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stjoe56

Help regarding selling a house

LJ
4 months ago

My wife and I have some general questions about selling our condo, et al.


We live in Denver right outside the city center in a very desirable area. Our condo was purchased a year ago and was new construction. I paid $899K for it, In the past year, Denver housing prices have increased 21%.


We are moving to a +55 apartment complex that is much closer to our daughter and grandchildren. Instead of a 10 mile drive on a busy road with a lot of traffic and stop lights, we will be 1.5 miles away with a quieter road, one stop light and only one turn.,


We are not going to list the unit until we have vacated it. We will repair nail holes, remove the fixtures we want to take, etc., first,


According to statistics, houses in Denver sell between five and ten days. The building is almost sold out and we have one of two units in the building with two bedrooms and a separate den. We have an ok to good view.


We have talked to two realtors: Redfin and a full service realtor. Both supplied us with their comps, etc.


Redfin recommended listing at $1,100,000. It would charge us 4.5% ($49,500). The full service realtor suggested $1,050,000 and with a 5.8% commission ($60,900). This is an $11,400 difference.


What criteria should I to choose between Redfin or the full service broker? Both have excellent reputation and I will admit, I could use the money more. And from my perspective, given the state of the market, I just don’t see what full service broker brings to the table. We have bought and sold numerous houses over the past 40 years and don’t need that much hand holding,


From what I have read about the economics of real estate, full service realtors tend to have a slightly lower price in order to sell quicker. That way they get paid quicker. IS THIS CORRECT?''


Both realtors recommended staging. I made some calls and staging would cost about $3000. Redfin said I had to pay for the staging and the full service realtor said she would pay for the staging. Given the state of the Denver market, is staging a good idea or even necessary?


The full service realtor also suggested I repaint the unit white. We have one bedroom in a pale blue, the great room (living and dining room), a pale yellow and a second bedroom a pale green. If I repaint the unit I will have to replace a lot of the electrical outlets as they are color coded for the walls. E.g., I have light green, light blue, and light yellow outlets.


When I talked to a staging company on the phone, he said a lot of realtors like white walls as they tend to hide some of the defects in older units. However as this was a basically new construction, he wanted to reserve judgement until he saw the unit.


Repainting the unit will not be cheap. I paid lose to $6K for the first painting. The full service realtor said she could find someone who would do it for around $3500.


BASED ON WHAT I HAVE TOLD YOU, DO YOU THINK REPAINTING THE UNIT WHITE AND REPLACING THE COLOR CODED OUTLETS is a REASONABLE EXPENDITURE?


Thanks for reading this. Any and all comments and suggestions are gratefully accepted.

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