Denver Real Estate News & Denver Real Estate Statistics Blog

In addition to being a collector of Denver real estate news and a generator of Denver real estate statistics, I will use this to share my experience, view point, and advice as a Denver Realtor & Denver real estate agent.

May 26, 2017

Flat Fee Denver Realtor & Real Estate Agent

What is a flat fee Denver Realtor? Flat fee and discount real estate listing agency in Denver comes in many different forms. I have been implementing a FULL SERVICE, flat fee and discount real estate model in my Denver real estate practice for over 2 years. I found that what I did to sell homes does not vary greatly no matter the price point. And I wanted to find a good deal that I could offer friends and family. I do not deviate from this structure to avoid the awkwardness of offering one person a better deal than another and having it discovered by the lesser benefiting party. My Denver full service, flat fee real estate model is $5,000 + the 2.8% that I pass through to the buyers' agent.

Here is a video about my full service, flat fee Denver real estate model.

 

 

How does the money flow in a real estate transaction in Colorado?

How do real estate agents get paid in a home sale in Colorado?

You need to know that although both agents are paid at simultaneously at closing, the seller is paying the listing brokerage one large sum, and then the listing brokerage is paying the buyer's agent out of that amount. The buyer's agent commission is advertised in the MLS (multiple listing service) with the listing for the house. Buyer's agents are discouraged from discriminating against showing homes with lower commission rates, but there is no way to know if an agent chooses not to show a home because of the commission rate offered. My bigger fear would be that an agent would speak negatively of a home, pointing out flaws or suggesting it is overpriced, if the commission rate is less than competing homes for sale. In my model I offer the most frequently offered amount in the Denver MLS (recolorado) of 2.8%. 

How much does my full service, flat fee real estate model cost metro Denver home sellers?

I charge 2.8% + my $5,000 flat fee.

Many real estate agencies charge 6% to sell your home. With a sales price of $380,000 (The median sales price April 2017) the total commissions paid with a 6% model would be $22,800.

Without a flat fee real estate estimated net amount to seller

With a sales price of $380,000 the total commissions paid with a 2.8% + $5,000 model would be $15,640, saving the average Denver home seller up to 7,160.

flat fee real estate estimated net amount to seller

But commission savings are meaningless unless all the pieces are place to still sell your home for top dollar.

What marketing do I do with my full service, flat fee Denver real estate model to sell homes for top dollar?

I implement every marketing strategy I have seen to position all of my listing clients to sell for top dollar and create bidding wars whenever possible.

1. Professional photography

I explain to clients that everybody sees your home online before they see it in person. Photos are the new curb appeal. And quality photography can make a huge difference in how many people come to see the home, which translates into the number and price of offers received. The company I use has talented and experienced photographers with top of the line HD photographic technology.

Flat fee Denver real estate professional photography

2. Floor plans

Virtuance also creates floor plans. I find this especially useful for flyers, so that I can encourage potential buyers to take home a flyer and imagine their furniture in the home. Also the online virtual tour shows on the floor plan where each picture was taken.

flat fee Denver real estate virtual tours and floor plans

3. Dedicated URL

I create the website address of your address.com, for instance www.4125Clay.com. This is displayed on top of the luxury yard arm and on the flyers. It makes it easy for people to remember your address and look up information about your home.

flat fee Denver real estate luxury yard arm and dedicated url

4. Luxury yard arm

This used to mean something but almost nobody uses the old signs anymore.

5. MLS and syndication.

I am a member of 2 local MLS's: www.recolorado.comwww.iresis.com . In addition to listing on the MLS, the home is displayed on all major public web sites and all agents' web sites with IDX searches.

flat fee Denver real estate listing syndication

6. High quality flyers

I like a flyer with the floor plan on the back for viewing buyers to take with them. Hopefully they want to think about how well their furniture would fit. I also like them taking something with them that would help them give the home a second thought if they were not initially wooed. 

flat fee Denver real estate flyers

7. Open houses

I like to do 1 open house. I advertise the open house in the first line of the description, in the MLS, on Zillow, and Realtor.com . There are 2 reasons to do the open house. The first reason I do an open house is to try and find an unrepresented buyer, reducing your total commissions to $10,000. The second, and more common reason, is to enable buyers, whose agents are out of town, to view the home. More than a few times I have received the strongest offers from these buyers and their agents.

8. Showing coordination

I use showingtime.com or showings.com for my showing coordination. A barrier remains between you and the buyer's agent, while utilizing technology to have showing requests immediately sent to you for approval. Both services also have feedback systems and surveys for buyer's agents to let you and I know what they thought of the home. I am willing to use a manual lockbox or a digital sentrilock lockbox to assist, depending on your preference.

9. E-mails advertising to agents with prospective buyers.

Did you know we enter buyers into the MLS the same as we enter sellers? You probably do know this. A real estate agent has probably set you up with a home search that fit a set of criteria that you provided. Did you know, when I enter a listing into the MLS, I can see a list of agents that have buyers for whom my listing fits their criteria. I am pretty savvy with technology and mailchimp. I will send an e-mail blast notifying these agents of my new listing, sometimes 1,000 agents. I will also be able to see the agents who have a client who favorites my listing. I will be reaching out to those agents directly.

What other services do I offer with my full service, flat fee Denver real estate model?

1. Price analysis

I advise you as to my belief of a realistic sales price and best list price.

2. Contract negotiation

I assist in the initial and ongoing contractual negotiations. The devil is in the details, and I help you understand how the terms of the contract will affect you. This includes positioning you to buy and sell a home simultaneously if desired.

3. No risk and no obligation

You can terminate your contract with me at any time, if you have not signed an agreement with a buyer. I do not want anybody stuck working with me. I take pride in my work and work as though I could lose my job tomorrow, if I don't do it today.

What are my duties to you as a full service, flat fee Denver Realtor?

  1. Promoting the interests of Seller with the utmost good faith, loyalty and fidelity; 
  2. Seeking a price and terms that are acceptable to Seller; and 
  3. Counseling Seller as to any material benefits or risks of a transaction that are actually known by Broker.

Broker must exercise reasonable skill and care for Seller, including but not limited to the following: 

  • Performing the terms of any written or oral agreement with Seller; 
  • Presenting all offers to and from Seller in a timely manner regardless of whether the Property is subject to a contract for Sale; 
  • Disclosing to Seller adverse material facts actually known by Broker; 
  • Advising Seller regarding the transaction and advising Seller to obtain expert advice as to material matters about which Broker knows but the specifics of which are beyond the expertise of Broker; 
  • Accounting in a timely manner for all money and property received; and 
  • Keeping Seller fully informed regarding the transaction. 

Broker must not disclose the following information without the informed consent of Seller:

  • That Seller is willing to accept less than the asking price for the Property; 
  • What the motivating factors are for Seller to sell the Property; 
  • That Seller will agree to financing terms other than those offered; 
  • Any material information about Seller unless disclosure is required by law or failure to disclose such information would constitute fraud or dishonest dealing; or 
  • Any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the Property.  

 


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May 14, 2017

Denver Realtor Reviews Price Analysis University Hills 3478 S Birch St

Homes for sale in University Hills in Denver, click here.

 

 

Comparable Home Sales To University Hills 3478 S Birch

Criteria for narrowing down comparable properties

  • Status is 'Active'
  • Status is 'Under Contract'
  • Status Contractual Search Date is 05/14/2017 to 11/15/2016
  • Status is 'Sold'
  • Status Contractual Search Date is 05/14/2017 to 01/14/2017
  • Type is 'Detached Single Family'
  • Style is one of '2 Story', '3+ Story', 'Bi-Level', 'Multi-Level', 'Raised Ranch', 'Ranch/1 Story', 'Tri-Level'
  • Latitude, Longitude is around 39.66, -104.93
  • SqFt Above is 1484 to 2684
  • Year Built is 1949 to 1959
  • Parking Parking Type is 'Garage (Detached)'
  • Parking Parking Type is 'Garage (Attached)'

The average sold price of the comparable sales is $531,465. 3478 S Birch is bigger than all of the comps. The average price per finished square foot of the comps is $263. 3478 S Birch is listed for $172 per finished square foot. 

3 Automatically Generated Values

Rentometer estimate - Median rent for similar homes is $2,300

Click here for a neighborhood scout report for 3478 S Birch.

University Hills Market report

 

 


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May 14, 2017

Denver Realtor Reviews Athmar Park 1522 W Alaska Price Analysis

Video Walkthrough Of 1522 W Alaska

Comparable Sales To 1522 W Alaska

Comparable Sales To 1522 W Alaska

The average similar home that sold was for $292,243, but most of the sales were larger and with 1 extra bedroom. The average price per square foot of the solds is $300 while 1522 W Alaska is priced at $312. Given that it is still priced less than all of the other sold homes, I think being priced a little higher per square foot will not hurt the possibility of appraising.

2 Automatically Generated Values

Realist - RealAVM™ Range: $213,106 - $250,168

Zestimate - $270,279

 


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April 22, 2017

West Highlands Neighborhood Price Opinion April 22 2017

Click here to see all West Highlands Neighborhood Homes For Sale.

Highlands Neighborhood Subject Property Details

  • Style: Story and a half
  • Year Of Construction: 1891
  • Bedrooms: 3
  • Bathrooms: 1
  • Total Sqft: 1,519
  • Finished Sqft: 1,387

Highlands Neighborhood Comparable Search Parameters

  • Status is 'Active'
  • Status is 'Under Contract'
  • Status Contractual Search Date is 04/22/2017 to 10/24/2016
  • Status is 'Sold'
  • Status Contractual Search Date is 04/22/2017 to 01/22/2017
  • Type is 'Detached Single Family'
  • Style is one of '2 Story', '3+ Story', 'Bi-Level', 'Multi-Level', 'Raised Ranch', 'Ranch/1 Story', 'Tri-Level'
  • Latitude, Longitude is around 39.76, -105.04, is around 39.77, -105.03
  • Total Bedrooms is 2 to 4
  • Total Baths is 1
  • SqFt Above is 987 to 1787
  • Year Built is 0 to 1940

Comparable West Highlands Neighborhood Home Sales

West Highlands Neighborhood Comparable Home Sales

West Highlands Neighborhood CMA

The highest comparable sale sold for $548,000. The average comparable home sold for $494,167 and $334 per finished finished square foot. If the subject property was priced at $334 per finished square foot it would be priced at  $463,258.

3 Automatically Generated Values

  1. Zestimate - $506,681
  2. Realist - RealAVM™ Range: $331,750 - $458,132
  3. RealtyOfCO - $493,100

Net Sheet At Various Price Points

West Highlands Neighborhood Net Sheet

Click here to see the list of seller services offered by Denver Realtor Christopher Gibson


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April 19, 2017

Araphaoe Highlands Price Analysis April 19

Click here to see all homes for sale in the Arapahoe Highlands

Subject property details

  • Style: Tri Level with basement
  • Year Built: 1973
  • Total Sqft: 3,811

Search parameters to determine comparable sales

  • Status is 'Active'
  • Status is 'Under Contract'
  • Status Contractual Search Date is 04/19/2017 to 10/21/2016
  • Status is 'Sold'
  • Status Contractual Search Date is 04/19/2017 to 12/20/2016
  • Type is 'Detached Single Family'
  • Style is one of '2 Story', '3+ Story', 'Bi-Level', 'Multi-Level', 'Raised Ranch', 'Ranch/1 Story', 'Tri-Level'
  • Latitude, Longitude is around 39.58, -104.97
  • SqFt Total is 2811 to 4811
  • Year Built is 1963 to 1983

I had to rule some listings that came up in the Four Lakes subdivision.

Similar Sales in the Arapahoe Highlands Neighborhood

Similar Sales in the Arapahoe Highlands Neighborhood

Similar Sales in the Arapahoe Highlands Neighborhood

 

 

The highest sold price is $505,000. The average sold price is $488,180. The average price per total square foot is $135 per total square foot. If the subject property was valued at $135 per square foot it would be valued at $514,485. 

3 Automatically Generated Values

Net sheet at few different sales prices


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April 8, 2017

Price Opionion of 154 S Cherokee St a Row Home in the Baker Neighborhood

In order to find similar row homes that have sold comparable to 154 S Cherokee I used the following search parameters.

  • Status is 'Active'
  • Status is 'Under Contract'
  • Status Contractual Search Date is 04/08/2017 to 10/10/2016
  • Status is 'Sold'
  • Status Contractual Search Date is 04/08/2017 to 01/08/2017
  • Type is 'Attached Single Family'
  • Style is one of 'Other Multi-unit', 'Townhouse'
  • Total Bedrooms is 0 to 2
  • SqFt Above is 0 to 800
  • Year Built is 0 to 1960

I did my search within the following map boundaries. Click here to see the MLS listings of all the most recent similar sales.

Baker neighborhood comparable sales map to 154 S Cherokee

Here is a breakdown of the price per square foot comparisons of the most similar sales

Price per square foot comparison of homes like 154 S Cherokee

The average price of the most recent similar sales is $307,975. The average price per square foot of the most recent similar sales is $483. If 154 S Cherokee was priced at $483 per square foot  it would be valued at $238,602. That being said, no comparable property has sold in the last 3 months for less than $260,000. See more information below.

 


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March 25, 2017

Denver Realtor Reviews Home Showings March 11 2017

These are the homes we saw on March 11 2017

This is the basic search criteria that led to choosing these homes to see.Storey Donnely Home Search

  • Status is 'Active'
  • Type is one of 'Attached Single Family', 'Detached Single Family'
  • Style is not 'Condominium'
  • Total Bedrooms is 2+
  • Total Baths is 2+
  • Price is 0 to 315000
  • SqFt Total is 1300+
  • SqFt Finished is 1300+
  • Exterior Features is one of 'Covered Deck', 'Covered Patio', 'Deck', 'Fence', 'Garden Area', 'Patio', 'Sprinkler System', 'Yard'

7338 Elliot Rating 6.5 & 4.5

7338 Elliot1 car garage. Newer windows. Brick home. Neighborhood iffy. Private entry to basement. Really like house. No egress windows in basement. Updated bathrooms. Big eating area 

8791 Quigley rating - 4 & 5.5

8791 QuigleyWood floors rough. Nice big updated master bathroom. Spare bathroom needs help. Kitchen needs help.House needs a lot of work. Neighborhood nicer. Nice bigger back patio. Old windows.

17268 Waterhouse rating 2 & 7

17268 WaterhouseGood size eating area. Tall ceilings. Very intense smoke smell. Nice wrought iron railing. The backyard is not an enclosed and it has no grassy space. Oversized 2 car garage. Nice master finishes with a large walk-in closet. Double vanity in the master bathroom.

8531 Golden Eye rating 7.5 & 7.5

8531 Golden EyeSome road noise in the front. Laminate floors on the upper level. Vaulted ceilings on the upper level. Big deck deck in the backyard with a gardening area that is fenced off. Stairs up or down when you walk in the house. Garage on different level than kitchen. 

7866 S Kittredge rating 6 & 6

7866 S KittredgeReally big living room. Laminate floors. Good eating space in the kitchen. Fenced-in yard. Big walk-in closet in the master bedroom. Nicer vanity in the master bathroom. 


16484 Wagontrail 8 & 8

16484 WagontrailTile floor in the kitchen laminate floor in the living room. Good curb appeal but has the plastic siding. Kitchen is fairly well updated but Lyons his look older. Carpet in the bedrooms is looking like it needs to be replaced. Bathrooms are fairly well updated but the master bathroom needs some work around the shower. Nice bathroom in the basement period two basement bedrooms. Only door to the backyard is through the garage. Corner lot.

2920 S Biscay rating ~low but forget values

2920 S BiscayNo grass in the front yard. Newer windows. New carpet needed. Attic fan. Big master bedrooms. Spare bathroom has some updates.

14867 E Dartmouth ratings not recorded but I believe it was 7 & 7

14867 E DartmouthGreat remodel. Plenty of room for an RV. Stairs up and stairs down when you walk in. Great open layout. Big living room steps up from the kitchen. Biggest drawback was the stackable laundry in the lower level bathroom. No room for full size washer and dryer. Big back yard.

16757 E Mansfield ratings not recorded but very low

16757 E MansfieldLiked neighborhood. Weird plumbing in master bedroom closet. Corners cut everywhere you look on the remodel.


 Denver Realtor Reviews Of Denver Real Estate Agent Christopher Gibson

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March 9, 2017

Denver Realtor Reviews: 1272 Macon St Anshutz Aurora Home For Sale

Click here to see all Anschutz Aurora Homes For Sale

Denver Realtor Reviews 1272 Macon St Anschutz Aurora 

Great curb appeal. Quiet block. Big yard. Hardwood floors. Floors were in a little bit rough shape. Laundry in the kitchen. Kitchen finishes were good. Kitchen felt cramped. Bedroom sizes were good. Bathroom finishes were just ok. Storage shed in the back yard. 

Rental analysis

  • Zillow - $1,350
  • Rentometer - $1,096
  • Average - $1,223
  • Rent as a percentage of list price - 0.64%

 

Comparable sales to 1272 Macon St Anschutz Aurora

 

The average of the sold properties is $210,667. The average price per square foot is $270. If 1272 Macon was $270 per square foot it would be priced at $197,910.

3 automatically generated values

 

Click here to see demographics, school, and crime information for 1272 Macon St Aurora.

Click here to see demographics, school, and crime information for 1272 Macon St Aurora.

 


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March 9, 2017

Denver Realtor Reviews: 1760 Galena Aurora Anschutz Home For Sale

Click here to see all Anschutz Aurora Homes For Sale

Denver Realtor Reviews: 1760 Galena Aurora Anschutz Home For Sale

Very nice finishes. Home sits very far back in the lot. Good space for eating. Only 1 bedroom on the main floor. Newer windows. Crown molding. Stainless steel appliances. Big master bathroom on main floor. 2 egress windows in basement. Basement ceiling heights a bit low. Low clearance into the basement. 1 bedroom on the main floor may affect appraisal.

Rental Analysis

  • Rentometer - $1,777
  • Zillow - $1,600
  • Average - $1688
  • Percentage of list price - 0.67%

Comparable sales to 1760 Galena Anschutz Aurora

The average price per finished square foot of the comparable properties is $183 per square foot. If 1760 Galena was priced at $183 per square foot it would be priced for $222,345. The average sold properties are $219,982.

3 Automatically Generated Values:

 

 

 


 Denver Realtor Reviews Of Denver Real Estate Agent Christopher Gibson

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March 7, 2017

Denver Realtor Reviews: Summerfield Villas

Click here to see all Summerfield Villas townhomes for sale.

Denver Realtor Reviews: Summerfield Villas

Click here to see all recent home sales in Summerfield Villas

The average 1 bathroom home sale was $128,750. The average price per square foot was 128.50. If this home was priced at $128.50 it would be worth $128,885. There is a home with a similar number of square feet and features under contract for $145,000.

 


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