Welcome Home Seller Resource Guide
A word from Todd Narlinger President, Broker Owner “Welcome to Madison & Company Properties. Over the last 10 years, our company has experienced an explosion of growth. In that time, we have added some incredible broker associates and new exciting locations. More importantly, we have continually added great people who help make our culture collaborative, professional, and fun to be associated with. In conjunction with our culture, we are striving to improve in our processes and overall brand awareness in the market. We are one of the fastest growing boutique real estate firms in Denver and we believe there is no limit to what we want to accomplish. At Madison & Company Properties, we are committed to providing our sellers with an outstanding experience. We hope you choose Madison to help sell your home. I know that our brokers will take care of you with the utmost care and responsibility.”
2 | Madison & Company Properties
Madison & Company Properties Ltd. is the finest boutique real estate firm in the Denver metropolitan and front range areas. Our company is comprised of a group of experienced and knowledgeable real estate brokers and staff who provide our clients with the highest level of personal service and expert advice. Whether you are buying, selling or investing, the Realtors® and staff at Madison & Company Properties are available to provide expertise in all your real estate property transactions. Madison prides itself on a culture that resonates with every buyer or seller to feel that their Realtor® is holding the utmost values and morals in getting your home sold. As your trusted advisor it is our responsibility to get the highest and best offer for your home. We understand that listing your home brings with it a multitude of emotions – whether positive or negative. This resource guide will be a great aid in learning the whole process from the listing consultation to the closing table in order to ensure that the process is as seamless as possible We pride ourselves on talented and experienced brokers who have a passion for real estate and will represent you with the highest quality and morals. Thank you for your trust in us and our brokers.
MADISON & COMPANY PROPERTIES Your boutique Real Estate Firm
Committed: At Madison & Company Properties, we are committed to providing our clients with an outstanding real estate experience. We pride ourselves on being experts in the Denver real estate market and we are dedicated to passing our knowledge along to you. Whether you are an experienced investor or a first time buyer, the brokers of Madison & Company Properties are here to provide you with the best service possible.
Trusted: Integrity is our core value at Madison & Company Properties. We know there are many real estate companies to choose from and we take your trust in us very seriously. Buying or selling a home is one of the most important decisions you can make in your life. Our experienced and trustworthy brokers at Madison & Company Properties are there to guide you through the process every step of the way.
Connected: Madison & Company Properties has seven strategically located offices for convenience and to better serve our clients and RealtorsÂŽ. BRIGHTON 117 N Main Street, Suite B Brighton, CO 80601
GREENWOOD VILLAGE (DTC) 5975 S Quebec Street, Suite 100 Greenwood Village, CO 80111
CHERRY CREEK NORTH 201 Milwaukee Street, Suite G Denver, CO 80206
WASHINGTON PARK 1221 S Clarkson Street, Suite 400 Denver, CO 80210
COMMERCIAL 501 S Cherry Street, Suite 350 Denver, CO 80246
RIVER NORTH DISTRICT (RINO) 2658 Walnut Street Denver, CO 80205
EVERGREEN 1193 Bergen Parkway, Suite O/P Evergreen, CO 80439
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MADISON & COMPANY PROPERTIES Our Commitment To You Every Madison broker is fully committed to providing you with the highest quality of service. As RealtorsÂŽ we have fiduciary duties which are as follows:
Obedience
Confidentiality
Loyalty
Accountability
Disclosures
Reasonable Care
1,780
Madison & Company Properties Annual Growth In Closed Units
1,691 1,372
1,093 2017
Number of transactions
870
660
2018
2016 2015
2014
294
70 28 2008
51 2009
2010
154
2013
2012
2011
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SELLING PROCESS Committed Trusted Connected
SELLING PROCESS Snapshot
Listing Live on MLS
Listing Consultation
8 | Madison & Company Properties
Offer Received
SELLING PROCESS Pre-Listing Preparation Inside Your Home ❏❏ Clean the house thoroughly. Keep it that way while selling. Shine the appliances, vacuum or shampoo the carpet, polish the floors. Get dust, flies, and moths out of light fixtures. Clean the windows outside and inside. ❏❏ Remove clutter from your home. Keep your kitchen spotless and remove unnecessary items from the countertops. ❏❏ Move clothes out of your closets so they do not appear full -- busting at the seams. Remove extra furniture and pictures from the room. ❏❏ Remove personal items that are conspicuous. You want to show off the house, not yourself. These tips will visually expand the rooms in your home. ❏❏ Get rid of offensive odors. Eliminate the smell of dogs, cats, kids, spicy food, etc. Odors are hard to explain away and are always noticed. ❏❏ Fix or repair items that are not in perfect working order. Sometimes a five-dollar repair job will leave questions in a buyer’s mind. Some quick fixes could include: - Tighten and repair loose knobs, sticky doors, and windows. - Repair light switches that do not work. - Repair caulking and grout in bathroom. Fix leaky faucets. - Replace burned-out light bulbs. ❏❏ Consider repainting - a fresh coat of neutral paint enhances the decorating detail to a home. Paint smells clean. Paint or touch up all interior trim. ❏❏ While your house is being shown, leave. Take a walk - leave the clients with the agent. Don’t interfere with the agent, this could possibly hurt the selling opportunity. ❏❏
If the house is somewhat vacant, staging appropriately can create a dramatic emotional statement. Your Madison broker can offer recommendations and arrange for professional staging companies to stage your home. National Association of Realtors® states that 32% of buyers agents believe staged homes increase the dollar value buyers are willing to offer by 1- 5% compared to similar homes that were not staged.
Outside Your Home ❏❏ First impressions are crucial, clean the front yard. Trim the shrubs, weed the flower beds, mow the lawn, rake the leaves, and sweep the walkways. ❏❏ Plant some flowers in flower beds or pots that are in season to liven up the appearance. ❏❏ Straighten gutters, planters, mailbox, or things that sag or tilt. ❏❏ Close the garage door. Hide the garbage cans. Remove extra cars. www.madisonprops.com | 9
SELLING PROCESS Why pricing is so important Setting the correct initial list price is one of the most important decisions that home sellers make in today’s market. The initial list price will impact both the amount of time a property takes to sell and the final sales price. Research shows that when a house is overpriced upon the first day of its listing, and subsequently requires price reductions, it will take up to three times longer to sell that house in the Denver market compared to a house that’s priced right from the start. Sellers will benefit from the professional advice of a REALTORS® when it comes to effectively pricing a property and understanding today’s market trends. A knowledgeable, skilled Realtor® will offer expertise and guide customers through today’s complicated process. At Madison & Company Properties we have developed specialized tools to help you properly price your property. We can give you up-to-the-minute information about the Denver Metro real estate market, including specifics about what is happening in your neighborhood.
The Comparative Market Analysis (CMA) How much is your home worth? Should you ask for more? How long will it take to sell? Your Madison Realtor® provides the answers to these and many other questions by completing a Comparative Market Analysis (CMA) which takes into account all the variables that may affect the value and marketability of your home.
Comparable Property Data Research of similar homes currently on the market, as well as recent sales and expired listings, help determine your home’s fair market value.
Market Conditions and Competition Economic outlook and seasonal trends, as well as the number of competitive homes on the market, can affect demand for your home.
Mortgage Conditions and Outlook Interest rates and anticipated movement up or down affect the size of your prospect pool.
Location Proximity to schools, parks, shopping, and transit can play a significant role in determining your listing price.
10 | Madison & Company Properties
SELLING PROCESS Market Conditions
Appreciating
Flat
Depreciating
Rising in Values Lack of Inventory
No Appreciation Stable Inventory
Falling Values Surplus of Inventory
Price it Right
Buyer Activity
It’s all about timing
Excited buyers, most showings
Peak activity and ultimately the best time to receive an offer
“Motivated” Seller; buyers looking to negotiate
Time on the Market Source: ListingsUp
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SELLING PROCESS Getting your home ready to hit the market
BROKER DUTIES PAPERWORK When listing your home there are a few documents that need to be executed before your home goes on the market. Some of these documents are between you and your Madison Realtor®, others are disclosures you will need to fill out in regards to the condition of your home. It is imperative to have a clear understanding of listing terms, price and condition of your home for potential buyers. A few of these documents are listed below: - Listing Agreement
- Closing Instructions
- Square Footage Disclosure
- Source of Water
- Seller’s Property Disclosure
- Definitions of Working Relationships
- Lead Based Paint (if applicable)
- Wire Fraud
- Colorado Mold Disclosure
1. Photos Professional photos will be scheduled prior to putting your home on the market. You are more than welcome to join in on the photoshoot!
2. Marketing We will usually receive the photos within 24 hours. From there we send it to our marketing team and they create professional brochures/flyers and postcards.
3. Sign Our Madison & Company Properties For Sale sign will be placed in the yard. Your Realtor’s® phone number and email is displayed on the sign, making it easy for potential buyers to contact us.
4. MLS/ RECOLORADO Last step is getting your home on the MLS where brokers and buyers are able to view your home and set up showings. Showings begin!
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SELLING PROCESS Helpful Documents
Once you go under contract on your home it is very important to have information regarding your home ready to go in case the buyer or lender requests it. This process moves very fast in some cases, so it is better to be prepared than scrambling at the end for warranties or receipts. We have included a list of items that buyers, lenders, and title companies might request during this phase of selling your home.
Seller Checklist ❏❏
Gather all manuals for appliances
❏❏
Receipts of work done to the home – including all major and minor renovations
❏❏
Start to locate all keys and garage door openers
❏❏
Floorplans or surveys done previously
❏❏
A list of utility providers and average costs per month for summer and winter months
❏❏
Alarm or smart technology instructions available
❏❏
HOA Communities:
❏❏ Check in with the HOA to see if there are any restrictions or policies when listing your condo/townhome ❏❏ If you have any known information regarding assessments, certification letters or HOA covenants, please have those available for the buyers
Make sure to take down or put away anything of importance or value as people will be waking through your home without you there.
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MARKETING Professional Detailed Effective
MARKETING Strategic Digital Marketing • Professional Website & Blog • In-House Videographer
• Matterport 3D - 360º Digital Floorplan
Social Media • Facebook Posts & Advertising
• Instagram Posts & Advertising
Full Service Property Marketing • Brochures • Flyers
• Just Listed/Sold Postcards
2640 MONROE STREET
DENVER, CO 80205 | SKYLAND NEIGHBORHOOD
OPen HOUSE 2640 MONROE STREET DENVER, COLORADO 80205 Skyland Neighborhood
FEATURES INCLUDE
This SATURDAY!
• •
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This beautiful brick ranch 1 block of City Park has it all! Four fully conforming bedrooms with egress windows in the basement is just the start. The front porch welcomes you into a wonderful family room with hardwood floors that run throughout the entire main floor. The kitchen is open with 42” cabinets, granite counters, and stainless appliances. Light floods in all the new doublepane windows. French doors lead out onto an expansive deck and large back yard with one car garage. Downstairs you will find a large rec room, laundry and two bedrooms with a jack-n-jill bathroom. With the new City Park golf course on its way, this home could not be in a better location with only a 10 min bike ride downtown. The home went through a fully-permitted complete remodel in 2012. The electrical, plumbing, and heater are all fully updated. The entire sewer line was replaced, and a brand new swamp cooler was installed in 2017.
• • • • • • • • • •
Amazing Location 4 Conforming Bedrooms 2 Bathrooms 2,096 Square Feet Hardwood Floors SS Appliances City Park Full Remodel New Interior Paint Granite Counters Large Back Deck Finished Basement
EXCLUSIVELY LISTED BY EUAN GRAHAM, REALTOR®
Global Reach
16 | Madison & Company Properties
Madison & Company Properties, LTD 303-619-4400 | Euan@GrahamGroupDenver.com GrahamGroupDenver.com
©2018 Madison and Company Properties, LTD. Madison and Company Properties is a registered trademark licensed to Madison and Company Properties, LTD. Locally owned and operated. An equal opportunity company. All information deemed reliable but not guaranteed. If you have a brokerage relationship with another agency, this is not intended as a solicitation. *Source: MLS.
MARKETING Print Property Marketing
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Marketing your home is the most important part of attracting the appropriate buyer. These are the steps that we take to ensure your home is tastefully marketed whether it is through print, digital, or any other media outlet.
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1
Photography
You only get one chance to make a first impression and this has never been truer than in real estate. Having your home professionally photographed is one of the most important steps in listing your home. With over 89% of buyers shopping for homes online, it is more important than ever to make your home stand out from other homes on the market. We enlist professional real estate photographers who will ensure your home looks its absolute best while staying true to its actual condition and features. Our photographers use state-of-the art technology such as HD video, virtual tours, and personal home websites.
Brochures
Those beautiful, professional photos of your home will be on display in a personal brochure that our marketing team will create for your home. It’s important to have a professional marketing brochure that you can display in your home for showings or that your broker can use to market the sale of your home.
Property Flyers/e-flyers
Flyers are a great tool to give the public a snapshot of your home’s specs and a few highlighting photos or to promote a open house. At Madison & Company Properties we are able to send flyers out as eflyers to the real estate community. We have a database of over 5,000 top producing brokers in the Denver Metro area which allow us to target market listings and open house at the request of your broker.
Just Listed/Just Sold Postcards
Once your home is officially on the market, it’s time to get the word out! We like to let your neighbors and community know that your home is for sale.
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MARKETING Multiple Listing Service
REcolorado.com
Consumer-Favorite Home Search Site REcolorado.com is the most visited, locally-run home search site in the state and your numberone advertising source. Your listings are available online with no added advertising fee. And, with REcolorado.com, if it’s your listing, it’s your lead! __ __ __
__ __ __
is theStatewide most visited,Listings locally-run home search Leads site in the state and number one advertising source. Thousands of leads generated Listings stretch across the state on Your personal webpage and
AgentREcolorado Profile
a valuable lead generator.
REcolorado.com—Colorado’s most popular, locally-run home search site.
every month.
Statewide Ad Campaign
Trusted
Helpful Resources
We have a statewide ad campaign in place to bring homebuyers to REcolorado.com to search for homes.
Home shoppers receive the most reliable and upto-date home information.
Professional information for agents, plus homebuyer and seller information for consumers.
#’s To Know
3000
Leads
from REcolorado.com, on average every month, sent directly to subscribers.
23
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annually to REcolorado.com.
34
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annually on REcolorado.com.
REcolorado Customer Care | Monday - Friday 7:30 a.m. to 6:30 p.m.; Saturday 8 a.m. to 5 p.m. | 303.850.9576, option 1 | support@REcolorado.com © REcolorado 2017
18 | Madison & Company Properties
MARKETING Syndication Where can buyers view my home? REColorado, Colorado’s MLS (multiple listing service) database is the most accurate and up-to-date platform for brokers and buyers to search for properties. By listing your home on the MLS your property will also be syndicated to third-party sites such as Realtor.com, Homes.com, Nexdoor and Denverpost.com. Beyond syndication, Madison & Company Properties has a full IDX feed to a multitude of website that display homes for sale, under contract and sold. This allows your home to get as much exposure as possible. Nextdoor • Nextdoor now syndicates
DPHOMES.TODAY • 25,000 listing views per month • 1.19 is the average time a consumer
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Realtor.com
Homes.com
• 864 MlS’s are syndicated through Realtor.com
• 14 million visit per month
• Updated every 15 minutes
• 62% of Homes.com viewers plan to move in the next 6 months • 90% of pageviews are people searching for their next home
FACEBOOK ADVERTISING: With over 1.86 BILLION users on facebook, our savvy Madison & Company Properties brokers are utilizing this social media avenue more than ever! That deserves a thumbs up!
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MADISON LUXURY PROPERTIES
MADISON & COMPANY PROPERTIES Madison Luxury Properties
Entrepreneurs in Luxury Real Estate - You Are What Matters
Madison’s Luxury Brand •
Custom property websites for your listing
•
Unique URL (example www.1234LoganSt.com)
•
Additional syndication to multiple websites
•
Lead capture – matching buyers to sellers
•
Custom home book with property and area information
•
Luxury postcard templates, yard signs, custom Eflyers
•
High quality property brochures
•
Illuminated property brochures in storefront windows
•
Individualized print marketing and press releases
•
Full-page ad in Luxury Home Magazine upon request
•
MadisonLuxuryProperties.com showcasing Madison’s high-end listings
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ON THE MARKET What Happens when you are active
Showings Once we list your home, brokers and their buyers gain access by calling into a showing service. At Madison & Company Properties we use Centralized Showing Service, better known as CSS. This full service showing database makes it the quickest and most efficient way to get buyers in your home. • Showings can be set 24 hours a day, 7 days a week • Showing requests can be sent to your smart phone; giving you the control to approve or decline showings
Showing Feedback Through CSS your Madison Realtor® sends out an email immediately after the showing to receive feedback from the buyer’s agent. The feedback is imperative especially if you are curious to why your home is not selling as quickly as you might have imagined.
Virtual tour Another way to get insights on your home is through the virtual tour that is created by the photographer that took pictures on your home. • How many people clicked on your listing • How long people stayed on your property website • Which photos are most popular
22 | Madison & Company Properties
UNDER CONTRACT Next steps when you are under contract
Offer Accepted Now that you have decided on an offer, it is time to start the under contract process. There are a few dates and deadlines to be aware of – title deadline, due diligence, inspection (including ILC’s and surveys), appraisal, and loan conditions. Remember where we asked you to gather documents on your pre-listing preparation, this is where those may come into handy and help move this process along a little more smoothly. The under contract process can take anywhere from 30, 45, to 60 days.
Inspection
One of the most crucial steps in buying a home is performing an inspection. The buyers elect to do this if they so choose. The buyer’s agent will set up a day and time that works for you to have the inspector perform a full inspection of your home. It is best to not be present during this time. It should take anywhere from 1-5 hours depending on the size of your home and how many inspections the buyer is requesting. After inspection, the buyers agent will send a inspection objection requesting specific repairs or replacements, if needed. At this time you can decide which items you agree to fix, repair or replace, if any, on the inspection resolution. Remember, inspection items should be left to things that affect health and safety.
Appraisal
An appraisal will be required by the lender if the buyer is obtaining a loan. The appraisal is to determine at which amount the bank will provide a loan. It is your agents responsibility to meet the appraiser at your home to show where they came up with the listing price. This can be explained by providing a list of comparable properties that sold of a similar amount, a list of showings and offers that were received, etc. The appraisal could come in low, high or at value. Your Madison agent will guide you through this process on the right moves to make if the appraisal comes in low. After the appraisal, we wait for loan conditions deadline and then you are that much closer to the closing table.
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PRE-CLOSING SELLERS ESTIMATED NET SHEET Now to the closing table!
As the seller, you may be responsible for the following estimated expenses associated with the sale of your home. These are estimates so please consult your Madison Realtor® for a more accurate breakdown of costs. Broker’s Commission Madison Client Transaction Fee
Title Insurance (approximate)
Percentage of sales price $295 per transaction Sliding Scale based on sales price $150,000 : $1,125 $500,000 : $1,775 $750,000 : $2,200 $1,000,000 : $2,650 Over $1 million, approximately $165 per $100,000
Improvement Location Certificate (ILC) (If requested per the contract)
$250 - $400
Water Escrow
$250 - $1,000 with balance refunded to seller
Prorated Real Estate Taxes Prorated Utilities & Assessment
Recording Fees Homeowners Association Fees
HOA document Retrieval Release Tracking Fee
Title Closing Fee
For current taxes not yet paid, pro-rated to sale date and any due paid in arrears For expenses incurred, but not paid, up to the date of closing $10 - $100 Per the contract and as assessed by the HOA $100 - $175 $25 per release $150 - $350
Disclaimer: This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal or accounting advice or other expert assistance is required, the services of a competent professional should be sought. © Copyright, 2013, by Land Title Guarantee Company
DAY OF CLOSING Don’t forget the wiring instructions for the bank that you wish your proceeds to be deposited in, all keys to the property, and garage doors openers. You will receive any proceeds earned from the sale once your mortgage balance and closing costs have been paid off.
CAUTION: We strongly recommend only relying on wiring instructions that come from a more secure source
such as in person communication, a phone call that you initiated, or through secure mail or package services. Your Madison & Company agent WILL NEVER PROVIDE YOU WIRING INSTRUCTIONS. If you receive an e-mail providing wiring instruction that purport to come from us, it is a fraudulent e-mail.
24 | Madison & Company Properties
THE TERMS Understanding Agency Terms
Listing Agent A seller’s agent (or listing agent) works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller. The seller’s agent must disclose to potential buyers all adverse material facts actually known by the seller’s agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller.
Buyer’s Agent A buyer’s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer. The buyer’s agent must disclose to potential sellers all adverse material facts actually known by the buyer’s agent including the buyer’s financial ability to perform the terms of the transaction and, if a residential property, whether the buyer intends to occupy the property. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer.
Transaction Broker A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property. No written agreement is required.
Customer A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party’s agent or as the party’s transaction-broker. Source: Colorado Real Estate Commission
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MADISON & COMPANY PROPERTIES An Exclusive Partnership
Leverage Global Partners is an international network of top producing independent firms. The member brokerage firms who have been chosen to join Leverage have been vetted and trusted with the exclusivity of being our one and only representative in their market. with this network can offer their clients an incredible advantage when buying or selling real estate - locally and globally.
5713 16 295 163 AGENTS
26 | Madison & Company Properties
COUNTRIES
OFFICES
MARKETS
MADISON & COMPANY PROPERTIES An Exclusive Partnership
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Madison & Company Properties | www. MadisonProps.com | 303.771.3850 Š2019 Madison & Company Properties, LTD. Madison & Company Properties is a registered trademark licensed to Madison & Company Properties, LTD. Locally owned and operated. An equal opportunity company. All information deemed reliable but not guaranteed. If you have a brokerage relationship with another agency, this is not intended as a solicitation.