Many people wonder whether working with a real estate agent is worthwhile in today’s market. After all, the internet offers a wealth of information with numerous apps and programs available to assist those who choose to sell their own home. However, there are many benefits associated with using a professional real estate that are not available to those who choose the FSBO (for sale by owner) route including:
When selling, it is critical to understand the value of your property relative to the market–the competition, houses under contract, recent sales and houses that failed to sell. We will develop a valuation range for your property using houses of similar location, size, style, age, lot size, etc.
After adjusting for your home’s unique features, your agent will assist in its proper placement in the valuation range according to numerous factors such as market strength, time of year, amount of availability inventory and interest rates among others.
In setting the price, we will discuss with you the effects of overpricing and underpricing as they relate to showing activity, percentage of the market lost by incorrect pricing, days on the market, and offers as a percentage of asking price..
The marketing plan for every home will be unique, but the starting point for the vast majority of homes will be entry in the Multi-Listing Service.
From there the listing will be syndicated to other listing services such as Realtor.com, REColorado, Zillow, Redfin others. This will give your house exposure to virtually all the agents in the Colorado Front Range area. We will also advertise it on social media including Facebook and Instagram.
From there, your plan will be designed according to your homes specific characteristics, and may include custom printed flyers, digital flyers emailed to local agents, a virtual tour(s), an open house, a broker’s open or a YouTube video. The plan will be monitored and modified as needed
Your agent will enroll your property in a professional showing service. All showings will be scheduled through the service which will notify you regarding the date and time of all proposed showing and update you if there are any changes.
You may elect to limit the showing as necessary for your schedule or lifestyle. For example, showings may be limited by day of the week, time of day or a specific calendar period.
It is important to understand that showing restrictions may have a marked effect on the number of showing that you receive. You may also choose the amount of lead time required before each showing. It is never necessary to be home during a showing. All feedback is delivered to your agent who will discuss with you as it is received.
When an offer on your home is received, your agent will review it with you in detail. There are many factors to be considered when evaluating an offer or choosing between competing offers. Price is usually the most important consideration.
If it is a full price offer, are there other conditions which should be considered before acceptance such as a contingency based on another property, concessions and closing date.
If it is less than a full price offer, should it be accepted as is, or should a counter offer be prepared? A full and careful analysis of every offer is necessary to assure the seller is accepting the best overall offer.
After the acceptance of an offer, there are still numerous steps to be taken before closing day. Most of these steps are the responsibility of the buyer, but the seller is involved is some of them.
For instance, the sellers may be required to provide HOA documents, or off record title documents or any existing surveys. Usually the biggest negotiation will concern any deficiencies found by the buyer’s inspector: what needs to be repaired and who will pay for it.
The closing normally takes place at the title company’s office. The closing documents--settlement statements, deed, deed of trust and bill of sale--will be usually be prepared by the title company and verified by your agent.
If the purchase will involve a loan, the lender will provide the loan documents and may send a loan officer to the closing to present them. Your proceeds from the sale are payable in several different forms including certified check, cashier’s check, title company check and wire transfer. Per contract, possession may or may not transfer to the buyer at the time of closing.