Choosing a Realtor to sell your home

STEAMBOAT PILOT & TODAY

Selling a home is a long process that involves a lot more than setting a price for a home, putting a few ads in the paper and then giving potential buyers a tour of the property.

Skill and knowledge are required for the entire selling process. At each step along the way, there are potential pitfalls for people who try to sell on their own, said David Lacey, a broker associate with Century 21 Ski Town Associates who is also a member the Steamboat Springs Board of Realtors.

A Realtor can help with the process.

"Some people think that if somebody walks into their house and says 'I like it,' then the deal is over and the process is completed," Lacey said. "But really that is just the start of the process. There are a lot more things that have to happen."

Realtors have the knowledge and experience to get a home on the market and sell it quickly under good terms, Lacey said. People who sell their homes on their own may find that there are a lot of details they just don't know, such as the ins and outs of writing final contracts or how best to advertise their home.

Realtors will determine a fair price for the home, and can increase the likelihood that it will sell quickly. They will advise sellers on how best to present a home. They will advertise the home in publications, listings and Internet resources. And once they find an interested buyer, they will negotiate a contract that is fair and has appropriate time frames, closing dates, outs for the buyer and additional provisions, and not just the agreed price, Lacey said.

A Realtor also serves as an intermediary for the seller and buyer, who often find it hard to negotiate face to face.

"It's the Realtors' business to do all the contracts, and it's their business to follow up and keep people informed on what's going on," Lacey said.

Having someone who is knowledgeable about the process of selling a home usually results in a better and less stressful deal for the seller, said Randall Hannaway, the president of the Steamboat Springs Board of Realtors and a broker with Colorado Group Realty, Inc.

The main reason sellers don't hire a broker is to save money, Hannaway said, but according to a range of studies, not hiring a broker often means sellers lose out.

"In a typical real estate transaction today, having a broker involved will not only cost you money, it will make you money," Hannaway said. "You should obtain a higher price for your property in a shorter amount of time for better terms by using a broker than by going it alone."

A final benefit in using a Realtor is that the Realtor will list the house through the Multiple Listing Service, a comprehensive database of property for sale that can be accessed by other Realtors who are also helping buyers.

That's important in towns such as Steamboat Springs, where some out-of-town buyers are looking to find and buy a property within a matter of weeks, days or even hours. These buyers often don't have the time to search through the classifieds or drive around neighborhoods looking at for sale signs.

"It enables you to get your properties in the eyes of a lot more people," Hannaway said.

After deciding to use a Realtor, the next step is to find a good one. Sellers should talk with friends and other people in town to find out which Realtors have good reputations. They can also look online or talk with the local Board of Realtors to learn more about Realtors in the area.

Then, sellers should meet with several agents. Most Realtors offer a free appraisal of homes, as well as a presentation of how their properties are listed and advertised, and what other services they offer.

It's important not to pick the Realtor who says the house can sell for the highest price, Lacey said. If a house is priced too high, it won't sell quickly, and a seller can end up losing valuable time.

Most of all, sellers should remember to take their time in making their decisions, Lacey said.

"There's no doubt it's a big move for sellers," Lacey said. "They shouldn't feel pressured into picking somebody."

But once they find the right person, sellers often find that having a Realtor results in a smoother, more successful sale.