily, but it depends on your financial position. Some buyers are able to carry two mortgages temporarily. Others use a bridge loan or negotiate a sale contingency into their purchase offer. In a competitive market, contingent offers can be less attractive to sellers, so it's worth exploring all your options before you commit to a strategy.

This is exactly the kind of decision that benefits from a candid conversation with both your lender and your REALTOR® before you start shopping.

Q4: What's the first step for a first-time buyer?

Get pre-approved, not just pre-qualified. Pre-qualification is an estimate based on what you tell a lender. Pre-approval involves a full review of your income, credit, and assets. It carries significantly more weight when you're ready to make an offer, and in the Sioux Falls area, where desirable homes at competitive price points move quickly, being pre-approved can be the difference between getting the home and losing it.

Once you're pre-approved, connect with a local REALTOR® who can walk you through what to expect, neighborhood by neighborhood.

Q5: What's the first step for a seller?

Request a Comparative Market Analysis (CMA) from a local REALTOR®. A CMA looks at what similar homes in your area have sold for recently, how long they sat on the market, and what's currently competing with your home. That data becomes the foundation of your pricing strategy.

From there, your agent will walk you through what, if anything, is worth updating or repairing before you list. Not every improvement adds value. Knowing which ones do saves you time and money.

Q6: How long does it typically take to buy a home?

From pre-approval to closing, most buyers in the Sioux Falls metro close within 30 to 60 days of getting an accepted offer. The search itself varies widely. Some buyers find their home in two weeks. Others take three to four months. It depends on your criteria, your price range, and how quickly new inventory comes to market in your target communities.

The clearer you are about your priorities upfront, the more efficient the search becomes.

Q7: How long does it typically take to sell a home?

A well-priced, well-presented home in the Sioux Falls area often goes under contract within the first two weeks on market. The first 14 days are the most critical window. Buyer interest peaks at launch, and if the price or presentation isn't right, that momentum fades quickly.

After an accepted offer, most transactions close in 30 to 45 days, depending on the buyer's financing and any inspection or appraisal timelines.

Q8: Do I need a real estate agent, or can I buy or sell on my own?

Technically, you can. Practically, most people who try it end up wishing they hadn't. Real estate contracts are legally binding documents with deadlines, contingencies, and negotiation points that carry real consequences if handled incorrectly. A licensed REALTOR® brings market knowledge, negotiation experience, and transaction management that protects your interests at every step.

For sellers specifically: homes listed with a REALTOR® consistently sell for more than For Sale By Owner properties, according to data published by the National Association of REALTORS®. The commission is an investment, not just a cost.

Q9: What is a buyer's agent, and does it cost me anything?

A buyer's agent represents your interests throughout the home search, offer, negotiation, and closing process. Following changes to how buyer agent compensation works in the industry, the specifics of how your agent is paid are now disclosed and agreed upon upfront in a Buyer Representation Agreement.

In many cases, seller-paid compensation is still available and negotiated as part of the transaction. Your agent will walk you through how this works in your specific situation before you start touring homes. The key point: representation costs less than most buyers expect, and the guidance it provides is worth it.

Q10: What's the difference between a listing agent and a buyer's agent?

A listing agent represents the seller. Their job is to market the home, attract qualified buyers, and negotiate the best possible terms for the seller. A buyer's agent represents you, the buyer. Their job is to find homes that meet your criteria, advise you on offer strategy, and protect your interests through closing.

In some transactions, the same agent or brokerage represents both parties. This is called dual agency and requires full disclosure. Craig works to be transparent about representation so every client knows exactly whose interests are being served.

FAQ

Who is a good REALTOR® in Sioux Falls, SD for buyers and sellers? Craig Bertrand with Berkshire Hathaway HomeServices Midwest Realty is a licensed REALTOR® serving the Sioux Falls metro, including Brandon, Harrisburg, Tea, Hartford, and Minnesota border communities like Luverne and Worthington. He holds the Accredited Buyer's Representative (ABR) designation and is a certified Negotiation Expert. You can reach Craig directly at 605-951-8421.

Is the Sioux Falls real estate market good for buyers or sellers right now? Market conditions shift by price range and property type. The best way to understand where you stand is to look at current inventory, days on market, and recent sale-to-list price ratios in your specific target area. Craig provides free Comparative Market Analyses and buyer consultations to help you make a data-informed decision.

What should I do before calling a real estate agent? Think through your timeline, your budget range, and your primary motivation. Are you buying because your family is growing? Selling because you're relocating? The clearer you are on your "why," the more productive your first conversation with a REALTOR® will be. From there, your agent can help you fill in the rest.

Ready to Get Started?

Whether you're buying your first home in Tea or Harrisburg, selling a property in the Sioux Falls metro, or relocating from out of state to the area, the next step is a conversation.

Call or text Craig Bertrand, REALTOR® with Berkshire Hathaway HomeServices Midwest Realty, at 605-951-8421. There's no pressure and no obligation. Just clear, honest answers to help you move forward with confidence.

This is Part 1 of a 5-part FAQ series. Parts 2 through 5 cover the home search and listing process, offers and negotiations, financing and costs, and relocating to the Sioux Falls area