Selling a Home

Click above to view a video we created for of our listing at 576 S. Elizabeth Street in Polo Club.

Every home is unique, special and extraordinary in its own way, regardless of list price. It is with this attitude that we approach selling real estate.

As your Seller’s Agents, we will work solely on your behalf, representing only you – the seller. We will promote your interests at all times. We will act as your advocate and negotiate on your behalf.

We understand Denver’s real estate market and take great pleasure in bringing to life all the qualities that make your home unique. We will believe in your home. We will share our experience, our creativity, our sense of urgency and our energy.  And we will be happy to provide an analysis of the market value of your home and a strategic marketing plan customized to sell your home quickly. 

OUR RECOMMENDED READING…

Live Denver Real Estate

Why Your First Offer is Usually Your Best Offer

There’s an old real estate rule of thumb that the first offer you receive is usually the best one. I’ve run into this with several listings where the seller received an offer early on, made a stiff counteroffer back to the buyer and the buyer headed for the hills. In some cases, as much as 24 months and several price reductions later, another offer finally came in only to be significantly lower than the first buyers’ offer.

While your first offer may not be what you were hoping for, it is a good idea to consider several things when choosing how to respond to that offer. Length of time on the market, time of year, initial asking price compared to the price recommended by your agent, and current competition should all be taken into account when determining whether to accept, reject or counter the first offer you receive.

It may be tempting to hold out for a better price, especially in the first few weeks that your home is on the market when there is a high volume of showing activity. However, that activity typically wanes after about three weeks, at which point the buyers who have been waiting for “just the right house” will have already considered your property. Buyers rush to see new listings, and if it’s the best thing they have seen they will probably make an offer. Most of these buyers have been at it for a long time and know the values very well, in some cases understanding market realities in their price range even better than realtors who have been tracking a broad market. Therefore, an offer received in the first few weeks on the market is probably appropriate to current conditions and worth serious consideration. Comparing the offer to your realtor’s initial price recommendations can help you decide what action to take.

After the first several weeks, the activity that remains is buyers just entering the market. Since they are at the beginning of their house hunting, they generally have more time to look and are less motivated to act quickly. They are less educated about the market than those who have been shopping for a long time and will err on the side of caution when making their offers, especially in a buyer’s market. Consequently, offers will more likely be lower than early on.

Time on the market erodes value as well. The longer a house is listed for sale, the less interested buyers and Realtors are in the property. People will begin to wonder what is wrong with the property, and even if they like it will offer a lower price so they won’t lose money if they end up having to sell.

Be sure to consider the opportunity costs. While your first offer may be lower than you had hoped, every month you keep the property is another month you must pay mortgage, taxes, utilities, and insurance for a home you are hoping to leave. These costs can add up quickly and end up costing you more in the long run.

Time of year is another factor that can affect the offer. Your offer in March or April will most likely be much higher than in September or October. Sellers who were optimistic in the spring will be lowering their prices quickly to try and sell.

The bottom line is that you are never in a better position to get the best price for your home than when it is fresh on the market. Even if the offer and subsequent negotiations are less than you are hoping for, don’t kick yourself months or even years later wishing you had taken the offer. That real estate rule of thumb stays true: your first offer is usually your best.

Copyright © Shawn Buryska

What Home Sellers Can Expect…

We will do our best to price your home correctly.

It is the market, not the owner or real estate broker, that determines the market value of a home. In our current environment, what was a comparable neighboring property that sold six months ago may no longer be comparable.  Let us interpret the market for you and help you make the most educated decision about pricing your home to sell.

We May Recommend Staging.

Staging is about strategic editing and depersonalizing, rather than decorating. Buyers are looking for a home that is welcoming, peaceful and organized rather than one that is decorated in YOUR distinctive, personal style.  They want to imagine their new life in their new house with their belongings – not yours.  Through staging, we strive to make your home appeal to the highest number of potential buyers. Buyers will form opinions about your home first online and then in person — within the first 10 seconds of their visit.  A home staging study by Duke University identified the most important action items for Sellers to consider when preparing their home for Buyers:

  1. Remove personal items (especially toothbrushes, used bars of soap, razors)
  2. Use rooms for intended purposes
  3. Remove evidence of pets
  4. Turn on all lights during showings
  5. Show your home furnished, not empty
  6. Remove personal photographs

As part of our service package to you, we will provide you with a complimentary customized plan including an estimate of costs to stage your home and enhance its appeal to the most possible Buyers.  Staging is one of our strengths, let us share our expertise with you.

We will market your home strategically.

What do you love about your home? Is it historic?  Does it have magnificent mountain views? Is the backyard perfect for entertaining? Our customized marketing program varies according to home, but always maximizes exposure via the internet and our own database of local tactics.

We will offer you marketing at the highest exposure level.

Our local expertise combined with the worldwide reach of Sotheby’s International Real Estate. Please allow us to present you with a customized marketing plan designed specifically to sell your home.

Because 92% of homebuyers use the web when researching properties, we are very focused on smart internet marketing.

The strategic partnership LIV Sotheby’s International Realty has with the Wall Street Journal.com and other websites will extend the visibility of your home locally and globally.

We will offer you marketing at the highest exposure level – our local expertise combined with the worldwide reach of Sotheby’s Real Estate branding.

We will communicate with you every step of the way.          

We will keep you informed through every step of the sales process. Period.

  1. Showing feedback report
  2. MLS update emails including newly listed homes, homes that are under contract and homes that have sold in your neighborhood
  3. Weekly online showing report
  4. Update meetings or conference calls
  5. Calendar of important transaction dates once your house is under contract

Yes, the listing price you place on your home will influence its sale, but there are other factors that come into play. Some are out of your control (location, economy, “sold” prices of your neighbors’ homes). But some factors are within your control – your home’s condition, its distinctive attributes, its ready access for showings and the real estate broker you choose to represent you. Choose wisely.

Every home is unique, special and extraordinary in its own way, regardless of list price. It is with this attitude that we approach selling real estate.