Essential Tips for Selling your Denver-area Home

Congratulations! You’ve decided to sell your home.

Perhaps you're taking a job in a new community and you need to sell. Maybe you've outgrown your existing home and you need to move into something larger. Perhaps your family has grown up and moved out and it is time to downsize into a smaller home. What follows are some useful hints and ideas to make the selling process easier.

Tip 1 – It is a Complicated Market – A Plan is Essential

When you put your home on the market, a real estate agent may compile comparative pricing of homes in your area, post a sign in your yard or place your home on the Multiple Listing Service (MLS). This is just the beginning, however. A detailed marketing plan should be created that starts with your goals and objectives (e.g. Sell fast? Sell for maximum $? 1031 Exchange?), and maps out a strategy for you will achieve those results... and at what expense.

Tip 2 - Pricing Strategies

Pricing your home is a complex task that requires the expertise of an experienced real estate professional. Consider the following:

• If the listing price is set too high, potential buyers may be deterred from considering your home.
• Arriving at the optimal price requires evaluation and understanding of current market conditions, and the marketable features of your home.
• The closer your home is priced to fair market value when it first comes on the market, the more likely it will sell quickly at the highest price.
• The higher your home is priced above market value, the fewer number of buyers will look at it.
• We will advise you of many factors when assisting you in determining a listing price for your home. Some of these factors include:
• Determining the selling price of recently sold properties with attributes similar to yours.
• Arriving at a listing price that is attractive enough for buyers to request showings and make acceptable offers.
• Determining what properties are competing for the attention of buyers right now.
• Determining what properties have not sold. This is a good indicator of what prices buyers are unwilling to pay under current market conditions.

To find out the potential value of your home, click on the Lets Get Started! link on the left.

Tip 3 - Bringing Buyers to Your Home

Understanding where buyers come from allows agents to market your home more effectively. While buyers use a variety of information sources to learn about homes for sale in their target neighborhood and price range, the vast majority will discover your home with the assistance of a real estate professional. According to research by the National Association of Realtors®, 72% of Internet home buyers and 63% of traditional buyers were first exposed to the home they purchased by their real estate agent. Therefore, we will use a comprehensive plan that includes networking with colleagues throughout the area to position your home to the right buyer. Staging your home for sale is another important topic that is covered in another Tip below.

Tip 4 - Marketing Your Home

The more exposure your home receives, the more opportunity you'll have to achieve your financial and time-oriented goals. In addition to Internet and print media advertising, you can attract qualified buyers by using the following methods:

• Property Flyer - prepare a professional marketing sales tool including graphics and highlights of your home to distribute to the brokerage community and potential buyers.
• Multiple Listing Service (MLS) - Information about your home should be included in the Multiple Listing Service, a database of currently available properties accessible by real estate professionals.
• Other Brokers - Cooperate with and invite other brokers in the community to tour your home in order to find a buyer.
• Relocation connections - Prospects for your home also come from relocation services, corporations, executive search firms and fellow associates who keep track of potential buyers and maintain relationships with former clients.
• Referral Network - Sales meetings allow sales associates to present new listings. Other sales associates then refer to their client databases to identify potential buyers and arrange viewing appointments.

Tip 5 - Skillful Negotiation

When offers are presented, this is the key opportunity to help obtain the best possible price and terms. Just as it is important to understand the myriad negotiation techniques employed in the business, it is important to understand the vast array of standard contract forms and contractual issues that you will encounter. Making sure buyers are qualified and knowledgeable about available financing alternatives is of the utmost importance in negotiating a successful sale. Your agent should promote your interests and assist in developing a clear and binding contract.

Tip 6 - Transaction Management

Many details must be attended to before a sale becomes final, including inspections, loan documents, contingency removals, and insurance. An agent should handle scheduling inspections, reviewing documents, and making sure all of the required disclosure forms and pamphlets are provided in a timely fashion.

Tip 7 - Preparing Your Property

Fully preparing your home for sale can make a considerable difference in the time it takes to sell it. You can help eliminate buyer objections before they arise by making necessary repairs and improvements, some of which are suggested below:

Grounds

• Spruce up your garden and lawn; trim shrubbery and replace dead plants
  Yard and patio should be neat; outdoor furniture should be clean and in good shape
• Clean or paint your front door - remember first impressions last the longest!
• Manicure your front yard; make sure your driveway and entryway are free of clutter

Exterior

• Check that house numbers, mailbox, and exterior lighting are all in good condition
• Touch up with fresh paint as needed
• Inspect chimney for cracks or earthquake damage
• Repair loose trim, drain pipes, and fencing
• Clean stains and window screens

Garage

• Remove clutter and tidy up the shelves
• Clean the floor

Overall

• Apply fresh paint as needed. Think about brightening your interior with neutral-toned paint
• Clean draperies and carpets
• Replace burned out light bulbs
• Clean the fireplace and remove smoke stains from the wall and mantle
• Remove photos of your family and ‘super-personal’ items. You want the visitor to envision it as THEIR home, not yours

Kitchen

• Sinks, appliances and counter tops should sparkle; remove any clutter.
• Wax the floor
• Clean the oven range and other appliances
• Clean tile and grout; replace if necessary

Bathrooms

• Clean mirrors, glass, chrome and porcelain surfaces
• Replace shower curtain if necessary
• Fix any faucet drips or leaks
• Clean grout and caulking; replace if necessary

Closets

• Doors and drawers should open and close easily
• Remove clutter; tidy up shelves and racks
• Clothes should be neatly arranged

Indoors

• Check the basics around the house. It takes just a minute to check all doors, windows and cabinets to make sure they don't stick, squeak or are too loose
• Clean your furnace and water heater so buyers know they are looking at a house that has been well maintained