Questions asked by many sellers

Seller Frequently Asked Questions

How much do you charge to list a home?

We charge 6% of the sales price of the home, and that also covers what the buyer's agent is paid. There is no "normal" or "typical" commissions realtors charge. All commission is negotiable.

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What is my home worth?

The starting point of figuring this out is looking at what comparable homes have sold for in your area. When you hire us we will do a comparative market analysis for you to value your home. We approach it like an appraiser would. Getting an offer isn't what concerns us, we can easily make that happen. It's making sure the home will appraise for the offer amount that we pay attention to.

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How long will it take to sell?

That will depend on the market, pricing, marketing, the buyer, and the type of financing (if buyer is not paying cash) the buyer is using. If you hire us and follow our advice, it will sell as quickly as the current market will allow.

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How much are closing costs?

Title closing costs vary slightly, but often are around a half of one percent. These costs can be paid by the seller or the buyer which is negotiated in the offer. Buyer's loan closing costs are around 2 to 2.5% of the loan amount. These can also be paid by the buyer or the seller, another part of the negotiation.

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Do I have to stage my home?

It's not necessary. Not as in professional staging. You should keep it clean and minimize any clutter. Pack away what you most likely won't be using as your home is on the market. Statistics say staging helps quite a bit but those statistics include builder model homes every time a builder sells a house based on the model home.

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Do you do open houses?

We do, but they don't work the way you think. They're also not done for the reasons you think. Open houses rarely work in finding a buyer for your home... but they are great for realtors to find buyers to buy other homes. Open houses are made out to be a great and valuable thing realtors can do because it allows realtors to show value without really spending any money. Think about the MLS... it's a major thing realtors advertise that they do but whether they list your home or not it's the same $50-75 each month to pay for MLS access.

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Will I receive feedback?

Yes, detailed and consistently. We are very successful at getting constructive feedback from the agents that show the homes we list. We won't accept "It wasn't the right home for this buyer", we find out why it wasn't the right home.

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How do you communicate with sellers?

Email, text or phone calls. You as our client decide how communication will go.

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How often do you communicate with sellers?

You can expect to hear from us weekly at a minimum. If we get feedback that we think you need to know about right away (odors, possible leaks, etc.), we will contact you immediately. Once you are under contract with a buyer we will contact you with updates and when we necessary throughout the transaction.

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What experience do you have?

We have sold over 700 homes, and have over 25 years experience combined. We've sold regular homes, townhomes, condos, foreclosures and short sales. It's not uncommon for us to agree to sell a home that did not sell with another realtor previously.

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How long do you list my house for?

We ask for 6 months to a year, depending on the time of year. It will likely not take us that long to sell you home, we sell our listings much faster than the average in our market area. The reason we may ask for up to 1 year would be selling over the winter months when the market slows down, we would want the opportunity to sell in Spring if we listed during the Fall.

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Do I have to accept an offer?

You'll never have to accept an offer. We will give your our professional advice on any offers you receive. You'll be educated on all scenarios when you make the decision. The decision is yours. We provide, you decide.

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How long does it take to close?

Depending on the buyer's financing, you can close within 30 to 60 days from the date you accept an offer. Closing dates are negotiated between buyer and seller in the offer, and we guide you through that. If the buyer is paying cash, you can usually close within a few weeks if it is also acceptable to the buyer.

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How do showings work?

We use a professional showing service that will coordinate showings with you each time an agent requests a showing. The showing service can text, call or email you. Showings can be: must confirm, go ahead and show with no approval needed, or call ahead (just give you a heads up). A certain amount of notice can be requested, we suggest requiring as little notice as possible. We will put a Sentrilock lockbox on your home. This allows the realtors access after they have scheduled a showing. The box electronically tracks who goes in, out and when.

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Do I need an inspection?

Not on your own home. The buyer will have their own inspection on your home. Even if you do a pre-inspection (inspection on your home before putting it on the market), the buyer still has the right to their own inspection. Inspectors will always find something, and they don't always find the same things.

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Should I move out before listing?

It's very important to make sure your home shows well. Minimize any clutter and keep it clean for showings. Moving out before listing can create unnecessary stress unless it fits comfortably into your plans. Vacant homes sometimes do show better, but no one knows for certain how long it will take to sell, or if it won't sell at all.

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How is the market right now?

"It's always a good time to Sell! It's always a good time to Buy!" You won't hear us say this. It's either a Buyers Market or a Sellers Market. Talk to us and we will let you know what it is currently. In any market, identical homes often sell for very different prices... do you think the ones that sell at the higher prices are with more or less experienced realtors?

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Should I wait to sell?

That can depend on your situation, the time of year, the market. Everyone's situation is different. Talk to us and we will give you the information you need to make an informed decision.

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Should I sell now?

That can depend on your situation, the time of year, and the market. Everyone's situation is different. Talk to us and we will give you the information you need to make an informed decision.

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Do I need a home warranty to sell?

If it's important to a buyer, they'll ask for one. Many buyers don't care because they know what a home warranty is really worth. They wouldn't be pushed so much in the real estate industry if they were not a money maker. They range from about $400 to $800. While we do see claims where a warranty has proven useful, most of the time they go unused and only twice have we seen a claim worth more than the cost of the warranty.

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Do I need a real estate agent or realtor?

We highly recommend it. Do people sell homes without realtors to save money... yes. Do they actually save money... it's debatable. There definitely isn't a commission paid, but did the home sell for as much as it could have? As fast as it could have? With the best terms it could have? The first time an offer was accepted? There are a lot of things that when taken into consideration make an experienced realtor well worth what they are paid.

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Can I sell the home myself?

People sell homes by themselves all of the time. What's not clear is if it improves their bottom line, if it sells faster, etc. There are a lot of things we can all do ourselves to save money... is handling what could be the biggest financial transaction of your life one of those things? Most of those things we would rather do ourselves don't involve laws that must be followed, and they won't directly impact what could be the largest financial transaction of another person's life. 

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How does the process of selling work?

First we list the home, start showings, and provide you with feedback. Once we start receiving offers, we advise you on negotiating the terms of the offers. After offer acceptance, the buyer has a home inspection, you receive a list of inspection objection items (repair requests). We advise you on how to respond and negotiate on these items, and sometimes when to just tell a buyer "Take it, or leave it". The appraisal is ordered by the lender an appraiser appraises the home. Once the appraisal is done, we are on the home stretch to closing.

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What are the biggest obstacles in selling?

Finding a competent realtor to sell your home. It might sound funny, but when we represent a buyer the biggest obstacle we usually face is an incompetent realtor who listed the home for sale. If you hire the wrong one, it will cost you (as an example, a realtor selling their 5th home is involved in a negotiation with a realtor selling their 700th... that is not a level playing field). The right realtor will help you through many obstacles, most the time without you even knowing about and stressing over the obstacle.

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What benefits do you provide that other realtors do not?

We have a lot more experience than most realtors and have sold more homes than most realtors. Our experience will give you the competitive edge. We list your home not only in our local MLS, but also in the Denver area MLS. Denver agents have brought the buyers for many of our listings. Realtors know who we are, and many have worked with us so they know the transaction process is going to be smooth and they relay that to their clients. 

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Contact Information

The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686