Keep an eye out!

Your next property could be hitting the market today!

3 Best Practices to help you find your dream home

You have heard it a million times by now if you are thinking of making a move: “The inventory is lacking and it is really hard to find a home you want to buy!” Or you say: “I do want to move, but I’m not going to list my house until I find a house worth buying!” In this fast-paced market, you need a Realtor that is looking out for what you want and able to move quickly and efficiently to increase your chances of getting the house of your dreams. This breaks down into several steps:

  1. Buyer consultation first! You may be thinking that you want to hit the ground running and look at as many properties as possible since they don’t last on the market very long. This is the easiest way to waste your time and energy! The key to a successful purchase is actually taking a step back and really honing in the search into the things that are extremely important to you. Sitting down with a Realtor at their office should help define a clear plan and goal so that when the right house hits the market, you have a strategy in place to hit the ground running and lock up that home!
  2. After the buyer consultation, you should have several methods of finding homes. Not only are you going to go out and drive neighborhoods, but you will probably be searching several different public websites looking for possibilities as well. Hopefully the websites you are searching on are accurate and up to date so you don’t fall in love with a house that is under contract already or sold recently! If you have a great Realtor, you will also have an automatic search set up and the Realtor himself/herself will be scouring the MLS, previewing properties and contacting other agents in your preferred neighborhoods to find houses that may not even have hit the market yet.
  3. Once you find a home, you need an agent that can show you and your offer in the absolute best light. There are many strategies that help with this and a great Realtor will have many tools in their tool belt to go with your offer to increase your chances of getting it accepted. The Denver real estate market is user-competitive and having a concise and thoroughly completed offer package is crucial! Make sure your Realtor goes over your offer with a fine-toothed comb to make sure that the message is clear that you want that home. Don’t be afraid to put a lot of your cards on the table (not all of them – you want to be able to negotiate later)!

Please contact Justin if you are not already working with a top-notch Realtor and getting the results you want.

Contact Justin Phillips today to see what an award-winning Realtor can do for you!

Where are all the homes for sale?

I thought I would write a quick blog post about the lack of inventory out there for my buyers. If you have ever considered selling your home and either buying something bigger or moving out of state, now is definitely the time! I have five buyers actively looking for homes all round Denver down to Colorado Springs, and we are having quite a hard time! Properties are flying off the market and getting bid up way more than they are worth. This causes problems not only for buyers, but also for the sellers when they have to deal with being inundated by buyers and real estate agents and then figuring out what to do when their house does not appraise for the agreed purchase price. I just attended a great class about how to “help” the appraiser so that all parties to the transaction can move forward confidently.

When working with my buyers, I have several strategies to help them get their offer accepted over competing offers. Working with sellers, I help ease the stress that comes with the frenzy of buyers in this market by providing a simple breakdown of the competing offers and my professional opinion backed by 10 years of experience of what the advantages and disadvantages of each offer. I prefer to work in Jefferson County as I know that area best and that is where I spend most of my time, but I have clients all the way east out to the airport and south to Colorado Springs. Please call me if you or anyone you know has talked about selling their home – I would love to meet with them, and chances are I might already have a buyer for their home (which would save them money and time!).

Hiring a Realtor

Ask your Realtor lots of questions!

Ask your Realtor lots of questions!

Every good consumer knows that getting the best person to work for you, it is necessary to shop around. Here are some questions that you can ask when interviewing Realtors to decide who will best help you reach your goals.

  • How long have you been a Realtor?

While it helps to pick a seasoned professional, keep in mind that older is not always better. An agent that has been in the business for 20 years, may be so set in his ways, that he isn’t using new technology and may actually hinder your real estate goals. Also, don’t discount brand new agents either. New agents may offer a fresh perspective as well as having a well-qualified mentor watching their every move to make sure you are well taken care of.

  • What is your average List-Price to Sales-Price ratio?

A real estate agent should know his market well enough to be able to negotiate down the price for his buyers while negotiating up the price for his sellers.

  • What is your best marketing plan for selling my home or what strategies do you have to help me buy a home?

A strong marketing plan for a seller will help them sell their home faster and for the most money. Sellers should ask:

  1. What sets you apart from other listing agents?
  2. What is your online marketing strategy?
  3. What printed advertisements do you use?
  4. How many listings do you have typically?
  5. What is your availability for showings, open houses and answering my questions?

Buyers should ask:

  1. How will you search for my new home?
  2. What is the process for purchasing a home?
  3. What strategies do you have for submitting offers?
  4. How competitive is the market and how do you handle multiple offers?
  • Do you have any references?

Make sure those references aren’t related to the broker and that you can contact them.

  • What are the top three things that set you apart from your competition?

This should be an easy question for the broker, but make sure their answers are qualities that you value most in a Realtor.

  • Will you help with the contracts?

There are a lot of contracts and agreements in real estate and it really helps when your agent knows the contracts inside and out. It helps also if your broker can send you the contracts before you need to sign them.

  • How is your referral network?

There are a lot of people involved during a real estate transaction as well. Ask your Realtor if they have a good referral network and trusted professionals they choose to work with the most and why.

  • How much do you charge?

All fees are negotiable in real estate. Ask how much the real estate agent charges for their services and who pays them. In Colorado, the seller typically pays both brokers in a transaction.

  • What kind of guarantee do you offer:

If you sign an agreement to hire a broker, and then find that it is not a good fit, can you cancel the agreement? You need to make sure your broker will provide you the best service they promised or you should part ways. Has the broker ever had a client cancel an agreement before?

  • What else do I need to know that I haven’t asked?

Buying or selling a home is a very big event in your life. Make sure your broker is taking the time to educate you and really listen to your needs so they can better help you.