Determine your goals and desired outcome: Once you’ve decided to sell your home, a number of other questions may come to mind. What is the value of your home? What are the current market conditions? How can the property be marketed most effectively? How long will the process take, and how should you proceed with future plans? Who will be able to help with contract and closing requirements? The selling process can be a complicated one, and having an expert on your side will allow you to attain top market value for your home and expedite the sale.
Interview and select a broker: As a seller, pricing and marketing aspects are very important. Everyone wants to make sure they get the best possible price and terms. Proper preparation goes a long way toward achieving that end.
Competitive market analysis: The brokers you interview will want to take a careful look at your property in order to gather information to help them estimate its value. This estimate is not an appraisal, but a competitive market analysis. This is a tool that will allow you to compare your property with similar, recently sold properties, and to determine your competition currently on the market.
Marketing strategy: How should your property be marketed? Multiple listing services (MLS), newspapers, yard signs, open houses, internet, etc? What kinds of advertising really pay off? What works for sellers in my price range? A broker who knows your area will be able to help you devise a marketing plan based on previous successes.
The listing agreement: The listing agreement is the written contract by which a property owner hires a real estate broker to market real property and provide services. A listing contract describes the property (address and legal description), the listing price, and the terms that are acceptable to the seller. The listing also outlines the compensation that the broker is to receive. A listing contract may specify a percentage of the selling price, a flat fee, or any other negotiated agreement that has been accepted by all parties as compensation to the real estate broker. Colorado brokers are required to use listing contracts approved by the Colorado Real Estate Commission.
Maximize showings: Your broker can give you beneficial advice about how to prepare your home for showings. Common sense applies, but a trained third party can help prepare your home in a way that maximizes your chance of making great first impressions. A thorough clean, a little touch up here and there, some fresh paint, or minor repairs can all help you attain a higher price and expedite the sale.
Counteroffer: An offer to purchase made by a prospective buyer has no limits on what price or terms it may contain. Having a broker on your side will help you in this process and ensure that you are getting the best possible price and the most favorable terms. The seller always has the option of accepting or rejecting an offer that does not meet their requirements. If the terms do not meet the seller’s requirements, then a counteroffer should be utilized as an attempt to compromise rather than dismissing a qualified buyer altogether.