In This Day And Age Are Real Estate Agents Really Necessary?

With all of the online tools, websites and advice for home sellers and buyers, is it really necessary to hire a Realtor?

The short answer to that question is a resounding yes. The internet can only tell you so much and it certainly can’t show your home, take you to homes to see and In This Day And Age Are Real Estate Agents Really Necessary?facilitate settlement when you sell or buy your home.

As it’s been said, when the going gets tough, hire an expert… or something like that. But really, why would you undertake such a huge financial and legal undertaking without being educated in the ins and outs of such things?

A Realtor knows the local market

They know how to negotiate at all phases of the process. They know how to value a home beyond number of beds, baths and square footage. They understand most types of mortgages and home financing, or know someone who is reliable that can help you should you need that type of assistance.

Now let’s talk time

Do you have the time, over and above your day job, family responsibilities and so on, to stage your home, list it with MLS and other websites like Zillow or Realtor.com, take all the phone calls, schedule showings, read/understand/respond to offers, schedule inspections, schedule settlement and all the paperwork a settlement entails, do the walk-through and finally hand over the keys?

Do you have the time to search the internet for homes to see, call the listing agents, schedule showings, write up an offer, read over the inspection report, renegotiate repairs, review the title report and all of the settlement papers?

Experience Matters

One last thing to think about! In your lifetime you may buy and sell 5-10 houses (maybe a few less, maybe a few more). For some of us, that top end is a really slow YEAR!

Realtors spend all of our time negotiating, researching, talking on the phone and getting educated about real estate. The business of buying and selling homes is our life and when you hire a Realtor, you get some of that dedication and determination just for your home!

Selling Your Home – Be Sure To Pick A Salesman Not A Consultant!

Have you heard the idea that your Realtor needs to be your consultant? Not a good idea. You need your Realtor to be a salesperson. Consulting with you is one thing, but being in consulting mode when you really need a salesperson to represent your interests isn’t a good thing.

A good Realtor

Selling Your Home – Be Sure To Pick A Salesman Not A Consultant!A good Realtor needs to be a good salesperson. Not just to sell your home either. But let’s not get ahead of ourselves. Yes, they need to be ready to sell, hard sell if necessary, to find the best buyer and get them ready to buy.

From open houses when you have to sell the merits of your home to other agents, to showing your home to prospective buyers, they need to be able to handle questions, handle objections, make them need your home, not just want it.

Once they make an offer the salesperson needs to stay and handle the negotiations. What is a good offer to take and when you should push back for more.

As a buyer you need a strong salesperson as well

Your consultant will listen and then start looking for the best home for you, but then the salesperson must go to work.

They need to help you offer the best price and then push back when the counter offer is too high. They need to push for concessions and get the best deal for you.

After the contract is signed, the salesperson isn’t finished. He or she needs to make sure that they can sell the appraiser the bank sends that the home is worth at least what you offered, if not more. They need to sell the home inspector on the merits and if there is anything found, sell the seller’s agent on the need for more concessions because of the report.

So don’t look for a consultant in your Realtor, find a salesperson!

Why The Market Slowing Down Is Good For Denver Real Estate

The real estate market in Denver has slowed down, but that’s a good thing. It sounds counterproductive, but for buyers and sellers, it is a good thing and here’s why.

Puts homeownership within reach

Why The Market Slowing Down Is Good For Denver Real EstateFor buyers it means that homeownership is within reach again. In a slower market home prices are lower. That’s great for buyers, obviously.

What makes it good for sellers is that they don’t have to rush to market. Knowing that they aren’t “missing out” on a hot market means that they have time to get it right. Updates can be made, and they can take a week or month to get their home in the best shape ever.

For a seller that means the best price for their property.

More time and less worry

In a slower market there are fewer frantic buyers buying anything and everything just because it may not be there the next day. Not great for sellers, obviously. But for buyers it means they can take time to see more homes and find the right one, instead of feverishly buying SOMETHING because it may disappear from the market the next day. With that also goes the bidding wars. Having more time to decide without the worry about being outbid.

Better price negotiations

A slower market also gives a buyer more negotiation room for buyers and sellers. For sellers a slower market means less competition. That will help with price negotiations. For buyers it means you can also negotiate price, but with it you can negotiate in repairs, closing costs and other concessions.

Don’t give up your dreams of homeownership or selling your current home because of a slower market. It can be a great thing for you as a buyer or a seller. Call your Realtor today and ask how they can help you.

3 Places To Buy Investment Properties In Denver

Denver has lots of different neighborhoods and each has their own character. Whether downtown, in the towns surrounding or further out, each are great places for investment properties.

College areas

3 Places To Buy Investment Properties In DenverOne great place to look for an investment property is around colleges. Colleges offer a slew of opportunities for tenants. College students often look to off campus housing to make college more affordable. Not all are party animals who will destroy your property. In fact most landlords find that students tend to be better tenants than others.

While it may mean faster turnover, students may only stay a year or so, there is always another class of students coming to town. So purchasing a home, town home, condos or apartments, students will jump at the chance to live independently off campus.

Find out more about area colleges: 5 Best Colleges In The Boulder Denver Metro Areas

Nearby suburbs

Other places just outside of town can mean great properties for families. Think of the nearby suburbs that have great schools, close shopping and parents who will be working in Denver.

Of course, there are also the wonderful opportunities in the suburbs or just further out. Some great suburbs to check out are Westminster, Broomfield and Brighton in the North and Parker or Lakewood in the South.

Executive rental properties

Larger estate properties that will make fantastic executive rentals. The properties must be top notch and equipped with the latest and greatest updates, technology and amenities. Executives expect no less and will pay through the nose for it. Although you may have to invest more money into the property, you will definitely make it back in rental revenue.

Find out more about Denver Executive Rentals

Denver has great places to make your mark as a real estate investor. Look at who you may want to have as a tenant then go find a great Realtor to help you find the property you need.

Why The Market Determines The Price of Your Home, Not Your Realtor

If you’ve ever sold a house, you know that pricing it is mysterious. Did you know that while it seems that your Realtor pulls the price out of the air, he
Why The Market Determines The Price of Your Home, Not Your Realtoror she doesn’t? Your Realtor doesn’t determine price, the market does. A good Realtor just knows how to use the market to price your home. They use something called comparable sales.

Comparable sales

Comparable sales or market comparison, shortened to comparables in the real estate business, are recent sales of homes that are similar to yours. It’s a method that is used by professional, licensed real estate appraisers for appraising single-family houses. It uses actual sales amounts for recent sales, not things like cost to replace the home, tax assessment values, similar listings, what it sold for when you bought it or what your neighbor says they think its worth.

Comparable sales may or may not be in your neighborhood. Unless you live in a cookie cutter neighborhood, where every house is the same size, values will be all over the map. Your 1500 square foot home on a half acre may be sitting next to a 2000 square foot house on an acre, or next to an 800 square foot bungalow on a tiny lot. Your house may be updated to the nines, but your neighbor two doors down may not have touched their home in 25 years.

Use homes that sold in the last 6 months

You should only use homes that sold in the last 6 months, in similar neighborhoods and close to yours. The homes compared should be similar in age (within about 5 years), size (within 300 square feet) and lot size. A comparable should be in the same area, but not necessarily the same neighborhood. Then check their past listing information to see if the home is as updated as yours, more or less. Then you can go through the process of figuring out the price per square foot of each similar home and use the average to find out the price per square foot of your own.

Appraiser

Or you can hire a professional to do it for you. An appraiser can provide the same comparable information for you… for a price. Your best bet is to ask a Realtor. They have access to the information and know how to get to a fair market price for your home.