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25 Frequently Asked Questions

Here are some of the most frequently asked questions (and some questions you should ask) that we receive followed by their answers.  If you have other questions that we have not addressed please [contact Rocky, Jason or Jeremy and we'll be happy to help you.  Real estate is our only business - it is our passion!  

  1. What is my house worth? - A home's value is a function of location and condition as it compares to other properties competing for active buyers in the market place.  Its value is not a function of what you need, what you want or what your neighbor and Realtor think.  A home's actual value is established when it is sold and then that value is only good for that day.  Value is a continually moving target with lots of mitigating factors.
  2. How do price, condition, location, medium values and absorption rates interrelate with each other? - Location is the principle factor in determining value.  Condition and the home's attributes move the value plus/minus within that location.  Pricing is the factor that equalizes the saleability of any given home, in any condition and in any given neighborhood.  The market controls value and the seller controls saleability.
  3. Can we enhance its value and its saleability? - Absolutely! Properly prepare it for sale; stage it beautifully; have the correct marketing, promotion and pricing strategies; make it easily accessible and have a full-time Realtor with market savvy and presence.
  4. What gives us the biggest bang for the buck? - Low-cost items like paint, removing clutter and old dated wallpaper, watering, fertilizing and edging the lawn, trimming back overgrown shrubs, shoveling the snow, getting rid of smells - the list goes on.  Contact Jason, Jeremy or Rocky for a pre-sale planning session  - it is really easy and pays big time.
  5. Does our new kitchen/bath/deck/garage add value? - Of course it adds value but typically not commensurate with the cost of the improvement.
  6. Why doesn't my $30,000 kitchen add $30,000 of value? - Because the medium of a neighborhood tends to pull good homes down and push bad ones up.  Let's look at the extreme: A home is in an area where property sells from $250,000 to $300,000.  One owner of a $275,000 home improved their home by putting in over $100,000 in improvements.  Will the home now sell for $375,000?  Probably not!  Reason:  If a buyer wants to spend $375,000 they will shop in a $375,000 neighborhood. Follow-up Given the above - should we have done our kitchen? - Of course, if you love your home it doesn't matter - it is only money.  Remember, it is cheaper to improve your home than it is to employ Realtors, lenders and movers - they're all expensive.  Now, if you don't love your home then move.  Contact Rocky, Jason or Jeremy - we sell homes for a livingThere are exceptions to this - look at Washington Park as a good example.
  7. Do you have various listing options? - We offer three listing options which are: Normal Listing, Normal listing with guaranteed sale and a cash buyout.  We also offer pro bono services when the situation dictates.
  8. How long is your listing period? - Our listings run for 4 months but have a 30-day escape clause.  So all of our listings are in effect 30-day listings.  In the last 10 years only one person decided to take advantage of the easy exit option - we're proud of that.
  9. How long will it take to sell it?  It depends on the relationship of your price to the property's condition and location.  You control how long it will take to sell it - unfortunately the market will control its value.  So painful but so true.
  10. How would you manage my timeline?  Every seller has different needs.  We recomend that we should take full advantage of the time we have and market the property accordingly.  Too difficult to answer this question without a specific situation.
  11. Will our property be lost in cyberspace? - No.  Every detail in the MLS data input sheet will be accurately completed to ensure that "searches" will pick up our listings and we will not be lost in cyberspace.  Being lost in cyberspace is really a big problem and could be a reason for no showings. Very important stuff.
  12. Do you have a list of vendors that we can use? - Yes! Check out our Best Recommendations list.
  13. How do you manage risk? - We are huge into risk management - it's serious business.  We recommend not getting involved in contingency contracts and only deal with pre-qualified buyers. Of the 80-90 transactions we do a year only one or two fall apart.  We are protective and error on the conservative side of risk.  Risk is real bad!
  14. Can I sell my home in this market? - Sure you can - homes sell in all markets.  You need good marketing and pricing strategies and a good Realtor to help you navigate in the marketplace.
  15. How will you promote my home? - Besides all the normal stuff (MLS, signs, internet and flyers) we do special features sheets to all Realtors in our marketing area; new listing brochures mailed to every homeowner in the immediate area and to Realtors in the marketing area; a 16-page real estate newspaper (Homes on the Hill) which is mailed to over 11,000 homes in the area.  Homes on the Hill is also mailed to 1600 Realtors, 100 relocation company offices, 100 businesses in zip codes 80228, 80401, 80215, 80226, 80403 and 80227 and to Rocky and Jason and Jeremy's personal mailing list of over 1500 past clients.
  16. When is the best time of year to sell? - Our answer is always the same to this - when it is best for you to do it.  The best seasons are spring, fall, summer and winter in that order.  But, supply and demand numbers tend to balance out seasonally.  In other words there may be fewer buyers in winter but there are also fewer sellers.  So time of year will not have any measurable affect on value.
  17. What is your commission policy? - We have a sliding scale commission policy.  The rates listed below are effective January 1, 2014.

      Less than 200,000 - 5.8%
    $200,000 - 225,000 - 5.7%
    $225,000 - 250,000 - 5.6%
    $250,000 - 300,000 - 5.5%
    $300,000 - 325,000 - 5.4%
    $325,000 - 350,000 - 5.3%
    $350,000 - 400,000 - 5.2%
    $400,000 - 500,000 - 5.1%
    $500,000 - 600,000 - 5.0%
    $600,000 - 700,000 - 4.9%
    $700,000 - 800,000 - 4.8%
    $800,000 - 900,000 - 4.7%
    $900,000 - 1,000,000 - 4.6%
    Over 1,000,000 - 4.5%

  18. Is your commission negotiable? - No.  However, we do offer replacement home discounts along with a nice referral program so everyone can get the lowest commission possible.  We offer our best fee from the get go.
  19. Do I pay capital gains tax when I sell my home? - No.  If the real estate was your principle residence and you've lived in it for over two years it is not taxed.  Nor do you have to reinvest your proceeds - that is old tax law.
  20. Will my home sell for less if it is vacant? Depends.  Some homes show better when vacant than when occupied.  But, on balance, a well-staged home will always show better than a vacant home.
  21. Do you do open houses? - No we typically don't do open houses.  Open houses are for the benefit of the Realtor either to pick up buyers or sellers or to promote themselves in a given neighborhood.  And, open houses are a big security risk.
  22. Do you do internet advertising? - Yes!  Every home listed in the MLS is posted on dozens of search engines.
  23. Does the Realtor you choose make a difference? - You bet it does - big time!
  24. Do the three of you operate as a Team? - In some aspects we do.  We all market our homes together but we each manage and work with our own clients and transactions.  We are a support system for each other but when you list a property or engage one of us to work with, you work with that person from start to finish.  We do no engage assistants to do our work.
  25. What is the best thing I can do to get my home sold for top dollar? - Recognize that your home becomes a product to sell and it needs to compete in a very vibrant and competitive marketplace.  So, to have a very good understanding of how that marketplace works, prepare your home for sale and be sure to stage it beautifully.  Here is a checklist.
    • Properly prepare the home for sale
    • Understand how price, condition and location factors interrelate.
    • Know the current absorption rate.
    • Stage your home.
    • Understand how to "listen to the market."
    • Develop a maketing plan that moves toward a sold sign.
    • Pick a Realtor with market savy, experience and presence.
    • Deal with the market you're in.

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Real Estate is Our Passion - Call for a Consultation

Metro Brokers - Reynebeau & Company 215 Union Blvd. #125 Lakewood, CO 80228
Jreynebeau@aol.com  -  Jkendallmb@aol.com  -  303.989.5462

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