THE LISTING PROCESS
Once you've decided to sell your property, it's important to understand how the selling process works. Here's a quick snapshot of each step to selling your home.
1. SET GOALS - Once you have determined that you are ready to sell, think about your ideal sales price and timeline.
2. SELECT A REALTOR - If you don’t already have a relationship with a realtor, do some research, ask a friend or neighbor for a referral or schedule some listing interviews. Some things to consider when choosing an agent include: the agent’s knowledge of the market, marketing strategies, communication skills, ethical standards, reputation and experience. At Eco Luxe Real Estate, we pride ourselves on all of the above, in addition to offering our clients the advantage of a sales team able to offer clients a full range of marketing coverage and accessibility. Learn more about us here.
3. PRICING - A seller must be realistic when setting a price. If the price is too high, buyers will be turned off. Too low, and you risk missing out on money. Regardless of what you originally paid for your home and the cost of improvements you have made, the only price that matters is what the market will bear at the time you decide to sell. This is where your agent comes into play. Your agent should conduct a comparative market analysis to determine how your home compares to other recent sales in your area. You will then be provided with a recommended pricing range from which your agent will help you determine a final list price based on your individual goals.
4. LISTING AGREEMENT AND DISCLOSURES - Upon choosing your designated real estate agency, you will receive a Listing Agreement outlining the terms of the sale as well as a disclosure describing the types of relationships an agent can have with a seller and/or buyer. These two forms are regarding the relationship between you and the agency. Additional disclosures are required to provide to the buyer and will include a Sellers Property Disclosure (disclosing any known defects, repairs or issues with the home) and a Square Footage Disclosure (disclosing the home’s square footage and source of measurement used).
5. PREPARE YOUR HOME TO SHOW - Make a great first impression by following our Property Listing Checklist.
6. PROFESSIONAL PHOTOS - More often than not, buyers first see your home through online listing services, whether through an MLS listing from their agent or through public platforms like Zillow and Realtor.com. That's why it's imperative that we take every measure to ensure the photos present as professional and in high resolution. Your agent will hire a professional real estate photographer to capture the most important and captivating features of your home.
7. MARKETING - Your agent will customize and implement our proven, research based marketing campaign that showcases all of the best qualities of your home, while also highlighting the features and amenities that are in-demand among buyers in your area. This includes, but is not limited to, customized digital artwork for social media campaigns, personalized website solely for your specific property, your property featured in BOTH the Grand County and Denver MLS's (this is key!), direct email to our extensive client and lead database, an eye catching yard sign with sign rider and more! Our marketing strategies focus not just on direct to buyer tactics but also direct to other agents to expand our reach and awareness of your listing. Ask your agent for more details.
8. SHOWINGS - We will work with you to determine your availability for showings and preferred form of communication for appointment requests/notices/feedback. Once showings begin, be sure to keep your home in top-selling shape! We ask that you not be present for showings as it can create an uncomfortable setting for potential buyers.
9. OFFERS AND NEGOTIATIONS - When an offer is received, your agent will present it to you via email for review immediately and call you to discuss, advise and determine one of three options for a next step: accept, reject or counter. Most offers require some level of negotiation. We will work together to determine your parameters and we will negotiate with the buyer through the buyer's agent on your behalf.
10. UNDER CONTRACT - Once you and a buyer agree on terms and sign the contract, you are officially "under contract." Your agent will closely monitor the contractual deadlines and ensure those are met or address them accordingly. If the buyer will be getting a loan, your agent may monitor the loan process, which typically lasts 4-6 weeks.
11. INSPECTIONS - In many cases, the buyer will require an appraisal and/or inspection. An inspector is trained to look for items and defects that are not obvious to you and your agent. No matter how new or well-maintained a home is, inspectors almost always find some items in need of repair. If the buyer requires that certain repairs be made, we will continue to negotiate on your behalf and recommend service providers, if needed, so we move successfully from contract to closing.
12. APPRAISALS - If the buyer is purchasing the property with a loan, the lender will require that an appraisal be performed by a licensed appraiser. This is where using a local lender or a lender familiar with our market is highly beneficial. Local lenders use local appraisers who are fully aware of the current market, real estate trends in resort communities and have access to our local MLS. This is highly important for properly appraising property in our unique real estate market. This helps ensure that the property will appraise and not be cause for delay or rejection of the loan.
13. CLOSING DAY - A few days before closing, we will ensure that the title company and buyers have received all the necessary forms and that all documents have been prepared accordingly. At the closing meeting, which typically lasts less than an hour, ownership of your property is legally transferred to the buyer and any existing mortgages and/or liens you have on the property are paid off. In most cases, your agent will be present with you at closing along with the title company's closing agent. The new owners will gain possession of the property upon closing and the title company receiving their funds. Your proceeds from the sale will either be presented to you by check or wire transfer, per your request.