Should You Write a “Love Letter” to a Home Seller?
Dan S | Apr 26, 2022
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By Olivia G on Jan 21, 2022
The housing market in Denver over the past few years has been characterized by low interest rates, low inventory, and ready buyers. A city desirable for its location and job market, Denver is attracting a growing number of young professionals and young families, many of whom are looking for a place to live and need help navigating the exceptionally competitive local real estate market. How can they make sure they find the right house and put in a winning bid, instead of fighting a losing battle for months? Enter the role of the real estate agent.
Even with popular house listing sites and countless other digital ways to monitor the housing market, a real estate agent is an invaluable resource. But choosing a real estate agent is no small task. Especially when the housing market is as hot as it has been -- and will likely continue to be -- in Denver.
In January 2022, Denver buyers looking for single-family detached homes faced an average price of over $700,000, according to the Denver Metro Association of Realtors monthly report. And homes continually sell above list price while staying on the market for less than three weeks.
Neighborhoods like Capitol Hill, Highlands, LoDo, and Baker, for example, are gaining popularity for being walking distance to family-friendly food and attractions and prospective homebuyers should expect to face stiff competition when making offers.
For buyers to have a chance at winning properties in these kinds of hot Denver neighborhoods, they need a real estate agent who is going to be proactive when it comes to getting showings, negotiating, and closing quickly.
Buying a home is one of the most important decisions of your life. So choosing a real estate agent that is knowledgeable and experienced is critical. Not only that, but a buyer’s agent should present you with options and financial strategies that will put you ahead of the competition.
It can be difficult to know how to choose a real estate agent that has all of these qualifications. There are many online tools and databases for researching buyers agents. And don't forget to ask your network of friends, family, and coworkers for personal recommendations! You can start by putting together a list of agents that may be a good fit. But a face-to-face or phone interview is one of the best ways to get a feel for how they communicate and learn if they are a good fit for your needs.
During your interview call with potential Denver real estate agents, make sure you’re prepared with a list of questions. Some of these questions should be standard for the industry. But you should also include scenarios and questions that are personal to your situation as a buyer.
Here’s a checklist of some topics you can cover when talking with a buyer's agent in an interview. These questions are designed to help you gauge how they communicate and what they'll be like to work with.
Questions to help you choose a real estate agent
Ask about their knowledge of the Denver market
What are current market conditions and what kinds of offers are sellers looking for?
Which neighborhoods best meet your needs and desired lifestyle?
Which areas are they most familiar with and what other places should you be considering?
Their understanding of your financial options and opportunities
How much house can you realistically afford?
What is their experience working with Accept.inc and making all-cash offers?
Their experience managing and closing transactions
What's an example of a difficult purchase agreement they've had to facilitate?
Have they worked with a Denver mortgage lender specializing in cash offers?
Their portfolio of sales
Ask specific questions about working with buyers similar to you and your financial situation
Ask specific questions about recent home sales in neighborhoods where you’re looking to buy
How many deals have they successfully brokered in Denver in the last year?
Ultimately, the three things that matter the most when choosing the best Denver real estate agent in your specific home search are as follows:
One: Do they listen to you and understand your needs?
Two: Are they responsive? This means that they are quick to respond to you and to other parties involved in the process.
Three: Do they have a track record of being able to close a lot of deals successfully?
Your initial conversations with potential buyer's agents should be used to give you a good sense of how each agent stacks up in these three areas.
And then don't forget to make sure you like this person. After all, you may be spending a lot of time with them over the coming weeks or longer. You want to make sure you will feel like you're getting the level of service, attention, and respect of your needs that will make you feel good about the process.
Figuring out how to choose a realtor in Denver is no small commitment, but a good buyer-agent partnership will make the process not just easier, but more successful. Your agent is your primary advocate when dealing with the seller and is a key member of your home-buying team. So choosing the right real estate agent is essential for securing your Denver dream home.
One final note: In a competitive sellers' market like Denver, you may have the best real estate agent in the greater metro area, but if you're not able to write a competitive offer, you'll still face an uphill battle. Real estate agents need to be well-versed in the various financial strategies available to buyers to give them every possible advantage. Understanding how to leverage cash offers, for example, to win your dream home could be the difference between having your offer accepted or not.
Denver real estate agents who work with Accept.inc know that buyers making Accept.inc-backed offers are four times more likely to win a home and be able to negotiate better terms than buyers with traditional mortgages. With a real estate agent who is on the ball and a responsive lender like Accept.inc – a combo that can assure sellers you'll go from contract to closing fast – your offer is sure to outshine your competition.
Before you begin looking at houses in earnest with your new real estate agent, you'll need to have your financing lined up. If you haven't done so already, be sure to check out our tips for choosing the best mortgage lender.
Accept.inc works with ordinary Denver homebuyers to help them buy a house with the power of cash and then pay it off like a regular mortgage over time.
Apply to become Cash ApprovedTM and be ready to make your next house offer an all-cash offer in just a few days! Learn more about Accept.inc and how we work with Denver homebuyers and their real estate agents throughout the buying process!
Dan S | Apr 26, 2022
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