I am so excited to announce that this stunning, contemporary home just hit the Aspen real estate market.
926 East Durant Avenue is a modern, light-filled home in the heart of downtown Aspen, Colorado. With breathtaking views of Aspen Mountain, Red Mountain, and the gondola, this 3-level town home is a listing that serious buyers must see.
Other features of this beautiful home include:
- A peaceful location on a cul-de-sac in downtown Aspen.
- 2 south-facing balconies plus a large patio with private hot tub.
- An abundance of natural light throughout the entire town home.
- Enormous master suite with fireplace, large walk-in closet, and a very large master bath.
- 3 additional bedrooms.
- A 2-car carport
I am confident saying that this is one of the best properties to hit the Aspen real estate market in Aspen, Colorado’s central core.
Scroll down to view handpicked images of this home…
The living room is contemporary, light-filled, and welcoming.
The open-concept kitchen boasts updated appliances and a lot of counter space.
This is a to-die-for master suite!
Two south-facing balconies promise an abundance of sunshine.
Clean and contemporary, this town home will take your breath away.
The hot tub on the patio is an added bonus after powder days in the winter and long hikes in the summer.
How about this enormous master bathroom?
For a seller, picking the right real estate agent in Aspen to list your property with is an important decision. The term “listing presentation” is thrown around a lot, and essentially, a listing presentation is twofold:
- Sellers are able to meet with and interview a number of hand-picked real estate agents before making their decision about who to work with;
- Real estate agents are able to learn more about the client, their needs, the property, and present their plan for how to market and sell the listing.
As you know, choosing a listing agent in Aspen is one of the most important parts of the real estate sales process. Sellers and agents need to trust each other and have open communication to ensure the clients needs are met in a quality and timely manner.
So, how does a seller properly vet a real estate agent to make sure that person is the right agent to move forward with? Great question! Throughout my career as a successful real estate agent in Aspen, I have cobbled together eight questions that sellers should ask during a real estate presentation.
8 Questions Sellers Should Ask During A Real Estate Listing Presentation:
1. “Why are you the right real estate agent to sell my home?”
After introductions, pleasantries, and a tour of the property that will be listed on the market, this is the perfect question to ask a real estate broker to begin a listing presentation. As a seller, you need to know if the Realtor you’re meeting with is qualified and meets your standards for representation.
You’ll know you’re sitting down with a worth Realtor if the agent communicates clearly and concisely, and answers your question articulately. The real estate agent should present certifications to you, such as accreditations earned through the National Association of Realtors. As a seller, you need to know that this agent is knowledgeable, educated, experienced, and dedicated.
Another thing to listen for when the agent is answering your first question is the agent’s sales history and track record. Take note of how many homes that agent has recently sold, what types of properties make up the agent’s inventory, average sales price, etc.
Numbers speak for themselves, and if you’re selling your luxury real estate, you need a real estate agent who is intimate with their numbers and stats. Listen for a thorough explanation of the agent’s big wins, successful closing, sales history, and track record.
Other things to note with this question:
- Does the person you’re meeting with work full-time as a real estate agent?
- What office or brokerage do they work for?
- Do they focus on buyers, sellers, or both?
2. “There are a lot of real estate agents in Aspen, how are you different from the other local agents?”
There’s an art to answering this question that will hint at how attentive and experienced a real estate agent truly is—traits that are required to be a good negotiator. You don’t want to hear the real estate agent say they’re “better” than the competition, and you don’t want the agent to jump into a comparison between them self and other local agents. Those answers will hint that the Realtor is either arrogant or consumed with the competition.
The best thing you can hear an agent say to this question is that they are passionate about real estate and that their only focus is on the best interest of their clients. To successfully sell your home, you need an agent who approaches every single day with enthusiasm, passion, and excitement.
Listen for things like:
- Why did this agent get involved in the real estate industry?
- How does this agent delight clients?
- How many repeat clients and word-of-mouth leads does this agent generate?
- What kind of relationships does this agent establish with clients?
- How knowledgeable of technology does this agent utilize to market and sell properties?
- Does the agent find fulfillment and enjoyment in helping people sell their home and find their dream home?
3. “Now that you’ve seen my home, what would you recommend changing so that it sells?”
If you take away one thing from asking this question during a real estate listing presentation it should be: How well does the Realtor answer a challenging question spontaneously?
Remember to note these things, too:
- Does the agent cite specific features of your home?
- Are they tuned into design, architecture, lifestyle, and history?
- Do they have a clear picture of the buyer they’re trying to resonate with?
- Are they selling the lifestyle?
- Can the real estate agent tactfully and respectfully discuss touchy and personal matters without coming across as insulting?
- Does staging the home come up? Does the real estate agent have a clear plan for staging the home to sell?
The best answer, one that illustrates you’re meeting with a thoughtful and conscientious Realtor, is if the agent acknowledges your question and asks for some time to come up with a thorough staging strategy. You want an in-depth analysis about how to present your home, but that can come via email after the presentation.
A large segment of my client base is comprised of real estate investors. So, I’m always tracking trends and diving into data that’s applicable to this portion of my business. I just came across a fantastic infographic that real estate investors need to know about.
As real estate buyer demographics change, the housing market is shifting. Understanding the changing landscape of the housing market is vital to the future success of real estate investors. These changes present unique and profitable opportunities to real estate investors who understand the evolution of the housing market and strategically adapt as things shift.
First, a little backstory…
For decades, Baby Boomers have been in the driver’s seat of the housing market. In 2014, Baby Boomers—which are defined as being at least 55 years old—accounted for 244% of household growth in the United States. At each stage of life, boomers have historically dictated the direction of the housing market and established trends in real estate. There was a spike in the entry-level market during the 1970s and 1980s when Baby Boomers were beginning their real estate investments. The 1990s and 2000s saw growth in the “move-up” market, and we will continue to see increases in luxury real estate (evidenced in the Aspen real estate market) for the next 20+ years. There is a direct correlation between this surge in luxury, high-end real estate and significant wealth and high homeownership rates of baby boomers.
Here is a graph that illustrates Baby Boomers’s impact on the real estate market dating back to the 1970s and predicted through the 2050s.
Now, what does this mean for real estate investors?
“Demographic shifts are causing significant change and new opportunities for real estate investors,” says HouseCanary CEO & Co-founder Jeremy Sicklick. (HouseCanary is a new, fantastic resource for real estate data! If you’re interested in housing forecasts and real estate statistics, be sure to check them out.)
So, what kind of opportunities are in front of real estate investors and real estate developers as the housing marketing shifts? There are two terrific opportunities for real estate investors:
- For-sale residential to the aging, Baby Boomer demographic.
- For-rent residential to serve the younger, Millennial generation.
Savvy real estate investors who strategically position their developments to serve each of these thriving demographics—Baby Boomer homeowners and Millennial renters—will see a great ROI. “Success,” according to HouseCanary’s data-driven report, “requires a segmented and focused approach that responds to these market shifts.”
Check out this compelling infographic by HouseCanary that illustrates how changing real estate buyer demographics are redefining the housing market and presenting exciting opportunities to real estate investors and real estate developers who understand how to evolve.
Summer in Aspen, Colorado can’t be beat! The weather is perfect, downtown is hopping, the patios are packed, the trails beckon hikers and mountain bikers, the rivers roar, and—my personal favorite—there are so many world-class cultural events on our community’s calendar.
The annual FOOD & WINE Classic in Aspen feels like the official kickoff to summer. Every June, foodies and connoisseurs flock to Aspen in search of delicious dishes, flowing wine, and al fresco parties. Next up on Aspen’s summer culture calendar is the Aspen Ideas Festival.
So, what’s the big idea at Aspen Ideas Festival 2015? Great question! Here are a few themes, motifs, and topics that will be examined, discussed, and presented at this year’s Ideas Fest…
Bringing together a diverse collection of the brightest minds in our world, Aspen Ideas Festival is a fete devoted to dialogue. From June 25 through July 4, Aspen’s mantra of “Mind, Body & Spirit” will be personified by the energy, individuals, and ideas that come together at the Ideas Fest campus.
“Due to the breadth of certain topics, five program tracks will offer conversations across both Festival 1 and Festival 2,” writes www.AspenIdeas.org. “Additionally, focused attention will be given to additional themes during each half of the Festival. Spotlight Health kicks off the week as a focused, two-and-a-half day forum.”
What are the big ideas that I am looking forward to at this year’s Ideas Festival? Here are 5 tracks that I cannot wait to be apart of at Aspen Ideas Festival 2015:
- EQUALITY, DIGNITY, AND THE PURSUIT OF HEALTHINESS asserts that reducing global inequality is the moral imperative of our time. How can we reach more people with health-generating strategies?
- THE GLOBAL MARKETPLACE examines how everything from politics to flows of people, services, technology, finances, and energy impact opportunities for American business at home and abroad. What kinds of smart ideas will foster economic prosperity?
- FAITH, CONFLICT, AND THE FUTURE OF RELIGION explores the issues and complexities that define cultures and conflict, domestically and across the globe.
- MAKING ARTS WORK examines solutions that arts and culture offer toward creating a society that is vibrant, yet harmonized, in its polyphony of voices. Leaders in the arts will demonstrate how the arts can meaningfully improve our world, giving us a life we want to live.
- THE ENDANGERED AMERICAN DREAM examines the widening gap between the haves and have-nots and explores the range of policies and practices to restore economic mobility.
These are just a handful of the tracks at this year’s Ideas Fest that I will be following. Are you in Aspen for the festival? Are you interested in learning more about Aspen real estate? I’d love to buy you a coffee or meet up for a chat on the Aspen Ideas campus to learn what you’re looking for in Aspen, answer any real estate questions, or discuss the current real estate in Aspen.
The FOOD & WINE Classic in Aspen is a local summertime institution. Aspenites, part time locals, and guests from all over the world flock to Aspen for a weekend full of culinary adventures, vintage tastings, warm weather, and al fresco parties. Signifying the official kickoff to summer in Aspen, the FOOD & WINE Classic is one my clients’ (and my own) favorite annual events in Aspen.
If you’re fortunate enough to be in Aspen for this weekend’s FOOD & WINE or if you’re living vicariously from a distance, the F&W schedule is a bit intimidating. With a jam-packed three-day calendar of lecture, tasting, breakout sessions, and panels that bookend the twice-a-day Grand Tastings, there’s a lot to experience during FOOD & WINE weekend in Aspen. So, I compiled a handful of must-attend events that will ensure you make the most of your time in Aspen during the FOOD & WINE Classic.
Here are 5 tips from an Aspen real estate agent to enjoy the FOOD & WINE Classic in Aspen. These are panels that you should consider fitting into your busy schedule this weekend.
- Spain’s Best Cheese & Wine (Friday at 3:45 PM)
Aspen local Laura Werlin is one of the world’s preeminent experts on cheese (is this the best job in the entire world?!). And, Megan Krigbaum is the FOOD & WINE Deputy Wine Editor. Together, this renowned duo “will guide you through the best of Spain’s cheese and wine.” Spain is one of my favorite countries in the entire world thanks to its culture, cuisine, wine, and panache. This will be a fantastic introduction to perfect pairings from Spain!
- Wine for IPO Billionaires (Saturday at 10 AM)
Can you picture a better way to start your day than sampling some of the most expensive, extravagant, hard-to-find, and opulent wines in the entire world? I didn’t think so. This panel hosted by wine expert Mark Oldman will pour mind-blowing wines for attendees. You will have the chance to “taste $42,000 worth of wine” before 11 AM! Oldman is one of the country’s leading wine personalities and an award-winning author, among other things.
- Gail & Hugh’s Top Chef Quickfire (Saturday at 2 PM)
Are you a fan of food shows on TV? If so, don’t miss this live quickfire challenge after Saturday’s first Grand Tasting. Gail Simmons is a permanent judge on Bravo’s Emmy- and James Beard Award–winning series Top Chef and head critic on Top Chef Duels. Hugh Acheson is the author of the James Beard Award–winning cookbook A New Turn in the South: Southern Flavors Reinvented for Your Kitchen and chef/owner of the Athens, Georgia, restaurants Five & Ten and The National, the Atlanta restaurant Empire State South and the Savannah restaurant The Florence. These two Top Chef judges will take on the Quickfire Challenge in Aspen as they go head-to-head in front of a live audience. The energy will be awesome, the sense of humor will be hilarious, and the food will be to-die-for!
- Sonoma Superstars (Saturday at 3:45 PM)
Like you, I am a lover of the grapes and wines that Northern California’s little town of Sonoma churn out. California’s “Wine Country” is one of my favorite places to visit for a weekend of tastings and vineyard visits. So, the opportunity to learn about great Sonoma wines with wine expert Andrea Robinson is something I highly recommend. Robinson is one of only 21 women in the world to have been appointed Master Sommelier by the prestigious Court of Master Sommeliers. Designated Best Sommelier in the United States by the Sommelier Society of America, Andrea Robinson is also a former dean of wine studies of the French Culinary Institute. I’ll be at this event with my notepad in-hand to take notes and learn!
- Sunday’s Final Grand Tasting (Sunday at 12:30 PM)
The fifth and final Grand Tasting at every FOOD & WINE Classic is often ignored by visitors. However, Aspen locals love this last Grand Tasting because of its atmosphere and feel. After three days of indulging, it’s easy to skip this one, but I’d suggest rallying and stepping into the F&W tent one last time. Vendors are relaxed and generous, the crowds have subsided, and you’ll have access to every booth in the Grand Tasting without jockeying. Trust me: A few weeks from now, you won’t regret having attended this last tasting.
There you have it, 5 tips from an Aspen local to enjoy the FOOD & WINE Classic in Aspen. A few other things to remember:
- Drink lots of water. The combination of altitude and imbibing can make for headaches, and you want to hit the ground running every morning of F&W.
- Don’t forget to explore the beautiful trails that encircle Aspen! A quick hike up the Ute, Smuggler, or Hunter Creek trails will open up breathtaking views of Aspen.
- Call ahead for dinner reservations at Aspen’s world-class restaurants. Town is busy, and you’ll want to make sure you have a table reserved for your after-hours event.
From the very beginning of my career as a real estate agent in Aspen, I committed to always looking out for the best interests of my clients. Without hesitation and without question, my absolute priority when representing buyers and sellers is to conduct transactions, negotiations, and communications on behalf of clients with their best interests in mind.
Unfortunately, some homebuyers and home sellers have had interactions and experiences with real estate agents who have done things that made the clients question motive or agenda. I’ve heard stories that have taught me valuable lessons about how to solidify a relationship between real estate agent and buyer or seller that lasts far beyond the closing of a property or sale.
Here are three things I avoid as an Aspen realtor because these will turn off buyers:
1. I will show you a comprehensive look at the entire real estate market, not just my inventory of listings. While I highlight my listings online, you’ll see that the IDX feed on my website allows potential homebuyers to look at every single Aspen real estate listing on the market. Often, I’ve had new clients come to me because—as they say frequently—their previous Aspen realtors, “only showed me their listings!”
Because my clients’ best interest is my total focus, I am always willing to introduce my buyers to all listings. Granted, there are usually one or two listings that I have that fit a buyer’s needs and wants. But, my clients chose me because I represent them as buyers, not because I also work as a listing agent.
Real estate agents must always remember who they are representing when working with a buyer. This focus needs to dictate decisions. Clients and agents will never create a realtionship that lasts beyond the sale if the agent looks out for themself more than the buyer.
2. My professional expertise and local knowledge are always available for my clients. “He/she didn’t share any local knowledge with us,” is a comment I’ve heard before about real estate agents. When buyers work with me to we have many discussions about what they were looking for and what was important to them in their specific home purchase. From good schools to ski-in/ski-out to downtown core to privacy, every buyer has a number of things that are high on their list.
I will always provide links to websites, informative blog posts, and valuable resources to my clients that help paint Aspen real estate clearly. Of course buyers make their own decisions, but it’s my job to offer all information and knowledge I have at my disposal to empower them to make a good decision.
3. “The last agent we considered working with only took us to that we found,” said a client of mine while we were discussing working together. I was aghast. The truth is, compared to buyers a decade ago, every current homebuyer that I work with is exponentially more informed about listings, the market, supposed estimates and values, etc. The internet has empowered buyers to be more educated and conduct their own research.
But, the idea that a real estate agent would not bring their professional insights and more listings to consider to the table for their client blows my mind. That an agent would not show a client any listings other than the ones the client found themselves is asinine.
I believe wholeheartedly that a good real estate agent will help their clients find the perfect home that meets their criteria by any means necessary!
Everything I do revolves around showing my buyers and clients that I work for them. This is how I earn their business, and‚ more importantly—this is how I establish lasting relationships with clients that continue long after a closing, transaction, and sale.
Luxury real estate in Aspen boils down to a simple fact: buyers are purchasing a lifestyle, and they’re buying a dream. Selling the Aspen dream is one of my specialties and I execute these staging strategies for every listing in my inventory.
As soon as I win a new listing in Aspen, the real work starts. My focus immediately jumps to how I can creatively sell the dream for every new listing. I really enjoy the conversations I have with clients about creative ways to communicate the lifestyle of the listings and tactics that will bring offers to the table.
The topic of staging always comes up during this stage of the real estate sales process. Staging a home to sell is critical to success, especially in luxury real estate markets like Aspen. I’ve learned firsthand that strategically staging a property for targeted buyers will be the difference between selling a listing and watching DOM (“days on market”) climb.
This is often a difficult conversation with clients because they have spent years, sometime generations, decorating their home, customizing their setting, and personalizing their lifestyle. And, no one likes to undo years of memories or hard work. However, buyers want and need a blank canvas in a property so they can paint their own memories.
After years of successfully selling luxury real estate from Beverly Hills to Aspen, I have compiled a few vital tips to staging high-end real estate.
Here is how you can stage a home to sell in Aspen, Colorado…
1. Be Honest
Honesty and being blunt are really important traits of every successful real estate agent. And, I take pride in always being upfront with my clients—even during the staging process. I understand that you love the antique skis above the fireplace or the china doll set in the dining room. But, if you want your listing to close quickly, I have to be upfront with feedback and pack up pieces that take away from the property.
You associate cherished memories with those antiques, but buyers will be distracted by them. Smart real estate agents and savvy sellers know that the right offers will come if the property allows for a buyer to envision their future, not documenting the seller’s past.
This feedback might be difficult to swallow for sellers, which I totally understand. But my history of selling homes speaks for itself and shows that I know what I’m talking about.
2. Think Out Of The “Box”
Selling a home for top dollar and in a timely manner requires effort, work, and attention. Too many times, though, everything in staging focuses on art, rugs, decor. Granted, the inside of a home is really important to selling a home. But, I’ve learned the outside of a property must get staging energy, too!
Beginning the staging process outside has proved to be a major ingredient in my successful staging recipe. Why? First impressions matter, of course. Plus, in stunning locations like Aspen, the outdoors are a huge draw for qualified buyers. Focusing on panoramic views, quaking leaves on aspen trees, dense groves of pine trees, meandering wildlife, and outdoor living spaces like patios, pizza ovens, pools, and fireplaces make for a successful real estate selling strategy.
The truth is: you might have a gorgeous kitchen or a sprawling master suite, but we need to “Wow!” buyers before they ever step foot in the property, and that is accomplished by staging the outdoor spaces.
3. Find Inspiration At Open Houses
I enjoy touring open houses of other listings with clients to find inspiration. One of the most valuable ways to show a home seller what their home needs is by walking through other listings and comps and discussing staging tactics.
Seeing how other homes are staged helps the creative juices to start flowing and it tangibly illustrates what we’re doing well and what staging changes need to be made on our own listing.
Seeing how your home compares to others in the market gives us—my clients and I—a good benchmark about staging. Aspen real estate is a competitive market and we need to deliver a world-class product to buyers in order to get offers.
4. Spend To Win
Last, but definitely not least, allocating a budget to staging luxury real estate is something that a lot of sellers ignore. That makes sense because spending money on a home that you’re about to leave is counter intuitive to most. But, the old adage is true, you have to spend money to make money.
If serious offers are the goal, we need to carve out a budget to sell the buyers’ dream! A small investment on staging will pay out huge when that full-ask offer comes over the table, or a bidding war ensues between buyers because multiple families can envision their Aspen dream in the property you’re selling.
Throughout my career as a real estate agent in Aspen, I’ve seen a lot of interesting scenarios play out. One lesson that I always pass along to my clients is that the highest real estate offer is not always accepted by sellers. A lot of clients are surprised by this, but it’s true—there are many factors that play pivotal roles in a seller choosing an offer.
The takeaway is empowering for buyers. It’s important to remember that as a buyer, you have control in the real estate purchasing process. While coming to the table with a respectable offer is important, you’ll be shocked by how many times sellers don’t go with the biggest number.
Here are four ways to increase the odds of having your offer accepted, even though you don’t have the highest offer.
- Get Personal.
Buying a home is a big deal, it’s a personal transaction, and sellers love picturing who will plant roots and make a life in the house that they created so many last memories in. A thoughtful, sincere, and personal letter written to the seller paints a three-dimensional picture of you. This letter makes you more than just an offer, and it’s amazing how often this results in a closing—even if the letter writer’s offer isn’t the highest option for the seller.As a listing agent, one of my sellers once had three offers presented. Two buyers strictly made an offer, while the third buyer—whose offer was a bit less than the other two—wrote a heartfelt letter praising the home, illustrating why it was a perfect fit for his family, and talking about the future his family pictured in the home. My seller was actually turned off by the buyers who did not take time to craft a letter and went with the buyer who felt familiar. That short, hand-written, personal letter made the difference between getting the home and not.
- Come with cash.
The odds of you getting the home of your dreams increase drastically if you come to the table with an all-cash offer. The Aspen real estate market is competitive, buyers are clammoring for homes, and sellers love cash offers. I’ve found that bringing cash to a negotiation—even if the all-cash offer is less than what other buyer’s are offering—results in a great response from Aspen sellers.Why? If you can pay in cash lenders and mortgages are ommited, escrow closes quickly, and appraisals don’t bog down the process.
- Craft a seller-friendly contract.
If it’s your dream home and you are up against high offers, customizing common contingencies that give sellers headaches will ensure your lower-priced offer gets the attention of the seller.Contingencies like financing, appraisal, and inspection protect buyers, but they also make offers look weaker. Every contingency in a contract makes the deal more difficult to close, so pick wisely about the language you use in contingencies.
- Be flexible.
For the most part, closings take anywhere from 30 to 90 days. Expediting a closing to suit a seller will help your lower offer get accepted. For the most part, sellers always want a quick closing (around 30 days). If you’re organized and Customizing the length of the closing to suit the seller’s needs can often help seal the deal over a higher offer. Sellers almost always want fast closings, usually 30 days. If you have all your ducks in a row, you may be able to do this.The best approach I’ve found throughout my career is having buyers be prepared for a quick closing and asking the seller what they prefer. Questions like “What do timeframe do you need?” and “Would you like this to happen quickly?” are tactics that show sellers you’re willing to do whatever it takes to close.
It has been a busy month for Aspen4Sale. We are humbled to announce a handful of recent real estate transactions. These four real estate closings in Aspen are perfect examples of instances when I listended to my clients’ needs and worked tirelessly to make their wishlist a reality.
My top priority when working for a client is to listen. A client’s wants and needs are my absolute focus—whether I am representing a buyer or a seller. I work to make sure my clients’ best interests are at the heart of every Aspen4Sale deal.
Here are four recent transactions I am pleased to announce…
In the last month, we have closed on four fantastic properties. Representing two buyers and two sellers in these transactions, I am excited and humbled to announce a handful of recent success stories in the Aspen real estate market.
Working as the buyer’s agent, we just closed on two breathtaking Aspen properties. In one instance, my client came to me with a clearly defined wishlist. The buyer wanted an investment property. He was looking for a home at Aspen Highlands that allowed their growing family to live the Aspen lifestyle. Despite a slim pickings and a small inventory to choose from, I found exactly what this client was looking for in 105 Thunderbowl, and we closed in early April.
Another recent real estate transaction in Aspen that Aspen4Sale represented the buyer was for 930 West Francis. My client specifically wanted an investment property in the heart of Aspen, Colorado. In addition, this client wanted value in the home and was looking for that hard-to-find combindation of bang for your buck plus great central location. 930 West Francis met both criteria and we’re pleased to announce that property has officially closed.
I represented sellers in two recent closings as a the listing agent, too. On behalf of the seller, I just closed on 747 South Galena. The sellers listed their stunning home in the heart of downtown Aspen with Aspen4Sale because they were looking to move up into a larger home. In a short amount of time, Aspen4Sale succesfully brought a fantastic offer to the table and the listing closed early in April.
Located on a quiet cul-de-sac only 2 blocks from the Aspen Mountain gondola, this contemporary 3-story townhome was another quick transaction for Aspen4Sale. I represented the seller of 926 East Durant and worked hard to communicate and articulate the terrific location, beautiful views, and elegance of this listing for my client. Again, it took a very short amount of time to find the perfect buyer and close on this amazing property in Aspen for my client.
The real estate industry has a language and vocabulary all its own. Two terms that are important to understand relate to two different types of real estate brokerage relationships. You’ll often hear “buyer’s agent” and “seller’s agent” thrown around, but what do they both really mean?
Here are clear definitions for both. You will need to work with a real estate agent to find and purchase or list and sell your next property. Remember: Patricia Marquis at Aspen4Sale is a results-driven real estate agent in Aspen who specializes as a buyer’s agent and a seller’s agent!
What is a Seller’s Agent?
There are two terms you’ll hear in a real estate transaction and both mean the same thing. A Seller’s Agent or Listing Agent is the broker who represents the seller in a real estate transaction. With specific fiduciary and confidentiality commitments to the seller of a property, a Seller’s Agent works on behalf of the seller’s interests with loyalty and fidelty.
A few roles that constitute a seller agent’s duty include negotiating on behalf of the seller and acting as an advocate of the seller. By law, the seller’s agent or listing agent must disclose known material facts about the seller’s property to to potential buyers.
What is a Buyer’s Agent?
A Buyer’s Agent is the broker in a real estate transaction who represents the buyer. The buyer’s agent owes confidentiality and fiduciary obligations to the buyer. Most often times, however, the seller is responsible for paying the Buyer’s Agent.
A buyer’s agent works on behalf of the buyer, negotiates representing the buyer, and acts as an advocate for the buyer. Just as a listing agent must disclose certain known material facts, the buyer’s agent must disclose certain things to potential sellers. Examples of things a buyer’s agent must disclose to a potential seller include the buyer’s ability to perform the financial terms of the transaction and—in residential transactions—if the buyer intends to occupy the property.