Methods used in Selling of your Home:
- List your Home with the MLS within 24 hours of having a signed listing Agreement.
- We provide professional photos of your home.
- Prepare a Showcase Video of your home to display as our “Featured Property” on our website and for use on other National websites.
- Prepare marketing materials about your home.
- Distribute the marketing materials.
- Notify your neighborhood about your home.
- Hold Open Houses as appropriate.
- Notify National Referral Companies in the Metro Denver area.
- Cooperate with ALL Real Estate Agents.
- Providing yard signs and Brochure boxes in your front yard.
- Advertise home: media and frequency depends on property and market.
- Prepare Property Profile report to be available to Buyers as they visit Home.
Selling a House is a process of resolving many conflicting demands to your advantage!
To assist you establish a PLAN to sell you Home, we have come up with a 7 step process that will help you sell your home at the Highest Market Value in a time frame that meets your requirements.
7 Steps to Selling your House
1. Are you Ready to Sell?
2. Select a Realtor
3. Determining the Listing Price
4. Marketing Your Home – Includes professional Photos & Video!
5. FAQs – Frequently Asked Questions
6. Negotiating / Accepting the Offer
8. Closing / Move Out
Step-1: Are you Ready to Sell?
You are ready to Sell when:
- You have completed your fact gathering process.
- You are confident that your interests will be represented to your advantage.
- You are comfortable with the Realtor® you have selected to work with you.
- The selling plan you have developed meets YOUR needs!
Step-2: Select a REALTOR®
The terms Agent, Broker and Realtor® are often used interchangeably – BUT have very different meanings. In Colorado, a person must be licensed in order to sell Real Estate. Standards set by the State cover the minimal education, examinations and experience needed to become licensed. After receiving a real estate license, the better Agents join their Local and National “Association of Realtors”, the world’s largest professional trade association.
Only after joining the Association and subscribing to a strict “Code of Ethics” (which goes well beyond state law) can the real estate Agent be called a Realtor®. It is through the Realtor Association that the Agent agrees to collectively share the information on all houses listed for sale. This is done through the local MLS or Multiple Listing Service.
We pledge to you the strongest marketing effort not only locally, but nationally and internationally through our website and numerous other internet marketing outlets which we network through. As your Realtor®, it is our job to get your house sold! We never lose site of our mission.
Step-3: Determining the Listing Price
Establishing the Listing Price to ask for your Home, is one of the MOST important steps you will take. If your price is set too high (even in a very strong sellers market) you will not get an offer. If you set it too low, you will effectively be giving away your money. Establishing a price balancing between these two Pricing levels will be our objective.
We will provide you a complete CMA or Comparable Market Analysis, prior to establishing a listing Price for your Home. This report will show you both actual sale of properties similar to yours plus it will show you what homes are currently on the Market in competition with your home. You will be provided with a list of Homes, most comparable to your home in terms of square feet, year built, condition of the Home, proximity to you home, lot size, date of sale or time on the market. When appropriate, we will set showings on homes in your neighborhood and actually visit these homes with you prior to setting your price. We will also provide guidance to establish a Price point which will meet the requirements of Appraisers. Remember that MOST homes acquired will have a Mortgage Lender who will insist on an independent Appraisal prior to Financing a Buyer for your Home.
During the process of finalizing the Listing Price, we will prepare a “Net Cash Available to Seller” analysis for you. This will let you know the cash you may expect to have available to you after the close of sale for your home.
What’s your Home Worth?
Find out by filling out this market analysis request form.
Step-4: Marketing Your Home
Consideration of Current Market Conditions for your home:
- Are home prices in your area trending upwards or downwards?
- Are homes selling quickly or languishing?
- Will your home be on the market in the spring home-buying season or the dead of winter?
- What are current interest rates for mortgages?
- Will you be selling in a Buyers or a Sellers market?
- Is the local job market strong or are employees fearful of staff reductions?
- How motivated are you for a quick sale?
- Is it necessary for you as Seller to provide “incentives” such as a “pre-home sale” inspection, Home Buyers Warranty, financing assistance, Selling Agent bonuses? Many of these factors will be weighed in the First Step in marketing you Home – STEP 3 Determining the Listing Price.
Setting the Stage to Sell your Home:
Consider what you look for when looking for a home to purchase – Visual appearance, odors and noise all factor into your impression. Imaging yourself walking up to your home as though for “the first time”:
- What do you notice?
- How do you feel about what you see?
- Is the home inviting?
- Is the home well-maintained?
- Would you be inclined to buy this home?
We create a beautiful showcase video to help
SELL YOUR HOME!
Step-5: Frequently Asked QuestionsOnce we establish the Listing Price, can the Price be changed?
YES – The initial listing price is only the start. If you find your are getting “overwhelmed” with showings, we may decide to raise the Price before an offer comes. Conversely, if few showings and no offers are coming in, we may decide to lower the Price. Market conditions constantly change, you have the flexibility to meet these changes.
Should I be available at the Home when potential Buyers visit?
NO – When potential Buyers tour your home, they are there for the purpose of determining if your home meets their needs. As a general rule, they are with their Agent and wish to be totally unencumbered to speaking objectively about the home with their Agent. Your presence can prevent Buyers from speaking openly about their impressions or to ask questions they may have.
How effective is it to have an Open House?
DEPENDS – Many factors are at work here. Generally, it is always good to have a few Open Houses. This is especially true when coordinated with a mailing to your entire neighborhood and/or newspaper advertising, prior to the Open House. It is also helpful in more remote or less frequently traveled areas.
If I don’t have an acceptable Offer within the first 30 days, What does that imply?
DEPENDS – How many showings are you getting? How many other homes in your neighborhood are selling, Have interest rates or other economic conditions changed in your area? What is the time of the year? Has your home been entered into the MLS and been given national exposure through the internet? If you are not getting activity after 30 days, you need to seriously review the initial marketing considerations and efforts.
What expenses am I responsible for when I sell my Home?
Title insurance policy; payoff of your existing mortgage(s) including prepayment penalties, if any; Broker’s commissions; unpaid property taxes for the current year; repairs which you have agreed to do; other miscellaneous items which you have accepted to pay.
Do I have any Security concerns about letting potential Buyers visit my Home when I am not here?
It is strongly recommended that you NOT leave jewelry or other valuable items visible for Buyers visiting your home to see or take. While each Agent arranging for a visit to your home with a Buyer will be identified and registered, it is always best to avoid the problem of “tempting” anyone visiting your home.
When I receive an Inspection Report from the Buyer with a list of items to be corrected, am I obligated to fix all of the requested items?
All inspection items fall into one of two categories: 1. Health and Safety issues and 2. Cosmetic issues. Generally, health and safety issues should be repaired; “cosmetic” items require a judgment call. If you don’t complete the Health and Safety issues, the Buyer will void the contract and you will be faced with the same issues with the next Buyer. Cosmetic items are a function of cost and ease with which you can find a new buyer without fixing the items listed. Many times, the issues can be resolved by agreeing to a monetary settlement, with the Buyer actually having the work completed.
If the Appraisal prepared for the Buyers Financial Institution does not support the agreed Sale Price, What happens?
The first step is for us to discuss the basis for the Appraisers opinion with the Appraiser. If we cannot reach a satisfactory solution, then either the Buyer is required to come up with a larger down payment or the Seller needs to agree to reduce the price. If all else fails, then the contract will be void, and the marketing efforts to find a new Buyer continue.
What does it mean to have a “Cloud on the Title”?
During the closing process on the sale of your home, Seller is required to provide a Title Opinion stating that Seller does in fact have the ability to convey Title in the property being sold free and clear to Buyers. If during the examination of Title, it is discovered that an encroachment, lien or easement on the property has been placed of record; it is said to place a “Cloud on the Title”. These items must be resolved prior to completing the sale of the property.
I have read newspaper article’s refer to the Median Price of a home vs the Average Price of a home, what is the difference?
These statistics are often referred to as a means of indicating the trend of the housing market pricing. The median price is the midpoint of all homes sold in a given period. Midpoint means half the homes sold for higher prices and half the homes sold for lower prices. The average price of a home is calculated by adding the price of all homes sold and dividing by the number of homes sold in the same time period. In a given period, the average home price may increase if fewer but more expensive homes sold, while the median price of homes may not be appreciating. It is helpful to understand the difference when establishing a price for your home.
What is the difference between the Square Feet of my home and the Finished Square Feet of my home?
Square feet as generally defined in the Metro Denver area of Colorado includes all the square feet “above ground”. Basements are not included the stated square feet for a home. If all or a portion of the basement is finished, this amount of square is added to the square feet of the home and is called the Finished Square Feet. The one notable exception to this rule is a “walk-out” basement, in which case the finished square feet may be included in the square feet of the home.
What is the Seller’s Property Disclosure form?
This form is required to be completed by the Seller of a home, and MUST be provided to any Buyer at the time a Purchase offer is accepted. The Seller is required to provide notification to Buyer about the condition of his home including ALL KNOWN material defects.
Am I affected by the Lead Base Paint disclosure rules?
If construction of your home commenced prior to January 1978, you are required by HUD to compete a Lead Base Paint disclosure form prior to entering into a Contract for the Sale of your home. The penalties for not doing this may be sever and are established by federal statue.
How do I determine the Taxable Gain on the sale of my home?
This is a matter for you to discuss in detail with your tax advisor! As a GENERAL RULE, the gain on the sale of your home is determined by subtracting from the sale price of your home, net of closing costs and commissions (excluding payoff of financial encumbrances) the price at which you bought the home plus any “capital improvements” you have subsequently made to the home prior to closing on the sale of the home. Many other factors affect this calculation, especially if you rented the property for a period of time while you owned it.
What is the difference between a Listing Agent and a Selling Agent?
The LISTING Agent is the Real Estate Company (or individual) you select to represent your interests exclusively in the sale of your home. The SELLING Agent is the Real Estate Agent which actually brings a bona-fide Buyer with a Purchase Offer to Buy your home. Usually, the Listing Agent and the Selling Agent are two separate entities, although both the Listing and Selling Agent may on occasion be the same.
NOTE: The questions and answers above are provided for your general information only. We do not provide Legal or Tax advice. You are strongly recommended to seek Independent Legal or Tax advice for any matters pertaining to your specific circumstances and conditions.
Step-6: Accepting an Offer / Due Diligence
Once you receive an Offer on your home, we will review all the terms and conditions of the Offer with you. If any of the terms or conditions of the offer are different than the terms indicated in the MLS and are not acceptable to you, you have the right to Counter the initial Offer made with terms and conditions which meet your requirements.
Through this process of reviewing, countering and/or accepting the Purchase Offer, we will work closely with you to maintain timely responses and provide market savvy answers to your questions as they come up.
Once the Purchase Offer is Countered and accepted, the clock starts running for many items needed to meet the requirements of the agreement and your protection. We will immediately order the Title Opinion to be delivered to the Buyer. As the Buyer completes his requirements, we will be sure to review the results of the Appraisal and the inspection report for your benefit.
If, for example the results of the Inspection Report are not reasonable, you will have the option not to perform any requested items, thereby giving the Buyer the option to waive the items listed or to void the Contract. We will be available to advise you on all such matters along the way to closing.
Step-7: Closing / Possession
Closing on the property is usually handled by the title company which issued the title opinion. The Seller have the choice of selecting the title Company used. We will be with you to provide answers and assistance for you during this process which usually takes from 30-90 minutes. We will be sure to review all settlement statements for you as Seller for accuracy and reasonableness.
Time of possession is established at the time of negotiating the original offer. In Colorado, it is customary for the Buyer to take possession at closing or up to 2 days after closing. If the Seller wishes to stay in the home beyond these dates, this is negotiated between the Buyer and the Seller and involves a rental fee payable to the Buyer after closing.