Seller’s Series: Even in this Hot Denver Market, 5 Things Your Realtor Should be Doing to Sell Your Home

Sometimes, I’m a little embarrassed of my comrades in real estate. Okay, I’d go so far as to say that a handful of times, I’m completely astounded (note, negative connotation) by how realtors poorly prepare and market properties and even more so how sellers don’t demand better. Perhaps it could be that sellers just don’t know what expectations to hold for their realtor. Let’s just put it out there—a realtor listing a property typically does so for around a 3.2% professional fee (commission). On a $500K listing, that’s $16,000—that’s a lot of money! If you ask me, the listing agent should earn it, every time, regardless of the home price, and doing so, they might earn you a bit more money on your sale as well!

So, what should your realtor be doing to phenomenally serve you, the client, so that you feel comfortable that the 3.2% commission is warranted? Even in this market, which favors the seller in many cases, there is still tremendous value in your realtor doing these 5 things when listing a home.

1. Offer 2.8% to the buyer’s agent for a successful closing of your home. Sometimes, the listing agent and sellers decide to list their property for a commission lower than 2.8% to the buy side or they even decide on a low flat rate. Though the industry norm is to offer 2.8%, commissions are not set in stone. However, to ensure equal exposure to properties listed on the open market and thus create more interest in your listing, you may not want to cut corners with the buyer agent’s commission.
2. Take care, time, and stage beautifully. Unbeknownst to most, there are a lot of “to do’s” that go into listing a home. Depending upon the condition of the home, the listing preparation could take weeks to months. There is no sense in rushing, then receiving unfavorable feedback, sitting on the market, and dropping the price. Do it right the first time! And here’s when you can really leverage your realtor’s expertise—they see hundreds of homes in the flesh and by flipping through MLS pictures. They have an experienced eye with which to compare the look and feel of homes, particularly competitive ones buyers are looking at as well. For more specific tips on staging, visit my blog http://lindseyfriedmanhomes.com/2016/05/23/staging-tips-for-selling-or-sprucing/
3. Enter information into the MLS completely and accurately. This includes room measurements, HOA fees, taxes, etc. When realtors create contracts on behalf of their buyers to put in an offer they link to the information provided by the listing realtor in the MLS. If HOA fees are wrong, you have a problem after the contract is executed. Also, room dimensions provide the buyer with a good idea of space layout, which may save a wasted showing for both sides of the deal.
4. Invest in professional photos after prepping the property. I wrote a tiny bit about this in my staging blog but it is unbelievable what some agents put in the MLS for pictures. They’re upside down, cropped narrowly, dirty dishes on the counter. And these aren’t inexpensive listings, either. Hire a professional (which may take some time to book out) and create an impressive photo gallery of your home. When 5 new listings come up in Congress Park over the weekend that meet my buyer’s criteria, if one of them has terrible photos that show no pride in the listing, then that one will likely be left off of the showing tour.
5. Market with brochures and other collateral using the beautiful pictures that were just taken. Order professionally designed brochures for outside and inside the home as well as E Flyers which other brokers receive via email. People always want something to hold as they tour the property as a reference. Create the brochure content together, as a seller and listing agent team, highlighting the notable features, history, etc. of the home. Create a story and project a lifestyle! After all, you’re not just selling a home, you’re selling a future in which people can picture themselves.