Just the other day I was at a listing presentation with a prospective client discussing how to sell his home faster than the other active listings during the Denver Colorado real estate housing slump. He of course wanted to know about our marketing strategy, communication plan, and competitive listings in the area and what I suggest for a listing price.
Most successful agents who practice selling real estate in Colorado full-time instead of part-time will deliver a comprehensive plan for marketing and communication, however, there are very few within the Denver real estate market that have the experience or skill set to analyze any market and determine the optimum price that will sell their client’s house in the shortest timeframe.
When evaluating your listing agent, it is important to pay attention to the marketing and communication plan, but it is absolutely imperative that your agent can recommend a listing price for your home and concisely illustrate the methodology to arrive at the listing price.
The analysis should illustrate the general market conditions of the area, inclusive of current market conditions, employment factors, increases or decreases in property values during a 36 month timeframe, owner vs. tenant occupancy and comparable units for sale. It should illustrate the marketability of the subject property inclusive of neighborhood value ranges, marketing time in the area, and specific comments regarding the positive and negative characteristics of the property that could affect the value.
If your real estate agent provides you the analysis illustrated in the paragraph above, you are working with an agent that is a step above 90% of the other real estate agents in the Denver CO real estate market. However, if you want your home to sell faster during a buyer’s market, you need an agent that will comprehensively evaluate the following characteristics of your home to arrive at the optimum listing price. Such market factors and home characteristics as seller concessions, days on market, neighborhood location, site size, front and back yard views, house style, condition, room count, basement finishes, heating and cooling features, energy efficient items, types of porches, patios and decks, fireplaces and basement types.
If all of the following home characteristics are evaluated and compared against three to six past neighborhood home sales and current listings during a twelve month time frame, it is without question that your agent will be able to recommend the optimum price to sell your house in the shortest time frame. Remember, 80% of selling your home in the shortest time frame is a result of pricing it at market value from the beginning.