Colorado Luxury Home Brokers

U.S. Home Prices Hit an All-Time High in October, Case-Shiller Says "U.S. home prices accelerated at their fastest annual rate of the year in October," Case-Shiller says.

Winter Wonderland.

SO…YOU WANT TO BE A REALTOR

There is a lot of talk in the news about real estate agent commissions. They LOVE what they do and they do it because they LOVE helping people but there is almost always a huge misconception on what they do and how they get paid. It's not a secret so here ya go...😊

The average FULL TIME REALTOR’s earnings last year was $31,900 @ 40+ hours a week. (Notice I wrote full time 40+ hours not 0-20 hours a week) which is well below the living wage. As a REALTOR they do not get paid a hourly wage or salary and they
only get paid if they sell a home and it closes. They can only get paid by broker to broker. As an agent you could work with someone days, weeks, months, or years with no guarantee of a sale ever.

Essentially they wake up each day unemployed going on Job Interviews and they deal with constant rejection. They dedicate time away from family, use their time, gas, pay for babysitters, miss dinner and weekends and rarely take vacations. They are on 24/7! They constantly need to be on, or you could miss an opportunity. Once they do close a home, half goes to the other persons agent from the remaining half. They have lots of upfront expenses that must be paid out before they even get paid:

Broker Splits and Fees
Office rent and utilities
MLS Fees
NAR Fees
Local Association Fees
E&O Business Insurance
Extended Auto Insurance
Self-Employment Tax
State Licensing Fees
Advertising Fees
Showing Service Fees
Website Fees
Assistant's Salaries
Showing partners
Transaction coordinator
Yard Signs
Photographers
Videographers
Office Supplies
Business Cards
Property Flyers
Electronic Lockboxes
Continued RE Education
Legal Fees
Gas
Income taxes are not taken out so they have to put that aside around 25-30%.

Don’t forget health insurance if they don’t have a spouse who provides it.

As a listing agent they have lots of tasks far more than just selling a home.

1. Prepare Listing Presentation for Sellers
2. Research Sellers Property Tax Info
3. Research Comparable Sold Properties for Sellers
4. Determine Average Days on Market
5. Gather Info From Sellers About Their Home
6. Meet With Sellers at Their Home
7. Get To Know Their Home
8. Present Listing Presentation
9. Advise on Repairs and/or Upgrades
10. Provide Home Seller To-Do Checklist
11. Explain Current Market Conditions
12. Discuss Seller’s Goals
13. Share Your Value Proposition
14. Explain Benefits of Your Brokerage
15. Present Your Marketing Options
16. Explain Video Marketing Strategies
17. Demonstrate 3D Tour Marketing
18. Explain Buyer & Seller Agency Relationships
19. Describe the Buyer Pre-Screening Process
20. Create Internal File for Transaction
21. Get Listing Agreement & Disclosures Signed
22. Provide Sellers Disclosure Form to Sellers
23. Verify Interior Room Sizes
24. Obtain Current Mortgage Loan Info
25. Confirm Lot Size from County Tax Records
26. Investigate Any Unrecorded Property Easements
27. Establish Showing Instructions for Buyers
28. Agree on Showing Times with Sellers
29. Discuss Different Types of Buyer Financing
30. Explain Appraisal Process and Pitfalls
31. Verify Home Owners Association Fees
32. Obtain a Copy of HOA Bylaws
33. Gather Transferable Warranties
34. Determine Need for Lead-Based Paint Disclosure
35. Verify Security System Ownership
36. Discuss Video Recording Devices & Showings
37. Determine Property Inclusions & Exclusions
38. Agree on Repairs to Made Before Listing
39. Schedule Staging Consultation
40. Schedule House Cleaners
41. Install Electronic Lockbox & Yard Sign
42. Set-Up Photo/Video Shoot
43. Meet Photographer at Property
44. Prepare Home For Photographer
45. Schedule Drone & 3D Tour Shoot
46. Get Seller’s Approval of All Marketing Materials
47. Input Property Listing Into The MLS
48. Create Virtual Tour Page
49. Verify Listing Data on 3rd Party Websites
50. Have Listing Proofread
51. Create Property Flyer
52. Have Extra Keys Made for Lockbox
53. Set-Up Showing Services
54. Help Owners Coordinate Showings
55. Gather Feedback After Each Showing
56. Keep track of Showing Activity
57. Update MLS Listing as Needed
58. Schedule Weekly Update Calls with Seller
59. Prepare “Net Sheet” For All Offers
60. Present All Offers to Seller
61. Obtain Pre-Approval Letter from Buyer’s Agent
62. Examine & Verify Buyer’s Qualifications
63. Examine & Verify Buyer’s Lender
64. Negotiate All Offers
65. Once Under Contract, Send to Title Company
66. Check Buyer’s Agent Has Received Copies
67. Change Property Status in MLS
68. Deliver Copies of Contact/Addendum to Seller
69. Keep Track of Copies for Office File
70. Coordinate Inspections with Sellers
71. Explain Buyer’s Inspection Objections to Sellers
72. Determine Seller’s Inspection Resolution
73. Get All Repair Agreements in Writing
74. Refer Trustworthy Contractors to Sellers
75. Meet Appraiser at the Property
76. Negotiate Any Unsatisfactory Appraisals
77. Confirm Clear-to-Close
78. Coordinate Closing Times & Location
79. Verify Title Company Has All Docs
80. Remind Sellers to Transfer Utilities
81. Make Sure All Parties Are Notified of Closing Time
82. Resolve Any Title Issues Before Closing
83. Receive and Carefully Review Closing Docs
84. Review Closing Figures With Seller
85. Confirm Repairs Have Been Made
86. Resolve Any Last Minute Issues
87. Attend Seller’s Closing
88. Pick Up Sign & Lock Box
89. Change Status in MLS to “Sold.”
90. Close Out Seller’s File With Brokerage

As a buyers agent they also have many tasks.

1. Schedule Time To Meet Buyers
2. Prepare Buyers Guide & Presentation
3. Meet Buyers and Discuss Their Goals
4. Explain Buyer & Seller Agency Relationships
5. Discuss Different Types of Financing Options
6. Help Buyers Find a Mortgage Lender
7. Obtain Pre-Approval Letter from Their Lender
8. Explain What You Do For Buyers As A Realtor
9. Provide Overview of Current Market Conditions
10. Explain Your Company’s Value to Buyers
11. Discuss Earnest Money Deposits
12. Explain Home Inspection Process
13. Educate Buyers About Local Neighborhoods
14. Discuss Foreclosures & Short Sales
15. Gather Needs & Wants Of Their Next Home
16. Explain School Districts Effect on Home Values
17. Explain Recording Devices During Showings
18. Learn All Buyer Goals & Make A Plan
19. Create Internal File for Buyers Records
20. Send Buyers Homes Within Their Criteria
21. Start Showing Buyers Home That They Request
22. Schedule & Organize All Showings
23. Gather Showing Instructions for Each Listing
24. Send Showing Schedule to Buyers
25. Show Up Early and Prepare First Showing
26. Look For Possible Repair Issues While Showing
27. Gather Buyer Feedback After Each Showing
28. Update Buyers When New Homes Hit the Market
29. Share Knowledge & Insight About Homes
30. Guide Buyers Through Their Emotional Journey
31. Listen & Learn From Buyers At Each Showing
32. Keep Records of All Showings
33. Update Listing Agents with Buyer’s Feedback
34. Discuss Home Owner’s Associations
35. Estimate Expected Utility Usage Costs
36. Confirm Water Source and Status
37. Discuss Transferable Warranties
38. Explain Property Appraisal Process
39. Discuss Multiple Offer Situations
40. Create Practice Offer To Help Buyers Prepare
41. Provide Updated Housing Market Data to Buyers
42. Inform Buyers of Their Showing Activity Weekly
43. Update Buyers On Any Price Drops
44. Discuss MLS Data With Buyers At Showings
45. Find the Right Home for Buyers
46. Determine Property Inclusions & Exclusions
47. Prepare Sales Contract When Buyers are Ready
48. Educate Buyer’s On Sales Contract Options
49. Determine Need for Lead-Based Paint Disclosure
50. Explain Home Warranty Options
51. Update Buyer’s Pre-Approval Letter
52. Discuss Loan Objection Deadlines
53. Choose a Closing Date
54. Verify Listing Data Is Correct
55. Review Comps With Buyers To Determine Value
56. Prepare & Submit Buyer’s Offer to Listing Agent
57. Negotiate Buyers Offer With Listing Agent
58. Execute A Sales Contract & Disclosures
59. Once Under Contract, Send to Title Company
60. Coordinate Earnest Money Drop Off
61. Deliver Copies to Mortgage Lender
62. Obtain Copy of Sellers Disclosure for Buyers
63. Deliver Copies of Contract/Addendum to Buyers
64. Obtain A Copy of HOA Bylaws
65. Keep Track of Copies for Office File
66. Coordinate Inspections with Buyers
67. Meet Inspector At The Property
68. Review Home Inspection with Buyers
69. Negotiate Inspection Objections
70. Get All Agreed Upon Repair Items in Writing
71. Verify any Existing Lease Agreements
72. Check In With Lender To Verify Loan Status
73. Check on the Appraisal Date
74. Negotiate Any Unsatisfactory Appraisals
75. Coordinate Closing Times & Location
76. Make Sure All Documents Are Fully Signed
77. Verify Title Company Has Everything Needed
78. Remind Buyers to Schedule Utilities
79. Make Sure All Parties Are Notified of Closing Time
80. Solve Any Title Problems Before Closing
81. Receive and Review Closing Documents
82. Review Closing Figures With Buyers
83. Confirm Repairs Have Been Made By Sellers
84. Perform Final Walk-Through with Buyers
85. Resolve Any Last Minute Issues
86. Get CDA Signed By Brokerage
87. Attend Closing with Buyers
88. Provide Home Warranty Paperwork
89. Give Keys and Accessories to Buyers
90. Close Out Buyer’s File Brokerage

Whew…exhausting isn’t it!?! 🤯

✨You don't need to buy or sell a home to support your agents real estate business – here are just a few simple ways to show your support!⁣

By sharing one of their listings, sending a friend or family member their way, letting them connect you with agents outside their area for a broker to broker referral, or leaving them a positive comment or review, this helps them feel seen and supported - (thanks to you)! ❤️✨

7 Answers to Your Questions About Inflation and Interest Rates

7 Answers to Your Clients’ Questions About Inflation and Interest Rates Actionable insights on inflation, mortgage rates, and new construction for agents to use when advising buyers and sellers.

If you have awesome antiques in your home - we are automatically friends... :)

Choose Happiness 🎉

While inventory (number of listings) continues to grow it is still less than historical averages and even though interest rates continue to increase, there is still a demand for homes as is reflected in the average and median prices, albeit at a much slower rate than in the past several years.

Buyers don’t get left out in the cold.

Rents are still much higher than owning.

Average Sales Price UP 10.0%
Median Price UP 9.5%

Residential Units Sold Down 13.8%
Inventory Levels UP 169.7%

Number of Listings UP 122.79%

Average Days on Market: 34 days UP from 32 days last month
Interest Rates Up Slightly 6.9% comparted to last month at 6.9%

*This information is deemed reliable, but not guaranteed. It is intended to show market trends and should not be used to evaluate individual properties.
Sources for this information include but are not limited to: El Paso County Clerk and Recorder, El Paso County Public Trustee, Empire Title of Colorado Springs LLC, the Pikes Peak Multiple Listing System.

Payment-to-Income Ratio Sheds Light on Regional Housing Trends Western U.S. housing markets have cooled much more quickly than other regions, according to Zonda analysis.

A shifting market can be a very good thing. Adapting and Pivoting plans may be necessary. We no longer have 80 Offers per home and we no longer have to pay over the Appraised Value. The reason the real estate market has cooled down is due to rising Interest rates. They have risen from zero which was foolish for the government to manipulate rates that low, to a more reasonable 7 percent which is the average running Interest rate over long timeframes. In the late 1970's the Interest rates were around 20%, so we are still in a good range. We now have Seller concessions again, which is a big welcome from the last few years. It is still a good time to buy a home. If you are wanting the best deal possible - NOW is the time, in this market. If you are over 62 years old - WE NEED TO TALK - HAVE I GOT A DEAL FOR YOU !!! Message me here and let's see what your options are.....

What past recessions teach us about today's real estate market We may not enter a recession, but real estate agents can prepare for any potential consequences by examining recent economic downturns.

46 Backyard Ideas That Will Keep You Outside All Summer Long

Beginning July 1, radon testing professionals will need to be licensed by the Colorado Department of Regulatory Agencies.

This recent law came from HB 21-1195 and will have two different licensing programs: one for measurement and another for mitigation.

DORA Spokespeople state that the increase in radon levels in Colorado homes created a market for “unqualified individuals who are representing themselves and practicing as radon professionals.”

Radon is a naturally occurring gas and is the second leading cause of lung cancer in the U.S.

There were 500 deaths because of it in Colorado last year. Radon testing is an important part of the home inspection process.

per Colorado Association of Realtors

MARKET UPDATE - YEAR OVER YEAR

MAY 2022 vs. 2021 MLS Stats. *

Average Sales Price UP 14.3%
Median Price UP 14.7%
Residential Units Sold UP 4.4%
Inventory Levels UP 36.3%
Number of Listings UP 48.3%
Average Days on Market: 14 days
Interest Rates 5.23%

Folks, this is NOT temporary, and it will go Higher....

I've been saying for 3 years to BUY before the Market changes ----

Wellllllll,

It Has Changed, and it will be Decades before or IF it ever goes back, personally I think the 3% Rates are gone forever, but I'm no Economist, I just spend enormous amounts of time researching the global economies.

The Fed is meeting right this minute and is expected to raise rates again today, they will announce at 2pm EST.

Today - is the best it's gonna be, (probably for decades to come), so if you need/want/or are planning on buying - NOW is your last opportunity at these rates.

In the 80's rates were 12% and 18% - that is where we are heading and I think to never come back to 5%, so message me now if you are ready to move fast....

For those of you that are wondering if the market is slowing - YES it is. Sellers are LOWERING their prices a little and sitting on the market more than 16 hours, but not by much.

Here is the skinny - This is an example to help make it easier to understand and share with others:

Say a house will legit Appraise for 500K, but the Market is soooo Hotttt that it is selling for 600k in 12 hours, well now with rates going up, the same home is selling for less, it's now selling at 575K (a lowered price of the over-inflated price) and it take a couple days to go under contract instead of a couple of hours.

So this is not a collapse of the market - it is a correction of the over inflated market.... Complete difference...

It is not time to panic, this is the correction everyone has been waiting and hoping for.

And with what I have learned there is only two solid ways to cool the Hot Market - one is over supply of homes for sale (totally not the case right now, we are still 4 million homes behind what is needed nationwide), or raise Interest rates.

*This information is deemed reliable, but not guaranteed. It is intended to show market trends and should not be used to evaluate individual properties. Sources for this information include but are not limited to: El Paso County Clerk and Recorder, El Paso County Public Trustee, Empire Title of Colorado Springs LLC, the Pikes Peak Multiple Listing System.

Stats gathered by my amazing professional friends at Empire Title. .

When it comes time to buy that 1.3 million dollar 💵 fixer upper home 💒- You be sure to call me ☎️.....

I got you... 😁

.... I'm out. 💚🍀😁 🍀💚

Exp Realty is opening in Greece 🇬🇷...

Sardinia is one of the Blue Zone areas to live in as the most healthiest on the globe...

I have a great contact if you are considering a move to healthy living or a vacation home that you can Air BnB and make passive income on...

Message Christine here...

Welcome to Walmart - Here's your new Mortgage Loan...
🤷‍♀️

Welcome to Walmart. Here's your mortgage - HousingWire Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services.

I've been thinking about the levels of corruption and control happening the last 24 months.....

Canada - shuts off access to bank accounts.

Russia- turns off a Countries Internet.

All Countries FORCE new injections on everyone.
" For the good of everyone "

Now ask yourself: Where's the most 💰💰💰💵💵💵???

Retirement Accounts!!!

Does it make sense to anyone else that the Government will soon require that the "National Debt " should be paid by a lump sum "National Contribution " by everyone for " The good of everyone "?

Other Countries have taken money from their people without asking (Venezuela etc), I'm certain that is why the Government wants the IRS to know how much is in Everyone's accounts...

With the dollar devaluing, keeping cash is bad.

Soooo, I now have more confidence in:
A) Real Estate
B) Gold
C) Crypto
D) Commodities

If you have any intention of moving out of cash, I can lead you in the right direction regardless of what State you live in.

PM me for info.

More time is available to help you out.

VA extends deadline for COVID-19 home retention options - HousingWire The Department of Veterans Affairs is giving borrowers impacted by the pandemic an additional fifteen months to get loan payment relief.

This is quite helpful...

Freddie Mac rolls out direct deposit income verification - HousingWire Potential homebuyers seeking Freddie Mac-backed mortgages will no longer have to hunt for paper pay stubs to verify their income.