Frequently Asked Questions
Why use a Realtor® when selling a home?
When should I sell?
How can I improve my homes value?
How do you determine what my home is worth?
What is an acceptable offer?
How will you market my home?
How do you negotiate?
Selling a home requires a lot of marketing savvy and experience pricing and selling homes. An experienced, full-service broker can offer you skill sets that can make the difference between a successful sale and one that fails - or never materializes.
Choose a broker that understands your concerns and is dedicated to marketing your home both through advertising and networking with selling brokers. When interviewing brokers, ask how long they have been in the business, what kind of properties they specialize in, make sure they have a strong marketing plan, and a great reputation in the business. Listen carefully to their presentations and then select the broker you feel will best represent you.
When should I sell?
Generally speaking, markets tend to have some balance between Buyers and Sellers year-round. In a given community, for example, there may be fewer Buyers in late December, but there are also likely to be fewer homes available for purchase. So, home prices tend to rise or fall because of general demand patterns rather than the time of the year.
Many people start the new year off anxious to make a change, and in general, people who wish to sell listing properties for sale in the early spring and as the season warms up, there is generally an increase in both the number of Buyers and the number of properties for sale. The marketplace tends to be more active in the summer because parents want to enroll children in classes at the beginning of the school year, so summer is typically when the most homes are likely to be available. This is not to say, however, that the odds of selling a home are lower in the winter. With fewer house available, and fewer Buyers, those who must buy are still going to buy.
Owners are encouraged to sell when the property is ready for sale, when there is a need or desire to sell. There is no "right time."
How can I improve my homes value?
The general rule in real estate is that Buyers seek the least expensive home in the best neighborhood they can afford. In terms of improvements, this means you want a home that fits in the neighborhood but is not over-improved. For example, if most homes in your neighborhood have three bedrooms, two baths and 2,500 sq. ft. of finished space, a property with five bedrooms, more baths and far more space would likely be priced much higher and likely be more difficult to sell.
Improvements should be made so that the property shows well, is consistent with the neighborhood and does not involve capital investments, the cost of which cannot be recovered from the sale. Furthermore, improvements should reflect community preferences.
Cosmetic improvements - paint, and landscaping - help home "show" better and often are good investments. Mechanical repair - to ensure that all systems and appliances are in good working condition - are required to get a top price.
Ideally, you want to be sure that your property is competitive with other homes available in the community. We are happy to make suggestions that will help you maximize the value of your home without large capital expenses.
How do you determine what my home is worth?
Many Realtors simply select similar properties to arrive at the value of your property. At Meridian Properties we have developed a propriatary Market Evaluation which compares several markers of value from comparable properties to arrive at a suggested sales price.
Our analysis begins by locating both Active and Sold properties that best mirror your own property in size, style, condition, amenities, and location. We then compare the price per square foot, multiple of assessed valuation, and multiple of actual valuation to arrive at a high, low, mean, and median price for both active and sold properties to determine a price range for your home. Once that range is determined, we will suggest what we feel is the best price at which to market your home based on the results of our findings.
When all of our calculations are completed you will be given a complete review of the results. With our sellers input we then determine a price that best suits their needs and expectations.
What is an acceptable offer?
The goal of every Seller is to have their home sold in as short a period of time for as much as the market will bear. In a perfect world, Buyers would make full price offers, there would be no repairs needed to the house, every Buyer would be over-qualified for a loan, or come with cash in hand.
But in the real world, many factors are at play - including the Seller's willingness to wait for the "perfect" offer. Here are some things to consider:
- Is the offer at or near the asking price?
- Is the Buyer qualified to secure a loan and complete the purchase?
- Is the Buyer asking for special allowances or expensive repairs?
- What is your position as the Seller? Do you have other pressing financial issues? How long can you wait?
- What is the alternative to the Buyer's offer? If there has not been another offer in months, the Seller needs to determine if a better deal is possible.
- How long has the property been on the market?
- What if no other offers are forthcoming?
How will you market my home?
Marketing your home and getting it sold in a timely manner depends on both visible and behind the scenes activities.
The Basics
- Install a sign and lockbox on your property
- List your property on both the Boulder and Denver MLS systems
- Deliver copies of the MLS sheets and disclosures for your property in a display box for the convenience of showing brokers and their clients.
- Prepare a flyer describing your home that clients can take with them to make your home more memorable
- Place your home on our web site
- Have a professional photographer prepare a video tour that will be available on both public and private MLS listings and our website
Advertising
Meridian Properties has an in-house marketing staff and very aggressive advertising program. You can expect that we will:
- Prepare a "Just Listed" postcard to alert your neighbors about the availability of your home. Very often people who nearby have friends or family who may be interested in living in the same area that they do.
- Include your home in our regular advertising program that includes:
- Daily Camera ads (Sunday Real Estate section cover ads and Monday Business Plus ads)
- Boulder Broker Network ads
- Boulder County Business Report
Networking
Networking with other brokers is one of the most important things we do. Our affiliation with the Boulder Brokers' Network ( www.boulderbrokersnetwork.com ) , a group of thirteen of Boulder's most successful brokers, is an important part of this. Not only do we participate in their advertising program, but Jane attends monthly luncheons during which the current market conditions and new listings are discussed.
In addition, each time your property is shown, we contact the showing broker to discuss his/her opinion of the property and get feedback from the client. This is an opportunity for us to find out what the responses are to your property. This important feedback is provided to you on a weekly basis so you, too, know how the market is responding to your property.
How do you negotiate?
Negotiation is a learned art. After twenty-five years in real estate, Jane is an expert at striking a balance that is likely to see a sale succeed. She is adept at finding solutions that will work for all parties.
Sales contracts have many potential obstacles to overcome - including the property inspection, ability of the buyer to obtain a loan, and title issues. Our responsibility to you is to be a part of all these negotiations, to suggest when you need to get legal advice, and to be available to help solve/resolve any thorny issues that might arise.