Secrets From Top Realtors

Whether you’re looking to buy a second home in the mountains or planning to sell your primary residence in downtown Denver, you might be hesitant to enter the current real estate market. Don’t be.
Whether you’re looking to buy a second home in the mountains or planning to sell your primary residence in downtown Denver, you might be hesitant to enter the current real estate market. Don’t be.

It could take a bit longer to close the deal, but great homes are available and there are plenty of interested buyers. Colorado Homes & Lifestyles spoke with three top realtors—Matthew Hintermeister of Peaks Real Estate Sotheby’s International Realty and president of the Telluride Association of Realtors; Liz Leeds of Keller Williams Mountain Properties in Vail; and Mary Rae of Kentwood City Properties in Denver—to bring you their tips on how to get the deal done.

Sellers

Tip: Be realistic and set a fair price.
There are a lot of listings available, Leeds says, so do your homework and price your property accordingly. And revisit the asking price after 30 to 60 days if there haven’t been any significant nibbles. “You just have to work really hard on the transaction,” Leeds says.

Tip: Prioritize.
“It’s price or patience,” Hintermeister says. If you want to sell quickly, be willing to negotiate. If you’d rather get your asking price, be prepared to wait.

“It’s not unusual to have listings sit on the market for a year, 15 months,” Leeds says. Often, sellers are willing to handle the carrying costs if their patience could result in more profit down the line. 

Tip: Negotiate.
“Don’t turn anything away,” Rae says. “It may be a process to get everyone in agreement, but don’t bite off the hand of the person who’s trying to buy your house.”

Buyers

Tip: Be realistic and make a smart offer.
“There are great deals to be had,” especially in the off-season, Hintermeister says, but don’t expect big discounts in resort towns like Telluride and Vail.

“If you’re walking in as an intelligent buyer, you know how much you can afford and you know what you’re getting into,” then you’ll find yourself in a buyer’s market, Rae says.

Tip: Be flexible.
Inventory levels are working to the buyer’s advantage, Leeds says, but you might have to look at more properties than usual to find the location or amenities you want for the price you’re willing to pay. 

Keep your options open, Hintermeister adds. “Don’t say, ‘This house or nothing.’”

Tip: If you’re ready, buy now.
“Every time we have a slowdown, there are deals,” Hintermeister says. “If the buyer finds the perfect property for them, I would say move on it.”