Tuesday, September 11, 2018

How Long can Boulder Home Prices Keep Rising . . . ?


By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617

Many recent news articles suggest trouble is brewing for U.S. housing markets. One way or another, they suggest the rate at which home prices are rising may soon slow, or turn negative.

CBS MoneyWatch argues that three factors may restrain rising home prices.  MoneyWatch is concerned that: (1) Affordability has dropped to a ten-year low. (2) There's been a nationwide decrease in home sales.  (3) Young adults are buying fewer than previous generations similar ages.


Another commentary about a slump in homebuilder stock prices suggests Wall Street lacks confidence in the new home market.

And a Bloomberg article says high-end rental markets are experiencing a supply-side squeeze after the recent construction boom, resulting in lower rent prices. If individuals and families find renting cheaper than buying,  many will put off ownership, reducing home purchases and, therefore, prices.

And this idea from Fortune:  the U.S. economy in for a rough time because unemployment numbers are so good. I can't say I'm on board with the logic. But this is one of many commentaries arguing a recession is near.

Movements in home prices generally follow wider economic trends, making the possibility of a recession yet another factor for homeowners to fret about.

Pessimism about economic factors is rampant. The four contributions above simply scratch the surface.

So, either housing (perhaps the whole U.S. economy?) is in for a rough ride; or maybe we're just "climbing a wall of worry," as stock traders call a disconnect between negative sentiment and a more optimistic reality.

Who knows which is right?

Yet it is hard to ignore this anxious background when discussing trends in home prices.

Boulder is no exception. Like elsewhere, average median home prices continue rising in Boulder, according to numbers from the IRES multiple listing service.

In Boulder, average house prices have jumped from $1,089,741 during all of last year to $1,260,832 the first half of this year. The 2017 median house price was $910,000, compared with $1,072,000 for the first six months of this year. (For the first six months of last year, the average was $1,064,508. The median was $867,000.)

The average price of an attached dwelling in Boulder rose from $467,541 during all of 2017 to $521,144 during the first half of this year. The median in 2017 was $405,000, compared to $450,000. for the first six months of 2018. (For the first six months of last year, the average was $459,732. The median was 444,000.)

Recently released S&P CoreLogic Case-Shiller data confirms continued upward price trends in larger U.S. home markets.

Despite all the commentary about rising housing costs and the wider economy, these recent increases in Boulder should come as no shock. They are a continuation of an ongoing trend.

Yet there do seem to be fundamental factors that might stem the economic recovery and home pricing trends nationally and locally.

It has been a long time since the last recession. Recessions do occur with a degree of regularity.

And current federal economic policy seems a tad unmoored.  

As noted in the CBS MoneyWatch piece cited above, affordability has become a major concern. This is as true in Boulder as elsewhere.

Many would-be buyers simply cannot buy at today's prices. Rising mortgage interest rates increase the numbers in this category.  Other potential buyers have decided now is a bad time to buy because prices seem too high. Waiting for better prices might be a good strategy.

Meanwhile, some potential sellers have decided not to sell, dreading the prospect of becoming buyers in this tight market. This means supply is dropping along with demand.

There are contradictory factors to consider, making near-term economic predictability very difficult.

But, pundits and news outlets want to predict the next economic turn, if just for bragging rights.

Sooner or later they will be right. The question is  ¯\_(ツ)_/¯  when?

The bottom line: don't believe everything you read about housing or the economy until the picture comes more into focus.

––––––––––––––––––––––––––
Ron Rovtar is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your real estate questions at 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.
#Homeprices
#Boulder
#RealEstate
#Housing






Thursday, August 9, 2018

Hiring a New REALTOR® can be a Good Decision . . . .


By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617

If you soon will hire a real estate agent to help you buy or sell a home, there is a  very good chance the agent will possess less than two years experience.

It's simple math.  According to the National Association of Realtors, almost 30 percent of the association's membership is comprised of new or newer agents.

Don't panic.

Hiring a new or newer agent might be a very good thing for you.  New and newer agents may bring greater energy. They can be more eager to please. And they often can be much more attentive to your specific needs.

We all try harder when we are learning a new skill set.

A new agent who has taken full advantage of required real estate training, and who is comfortable solving complex people problems, may be exactly right for you.

However, when considering a new agent, you should ask questions you would not ask a more experienced professional. (See below.) Then, as in most cases, you should use your best judgment, intuition and a little common sense when deciding if the agent is right for you.

The National Association of REALTORS® 2018 Member Profile reports that 29 percent of the association's 2017 membership had less than two years experience.

The profile did not offer a percentage for 2018 but noted the organization's membership rose to 1.30 million by April of this year. Membership in March of 2017 was 1.22 million.  A high proportion of new members probably are new agents.

So, what's the difference between newer agents and those practicing longer?

Understanding there can be a range of abilities, motivations, and engagement at all experience levels, seasoned real estate agents do tend to be better negotiators and problem-solvers.

Communication skills, proficiency in contract-preparation and knowledge about local real estate also improve with experience.

Yet, as one's business grows, there is sometimes a temptation to take on too many clients, become too confident, or simply relax too much. Experienced agents are human. So it is unsurprising a percentage provide clients less than the full measure.

New and newer agents can also have a strong case, including intensive professional education

In many states, would-be agents must complete mandatory real estate training. Colorado, for example, requires 168 hours of education, the content of which is mostly mandated by the Division of Real Estate.

Colorado graduates take two timed exams, one specific to Colorado rules, regulations and practices. The second tests knowledge of national property issues. Scores of 75 percent or greater must be achieved on each exam.

Upon passing both exams, new agents typically associate with a brokerage.  The real estate companies often offer additional instruction.

Importantly, agencies always assign mentors for inexperienced new agents. These seasoned agents receive a portion of the new agent's commissions. Mentors advise and guide new agents through several transactions.

Among other tasks, mentors should read and provide advice about all transaction documents, especially purchase agreements, disclosures, and addenda. They should regularly meet with new agents to discuss the progress of transactions and offer guidance.

New agents who join a local REALTORS® association also must pass the national association's ethics course, covering the organization's Code of Ethics.

Additionally, new agents often bring a wealth of previous work and life experience.  They may have learned much from working in other fields, taking advantage of educational opportunities, and obtaining important volunteer experience.

Though new and newer real estate agents lack some seasoning, they are usually prepared to do a good job with your transaction.

But you will want to know a more about them.

Here are questions you should ask when interviewing a new or newer agent:

1) Have you completed any real estate deals? If "yes," how many? What have you learned from them?

2) How did you score on the real estate license exam or exams?

3) Have you completed the National Association of REALTORS® ethics training?

4) Do you have an assigned mentor? Can I call this person if I have questions about how you hand my transaction? What is this person's contact information? (Some newer agents will have graduated from the mentoring program. You can ask the same questions about the agent's employing broker.)

5) Why did you become a real estate agent?  What work did you do before? What is your highest level of education? How did previous experience prepare you for your new profession?

You can have a good, mediocre or poor experience with an agent of any experience level.

As a group, real estate agents are like professionals in every arena. Some will have exactly the skills you need. Some have skills more appropriate for other problems.  Some work hard: others, not so much.

I always suggest home buyers and sellers interview several prospects before hiring a real estate agent.

But don't wear yourself out. Contact several agents by phone. Make it clear you will choose the person who earns your confidence. Then meet two or three best prospects in person.

By the time you close, you will be glad you spent extra time finding the right agent.

And while knowledge and experience matter, so does enthusiasm and attentiveness.

So don't rule out the "newbies."

––––––––––––––––––––––––––
Ron Rovtar, is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your real estate questions at 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.
#Hiring
#RealEstate
#Agent

Friday, June 1, 2018

Find a Rental in Boulder & Broomfield Counties . . . .


By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617


Searching for  rental housing can be tedious, to say the least.

So  let's try to make your search easier.

To do this, I've brought together many links that should start your search on the right foot.

The first section includes direct links to apartment complexes in Boulder and Broomfield Counties.  The second section offers a collection of national rental search engines that have listings for our target area.  The search websites will help you extend your search into houses and individual condos.

Additional information in the third section will help pet owners and University of Colorado students.  This section also includes other links potentially useful for renters.

Please let me know if there are other links that might be included here.


Section 1: Apartment Complexes:


Boulder, including Gunbarrel

The Peloton
Boulder View Apartments
Uptown Broadway Apartments
Tantra Lake Apartments
Violet on Broadway
Apex
GlenLake Apartments 
Glen Lake Apartments
Griffs 3100 Pearl
Boulder Creek Apartments
The Hive
Blue Sky Lofts 
The Lodge
Two Nine North Apartments
The Boulders Apartments
Bridgewalk 
Verdant
The Hub Apartments
Gunbarrel Center

Louisville

Centre Court
North Main and Steele Ranch
Delo

Superior

Bell Flatirons
Stonegate Apartments

Lafayette

Prana Apartments
Luna Bella Apartments
Affinity at Lafayette Apartments (55 and older)

Longmont

Victoria Inn Apartments
Shores at McIntosh Lake
Fox Ridge Apartments
Ironhorse Apartments
Ute Creek Apartments

Broomfield:

Terracina
AMLI at Interlocken
Catania Apartments 


Section 2: Rental Search Engines:

The rental search engines below may turn up additional apartment complexes. They also will help you find houses, condos and, in some cases, additional units in owner-occupied properties.

However, even though the national sites are considered reputable, it is hard for for their staffs to police rental listings. Be careful! There are many rental scams.  As a general rule, be very wary of listings that sound too good to be true. Send no money through the mail until you are confident you are dealing with the owner or the an owner's legitimate representative.  Be extremely careful about sending money through services such as MoneyGram or PayPal.  When you preview a rental, please don't go alone and be prepared to leave quickly if anything seems off.

Some of the links below are for Boulder searches, but can easily be expanded to Broomfield and other nearby areas. Here are the national sites:

Realtor.com

Rent.com

Apartments.com

Hotpads

Padmapper.com

Craigslist

Trulia


Section 3: Additional Information:

University of Colorado Students should check out Ralphie's List for student rentals around campus.

Are you interested in co-op housing in Boulder? The Boulder Housing Coalition is a good place to start.

Boulder Creative Housing is a great facebook group where you might get some good tips about available housing, both conventional and unconventional.

You can also check with Fox Property Management, or Fourstar Realty for properties currently available or soon to be available.

Boulder city has uploaded this map showing licensed rentals (including short-term rentals) in the city.

Boulder also has this Landlord-Tenant Handbook online. Here is a similar publication from the State of Colorado.

If you have pets, you may want to check this list of pet-friendly housing in and around Boulder. It is compiled by the Humane Society of Boulder Valley.

Good luck with your rental search!

––––––––––––––––––––––––––
Ron Rovtar, is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your real estate questions at 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.
#rent
#apartment
#findrental
#Boulder
#apartments

Monday, May 14, 2018

How to Compose the Best MLS "Listing Comments" (and Why it Matters) . . . .


By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617

I messed up!

I took one of those sales presentation shortcuts that sometimes lead to bad results.

I was explaining the advantages of my communications background and how this would result in better marketing, and, by extension, a higher sales price for a  home.

I offered my years in journalism as a qualification for creating effective marketing copy.


Great listing remarks can separate your listing from
the competition.
Problem was, factual writing has little to do with persuasive writing. And, while I knew this, I took the easy way out.
My prospect pounced.

I don’t remember exact words, but he cited his own college degree in journalism

And, though he reported no experience as a professional journalist, he believed he could write marketing copy equally well. So why would he need a full-service agent?

The answer is simple: factual writing and persuasive writing live in different verbal universes.  But my point was lost and could not be extricated. Neither could my presentation.

Here's the truth every real estate agent should know:

Residential real estate marketing copy should at minimum persuade qualified home buyers they really want to see this home in person.

Beyond this, marketing copy and photos should work together to convince buyers this property will be a very strong contender, even before buyers actually see the home.

"Persuade" and "convince" are operative words here.

Yet the best marketing copy accomplishes even more heavy lifting.

The best copy also instructs. It teaches potential buyers how to see the product, in this case a home.

"Notice the hand-crafted front door." "The first thing you see upon entering this updated kitchen is . . . ." "This home's stingy carbon footprint will save you up to $XXX per year."

In real estate,  the "Listing Comments" are crucial! In my experience, buyers quote these space-limited multiple listing service remarks all the time.

As short as they tend to be, listing comments are among the first items home buyers peruse when skimming a multiple listing service fact sheet. Listing comments also are picked up by consumer real estate websites, which feature them prominently.

Poorly composed listing copy attracts fewer showings. Purchase offers are lost. Properties can fetch lower offers.

Let's be clear. To my knowledge, no one has ever specifically tested results of  "good" vs. "poor" real estate copy. I'm not sure how one would conduct such a test with a unique product like a specific home.

However, advertisers and marketers have for many decades parsed all kinds of persuasive messages for all kinds of products and services. The results are consistent, and convincing.

So, if you are a real estate agent, you will do your clients an enormous service by following some basic rules, making these comments as enticing as possible.

If you are a homeowner listing your home, you should read your agent's comments with a critical eye. You know better than anyone why your home is lovable, convenient, energy efficient, well designed. You know why you bought the home. You know why you will miss it. You are an expert about the neighborhood.

With few exceptions, what you, the current owner, cherish also will impress many possible buyers. Have a conversation with your agent if you think the agent missed an important observation.

Here are important tips to shine up listing comments:

1) Don't tell buyers what they already know. Buyers usually limit their internet home searches by price, size, number of bedrooms, and number of baths.  If they missed one of these parameters, they know where to find it. Other easily found facts include city, school district, street name, and exterior colors. Don't be redundant. Explain benefits. Tell buyers what important features could mean to them. "New, energy efficient windows keep extreme temperatures outside." Tap into emotions. "Imagine how you will feel sipping your morning coffee in this property's beautiful solarium."

2) Do tell the world what makes this home special. Does it back to open space? Does it have mountain or lake views?  Was it recently remodeled? Does it have historic significance? Is the kitchen to die for? Is there room for office, workshop, artists studio or extra storage? Often it is surroundings that sell a home. Recreational opportunities, nearby businesses, access to highways, nearby bus lines and other area features often sway buyers.

3) Place buyers into the picture. "Enjoy nature's solitude walking nearby paths."  "Think of the meals you'll orchestrate in this gourmet kitchen." "Stroll to three of the city's finest casual restaurants."  In each of these statements you ask readers to picture themselves in this house or neighborhood. Is this persuasive? You bet! It's a lot better than placing them outside looking in, which is where strictly factual copy puts them.

4) Offer subjective benefits along with physical ones. Attributes such as comfort, safety, privacy, convenience are hard to quantify. Describe them with concrete examples. "No busy streets to cross on route to neighborhood elementary school." "Walk or bicycle to nearby shops and restaurants." "Highest water quality in the state." "Shaded private patio offers quiet refuge." "Fire station just three blocks away."

5) Be careful about the words you use.  Connotation can overpower denotation. A "community path" between the back yard and a neighbor's back yard speaks of strollers gazing at you as you barbecue.  Conversely, a "green belt" suggests greater separation between homes, and greater privacy.  "Natural surroundings" speaks of trees, bushes and wildflowers.  "Wildlife" can foster concerns of devoured tulips, overturned garbage containers and rodents in the garage. If wildlife is an important positive, be specific. Buyers of rural properties often like deer, birds and butterflies. Bears and raccoons? Much more iffy.

6) Remove superlatives, but use words that evoke emotion. For decades, superlatives (fantastic, great, awesome, etc.) have been vastly overused. Readers ignore them.  But the English language has hundreds of words and short phrases that reach deeper into people's minds and evoke positive emotions. Here are some that can work magic in real estate:  freedom, you deserve, vibrant, imagine, innovative, quality-of-life, equity, a new start, convenience, attention-to-detail, opportunity, guaranteed, no-nonsense, stretch your dollar, free, security, confidence, savvy, your choice, tranquility, sophisticated, dignity, luxury, luxurious, maximum, elegant, success, your success, prosperous, next generation, elegant, safety, liberty. If you pay attention to current advertising, you will come up with more highly effective marketing words. However, used carelessly, some words and phrases can appear to describe illegal discriminatory situations. Be careful about such word choices.

7) Don't try to accomplish too much with your comments. It may be a blessing that many multiple listing services limit the length of listing comments. In his book The Secrets of Word-of-Mouth Marketing, George Silverman makes an important point that all marketers should consider.  Silverman suggests the decision to buy is never made in isolation. Instead, it is the culmination of any number of lesser decisions.  Don't try to sell the home before anyone has seen it. You will do best if you concentrate on important early steps. For home buyers, the first big decisions is choosing which homes to visit. During this process they usually start ranking chosen homes into categories from. "This one really could be it," to, "Probably not right for us, but worth a look." So your goal for the comments should be to (1) get qualified buyers to schedule a showing, (2) get them excited about seeing the home, and (3) Suggest what they should especially notice when they arrive. Buyers who form positive opinions early will most likely forgive a few negatives.  But, don't oversell. Don't disappoint. Dashed expectations turn buyers disproportionately negative.

Here are some other considerations. Write simple grammatical sentences. Some fragments are okay, but not if they confuse readers or impeded flow. Trim unnecessary words.  Avoid abbreviations that interrupt the flow as readers figure out what you mean. "'SS?' Oh yeah! Stainless Steel! The fridge. Now where was I?" Don't list multiple features, except perhaps a few bellwether attributes at the end. When you do highlight a feature, describe it in detail. "Thirty feet of cream-colored granite counters with beveled edges." Don't shy from brand names when they speak of quality. Ask a question, but only if you know the answer!

To improve your writing even more, I suggest The Elements of Style by William Strunk Jr. and E. B. White. By publishing standards, it is an almost ancient volume. But it is inexpensive on Amazon.com. And spending an hour with Chapters Two and Five will improve your writing more quickly than studying some modern titles from cover to cover. 

No kidding!

––––––––––––––––––––––––––
Ron Rovtar, is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your questionsat 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  E-mail Ron.

#listings
#listing comments
#listing remarks

#brokers
#real estate
#writing
#copy
#selling
#marketing
#homes
#houses 

This article ©Ron Rovtar



Monday, February 12, 2018

Real Estate Bidding Wars may be Cooling in Boulder, Colorado . . . .


By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617


Sometimes a little quick and dirty statistical analysis turns up information worth thinking about.

Such was the case last week after I found myself wondering about recent bidding wars for existing homes in Boulder, Colorado.

It seemed to me there were fewer.

So I checked the IRES multiple listing service to see how many homes in Boulder city sold above the last asking price during the previous six months. 

The above-asking-price number is an imperfect indicator of bidding wars because there can be other reasons for such high offers. But one could expect a certain correlation, so it served my purpose.

It turned out that 58 of 330 houses closed above the final listing price during the half-year period. This amounted to 17.6 percent of sold Boulder houses. I did not include condos and other attached dwellings in my research.

I ran numbers for the previous two years, finding a steady reduction in  homes selling above asking prices.

I learned 67 of 273 homes sold above asking price during the same six months of 2016-2017. This was 24.5 percent. In the same 2015-2016 period, 96 of 311 home sales were above the ask. That's 30.9 percent.

Why the drop?

I'm guessing many buyers stopped looking because they wouldn't or couldn't pay the ever-increasing home prices in Boulder. Rising mortgage rates may also be driving buyers out. Higher rates mean higher monthly payments, of course.

Home prices in Boulder have risen considerably during the last three years because buyers have been willing to pay more and attractive inventory has been low. 

But, there are limits and Boulder may be closing on these limits, at least for the short term.

So upward pricing pressure in Boulder does seem a little cooler this year. 

This has implications for both sellers and buyers.

Sellers now must to be more careful about assuming ever-increasing prices. It likely will be harder this year to price homes a little above the recent neighborhood comparable home sales –– a standard practice in previous years.

And buyers should not automatically assume a competitive bidding situation when they make offers. However, buyers should remain aware of signals indicating bidding competition, such as sellers who seem reluctant to respond to good offers.

Based on the last six months, the Boulder housing market may be tipping a little more toward buyers. But the crystal ball is cloudy due to factors outside the housing market. 

I'm watching the stock market, which could become a less favorable place for money. This could signal a shift to other investments, including real estate. I'm watching bonds, where interest rates could rise due to increased borrowing by the Federal government. This would force home mortgage rates onto a parallel upward path. And, like everyone else, I'm watching unstable Washington DC politics, which could upset a lot of apple carts in very unpredictable ways.

––––––––––––––––––––––––––
Ron Rovtar, is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your questions. Call him at 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  

Real Estate, Boulder, Colorado, Selling, Buying, Homes, Houses

Wednesday, January 31, 2018

Don't Let Hidden Costs Trash Your Bottom Line when Selling . . . .


By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617

There's a difference between selling for the highest price and making the most money.

A great contractual price is very important, of course. But it is not everything. Not by a long shot.

If you are not careful, potentially large costs, will sneak into your real estate deal  and reduce your bottom line by a lot -- perhaps tens of thousands of dollars !




With planning, care and good advice from an experienced real estate agent, these costs can be kept under control or entirely eliminated.

Here are several common factors that really make a difference when selling you Boulder County home:

Spending too much money getting your home ready to sell. This is a frequent mistake. You absolutely want your home to look great and appear extremely well maintained. But, few larger projects pay for themselves when you sell. Work with what's there and make small, strategic improvements that will be noticed. An experienced agent can show you how to spruce up your home without spending tons of cash that won't come back at closing.

Agreeing to too many -- or too expensive -- home inspection requests. Repairs can be costly. Sometimes buyers use these issues to negotiate reduced selling prices. At least they try. Your home is not new and buyers should not expect perfection. There usually are ways to keep buyers on board without breaking your bank account or promising more work than you can handle during a short period. This is where an experienced negotiator will be incredibly valuable in keeping your costs under control.

Agreeing to unnecessary closing delays or not closing at all. Moving and storage expenses balloon when deals unexpectedly fall through, or closings are rescheduled. Even short delays can be very expensive because they expand the costs of owning your current home longer than expected (taxes, mortgage interest, insurance, maintenance utilities, etc.). Before you list, ask for help  strategizing a smooth exit plan.

Paying inadequate attention to potentially important details. There often are costly consequences associated with low appraisals, HOA transfer fees, local government requirements, insurance company stipulations, and mortgage underwriting demands. It takes an seasoned real estate agent to keep these under control.

Timing your listing to take advantage of the best market conditions. Your home can fetch considerably different offers depending on when you list. In any given area, housing supply and demand ratios often change dramatically from week to week or month to month. The supply/demand balance usually trends best for sellers during specific months of each year. When housing is scarce, buyers pay more. But every location is unique. And the best prices are not always achieved during the busiest real estate seasons. Understand the trends for your area so you can make the best decision about when to sell.

This is hardly an exhaustive list of factors that can whittle away a lot of the money you expected to earn with the sale of your Boulder County home. Selling is a process -- a long, convoluted, sometimes tedious, process.

So don't forget your real estate deal is just starting when the agreement is signed by all parties.

If you want the best financial outcome you must pay attention to each phase of the process, always keeping a close eye on your wallet.


––––––––––––––––––––––––––
Ron Rovtar, is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your questions. Call him at 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  

#RealEstate
#Boulder
#Selling
#Costs
#Homes
#Agents
#Realtors

Thursday, January 18, 2018

Three Important Questions to Ask Before You Hire a Real Estate Agent . . .

  
By Ron Rovtar
The K Company Realty
Boulder County CO
303.981.1617

Real estate agents are not all the same.

Agents  bring different attitudes, skills, personalities and ideas about customer service.

Some agents are better marketers. Others excel in negotiations. Some agents are magnificent problem solvers. Others are adept at managing all the people involved in a transaction –– mortgage brokers,  inspectors, appraisers, closing company personnel, etc.

So it is important to ask a lot of questions before hiring any agent to sell what is probably your biggest financial asset.

Here are three questions that will help a lot:

1) What makes your services worth the money you will charge me?  This question usually is on every home seller's mind. Yet it rarely is asked. Don't be afraid! It is a valid question. Unfortunately, it often is answered the wrong way, or at best, in an incomplete way. Agents usually talk about financial risks they take with every listing. They talk about their expenses, experience, and education. These factors do play into their commission expectations.  But such answers do not tell you why you should pay what they ask. So you may need a follow-up question like: "How will you bring this much value to my real estate transaction?" "Value" is the operative word here.

2) How will you negotiate the best selling price and conditions?  Notice that this and the other questions here are all "open-ended," meaning they cannot be fully answered by a word, a simple phrase or a number. So don't accept simple answers like, "I'm a tough bargainer," or, "I'm a win-win person." Ask for  details and be suspicious if the agent cannot tell you exactly what "tough bargaining" or "win-win." means to him or her.  Ask for real life examples.

3) How will we communicate?  This may be the most important question of all! In today's technology-saturated world, it is entirely possible you will never physically see your agent between the day you sign a listing agreement and the closing table. E-mails, e-signatures and phone conversations can help move things along, but hashing things out in person almost always improves results significantly.  So you want to know you will regularly see your agent in person during important phases of the process.

You will have other questions, of course. But these three will get you a very good idea about how an agent really works. They also will help you decide if the agent is a good match for you.

––––––––––––––––––––––––––
Ron Rovtar, is a broker associate at The K Company Realty in Boulder, CO. Please call Ron with all your questions. Call him at 303.981.1617.  To learn more about Ron, please visit his website. For more about life in Boulder County and nearby, check out our facebook page. Ron Rovtar does business as Front Range Real Estate, Ltd.  

#RealEstate
#Agents
#Realtors