Questions sellers have asked...
Sellers often ask why they should team up with us to sell their home. After all, aren't all real estate brokers created equal? Hardly! Sure, almost all brokers can list your home in the MLS. But more important than that is whether they have the experience to help you prepare your home for sale, help you understand the complexities of an offer on your hom and help you through the mine field of disclosures, dates and deadlines. On top of that, the broker you choose should be someone you feel comfortable with. Someone who will listen to what is important to you and make that their top priority. That's our goal, and because clients not only come back to us, but also refer their family, friends and associates, we think we have a pretty good track record!
How are your services different from discount brokerage firms?
From beginning to end in a typical transaction, there are between 150 – 200 activities and procedures to be performed. There are firms that offer “limited services” in exchange for an up-front flat fee, or perhaps offer a menu of pay-as-you-go services. That’s the equivalent of ordering from the “a la’ carte” menu at a restaurant. In these cases, the broker’s compensation is based on these reduced service levels with the seller bearing full responsibility for all the other steps and procedures in the selling process. In short, the marketplace truism is that “you get what you pay for.” We are a full-service brokerage. We will take responsibility for seeing that all of the various activities are completed, allowing you to stay productive doing what you do best. And, we only get paid upon closing, so we have an incentive to see that your home sale is completed. Yes, we may charge a little more, but you have the comfort of knowing that all unexpected complications will be handled professionally.
Can you tell me what my home is worth?
“Worth” is probably the wrong word to use. As real estate brokers, one of our primary jobs is to help sellers realistically determine what their home will sell for in current market conditions. We have an ethical obligation to give you, the seller, our honest opinion of your home’s current market value. Ultimately, you tell us what price you’d like to ask for your home. The market will determine your home’s worth given current market conditions. That said, even though two homes have the same floor plan, it is very seldom that two homes are identical in every respect. Your home may sell for more or less than the same floor plan down the street for many reasons. Some of the major factors to consider are location, additions and upgrades, overall condition, updating, current market conditions, buyer and seller motivation, and financing terms. A Comparative Market Analysis (CMA) prepared by a real estate broker should clearly identify the differences between your home and others like it and come to a conclusion as to the current estimated market value of your home.
Can you tell me what I need to do before I put my home on the market?
Absolutely. Being active in the market gives us the opportunity to see hundreds of homes each year and become familiar with buyers’ expectations. In any market, the homes that sell fastest and for the most money are the ones in the best showing condition. If your home is vacant, you may want to consider “staging” it with plants and furniture. Staging a home gives it a warmer appeal to a number of buyers, but can cost from a few hundred dollars to several thousand dollars. Even if you choose not to stage your home, we can provide invaluable tips for preparing your home for sale. A good place to start is in our web site’s ResourceCenter.
Can I be here when someone wants to view my home?
While you certainly aren’t required to leave when there is a showing, we strongly encourage you to leave. And don’t forget the family pet. Buying a home is an emotional decision. Buyers tend to feel uncomfortable and intrusive when you and your pets are home, and those are the feelings that they will associate with your home long after they’ve forgotten your floor plan. No one wants to buy a home that they won’t be comfortable in. By letting them have “free rein” with their broker in your home for a short time, buyers will have the opportunity to mentally place their own furniture and begin to adopt your home as theirs.
How will you handle multiple offers on my home?
That’s up to you. You could instruct us to let all interested buyers know that we have multiple offers and allow each of them the opportunity to make their best offer. You could end up with a contract sales price that is higher than your asking price. That strategy is not without risk, though. Some buyers don’t wish to “compete” for a home and will withdraw their initial offer – you could end up with no offers! So how we proceed is up to you and which risk you are willing to accept.
Is it better to counter a low offer, or should I just accept a low offer and be done with it?
Again, that’s up to you. When you receive an offer, you have three options: a) you can accept the offer as is; b) you can reject the offer outright, or c) you can make a counterproposal for a higher price or for different terms. Keeping in mind that, while price is a major factor in any offer, there are a number of other terms that might make or break the deal. If you could close next week for cash, would you be willing to accept a lower price? What if you could retain possession for a month or two after closing? We can help you sort through the issues and come up with a win-win contract.
Buyers never offer full price. Should I price my home above market so that I have room to negotiate?
That depends on your motivation. Are you just “testing the waters?” Are you serious about selling your home? If you need a quick sale because you’re relocating or have signed a contract to buy another house, it’s a strategy that could cost you thousands of dollars in the end. Studies repeatedly indicate that your best chance for a full-price offer comes in the first three weeks of having your home on the market. Your home can become stigmatized if it stays on the market too long. And the longer your home is on the market, the lower you can expect the offering price to be when an offer is made. If, as sometimes happens, there’s just no activity on your home, consider a price reduction, or a series of timed reductions, to generate interest and excitement.
As a seller, shouldn't I wait to put my home up for sale until the market improves?
In a buyer’s market, there are relatively more homes on the market than there are buyers; there are a lot of homes for buyers to choose from. In a seller's market, just the opposite occurs. Naturally, you’re more likely to get your price and better terms when you sell your home in a seller’s market. Conversely, the buyer is more likely to get their price and terms in a buyer’s market. Buyer’s markets and seller’s markets seem to be more important factors to investors. As a home owner, if you’re selling a home and buying another in the same market, the market gain or loss you experience will be less noticeable because what you give up on one end, you will likely make up on the other end.
What will you do to make my home sell quickly?
In over 25 years of business, we’ve developed a proven system for marketing homes in any kind of market. It’s impractical to describe here the 150 – 200 activities we perform, but some here are some of the highlights. First, we make suggestions that help you prepare your home for showing. Once you list your home with us, we check our list of buyers for a match. For maximum exposure we enter your home in the Denver Multiple Listing Service (MLS). We will prepare a video tour of your home. A link to the tour is added to the MLS listing along with placement on our web site, Realtor.com, REColoradoand a host of other search engines for exposure on the internet. Additionally, we are always looking for the newest technologies to help expose your home to prospective buyers. We’ll explain the pros and cons of Open Houses to determine whether that is something that is right for you. All the while we will be checking for new homes on the market representing your competition and for homes that have sold to determine whether your home is priced correctly.
I have friends and associates who are looking to move, as well. Can I give them your name and number?
Absolutely! Our business is built on referrals and repeat business from satisfied clients. One of the most time consuming and expensive tasks that brokers face is finding new business. By referring your family, friends and co-workers to us, we are able to dedicate more of our resources to providing you the service you deserve and have come to expect from us!