Understand the Market
As a seller, it is crucial to be informed about the current market trends in your neighborhood because they will directly affect the s¬¬ale of your home. On most websites that talk about the market, you will find data on the Real Estate Market of the entire country. While themacroeconomics do play a factor into the market, the microeconomics of your neighborhood are the most influential in your sale. I specialize in the local market trends and will provide valuable information specific on your neighborhood. The Denver Metro area Average Home price increased 4% last quarter, compared to this time last year, however, your neighborhood may be stronger.
For information on your specific neighborhood, email me with your address and I will compile the data specifically for you.
The data points include the following:
- The average home sales price
- The increase or decrease in value over the past year
- The absorption rates
- The number of showings per active listing
- The months of inventory
- The average sales concessions offeredand more.
Click here to view our most recent Market Update
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Work with a professional
Why do you need a realtor?
Having a Realtor sell your house is like hiring a professional counselor, guide, negotiator, facilitator, and ultimately an advocate on your side. Most people sell only a few homes in their lifetime. Throughout my career, I have guided hundreds of clients in the sale of their home. All that experience can be put to work for you! My goal is to get you the highest price, in the least amount of time as stress-free as possible.
Aren’t all real estate agent’s Realtors?
No. They are not. To be a Realtor, a licensed real estate broker must elect to subscribe to the National Association of Real Estate Professionals. As Realtors we are held to a higher standard of professionalism and a Code of Ethics.We are then held accountable to this higher standard.
Some of the many standards are things like:
- Put your client’s interest before your own
- Do not misrepresent a property or situation, etc.
These are all things I would do anyway because I like to sleep at night. However, being aligned with the National Association of Realtors is a tangible way to hold licensed brokers to this high level of professionalism.
Commissions and other fees
How much commission do you charge? That depends. It depends on which marketing plan you select and which discounts you would like to use. As such, it is customized specifically for your selling situation and the level of marketing that makes sense for your house. I would love to meet with you to explain in detail how the commission structure and marketing plans work.
In addition to Real Estate Broker commissions, there are other fees to take into consideration when selling a home. Such as; title insurance, property taxes and escrow fees. When we meet, I will prepare an estimate of those expenses so that you know how much would be transferred into your bank account when you close. You do not want any unexpected costs surprising you at closing. My goal is to make sure that you are fully informed of all expenses from the beginning.
Price it right
We will work with you to determine the correct list price for your home. In our current market, it is very important to price it right (not too high and not too low). Homes that are priced accurately typically sell within two weeks compared to homes that are overpriced that take three months to sell. The homes that take longer to sell do not sell for any more than the homes that sold quickly.
We will research similar homes that have sold most recently in your neighborhood. We will also review the neighborhood market trends and absorption rate to determine where it should be priced. We will provide data and professional market advice. Ultimately you decide what you would like to price your home at for sale.
Staging and Curb appeal
Do I need to stage my home?
The decision to stage your home to sell is personal, depending on your situation. Some factors that could affect your decision are: is the home vacant? Do you have funds upfront to put into staging to earn more when you sell? Does your home have unique rooms or spaces?
Below are some statistics from the 2019 National Association of Realtors on the effects of staging a home to sell:
From a Buyers’ Agent Perspective:
- Forty percent of buyers’ agents cited that home staging had an effect on most buyers’ view of the home.
- Eighty-three percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.
- Staging the living room was found to be most important for buyers (47 percent), followed by staging the master bedroom (42 percent), and staging the kitchen (35 percent).
- One-quarter of buyer’s agents said that staging a home increased the dollar value offered between one and five percent, compared to other similar homes on the market that are not staged.
From the Sellers’ Agent Perspective:
- Twenty-eight percent of sellers’ agents said they staged all sellers’ homes prior to listing them for sale. Thirteen percent noted that they only staged homes that are difficult to sell.
- The most common rooms that were staged included the living room (93 percent), kitchen (84 percent), master bedroom (78 percent), and the dining room (72 percent).
- The median dollar value spent on home staging was $400.
- When staging a home, 22 percent of sellers’ agents reported an increase of one to five percent of the dollar value offered by buyers, in comparison to similar homes. Seventeen percent of respondents stated that staging a home increased the dollar value of the home between six and 10 percent.
- Twenty-eight percent of sellers’ agents stated that there were slight decreases in the time on the market when the home is staged.
Even if you decide not to hire a professional stager to move in their own furniture and décor, there are many things you can do to stage your house on your own. Some of the most useful self-staging things you can do aredecluttering the home, deep cleaning the entire home, removing pets, pet beds and bowls during showings and cleaning the carpet. As your Realtor, I will provide guidance on what staging you can do for the least amount of money to get the most out of the sale of your home.
Prepare to negotiate
Each seller’s situation is different, some need to find a replacement property, others need to sell quickly, while others care more about getting a family into their home that will love it as much as they have. Although these situations and more are different, all sellers have one thing in common, they want to sell their home for the most amount possible. No one wants to leave money on the table. As your Realtor, it is my job to advocate for you and negotiate on your behalf for your best interest.
A buyer may have a contingency in place like having to sell their home before they can buy yours. It is up to you, your comfortability and timeline if you want to accept an offer with any kind of contingency. I will help you to evaluate the pros and cons of the offer no matter what is involved.
If you receive two offers at the same time with the same price, how do you determine which one to take? I will help you determine the qualifications of the buyers. We will review other terms of the contract and negotiate for terms that are the most favorable to you.
Seal the deal
On the journey between signing the contract and arriving at the closing table, there are some major landmarks to be passed. The first is the inspection. The buyer hires a professional inspector to inform them of the condition of the property. Sometimes negotiations take place if the buyer requests any improvements or concessions. Once we come to an agreement on the inspection we move along to the appraisal. The appraisal is for the lender to determine the current market value of the property, since they do not want to lend more than the property is worth. The final landmark is the buyer’s final loan approval. This typically happens the week of or week before closing.
Then it is time for the celebration at the closing table! Once the paperwork is signed between the buyer and seller you will be able to hand over the keys to the new owner. It is often a bittersweet moment when you sell a home that you have loved for years.
Throughout the entire process, I will be there for you every step of the journey.