Colorado Real Estate News

CEO Reflections

By Kentwood CEO and President Gretchen Rosenberg

Top 5 Reasons to work with a traditional broker versus an iBuyer

You may have heard a term that came on the real estate scene a few years ago, the iBuyer. You might even be considering using one to buy your home or looking at iBuyer listings without a Buyer Broker to represent you. Before you do, consider these top 5 reasons to stick with a traditional real estate agent.

iBuyer is a term coined to describe “internet” or “instant” real estate companies. They have a simple value proposition, make the transaction easier. That’s not a bad alternative for a certain percentage of the public and offers another resource to be carefully evaluated. However, iBuying is not a panacea for all real estate situations.

What You Need to Know

  1. Net Proceeds: As you evaluate, consider that convenience comes with a cost. These companies are not in a charitable business, they’re designed to make money. A traditional broker will help you prep your home for the highest return and act as an advisor on what consumers are looking for today. At Kentwood Real Estate, we have the Amplify program, which can even help you renovate and stage your home for sale and defer the cost until closing. If you sell your home to an iBuyer, your net proceeds will most certainly be less, and they’ll be marketing you ancillary services long into the future.
  2. Loss of Control: With a traditional agent acting as your advisor with a fiduciary duty to you, you can remain in the driver’s seat as you make decisions and progress through the transaction. Choosing a price, negotiating the inspection items, choosing a closing date. iBuyers will speed up the transaction and simplify many aspects, but they’ll give you a non-negotiable offer and then further deduct after they conduct their property inspection.
  3. Fees: A traditional broker’s fee covers extensive behind-the-scenes work, yet often consumers think our job is simply to put houses in the MLS and show property to buyers. Your agent should also advise you on home preparation for the highest return, best timing for hitting the market, how comparable homes are selling in terms of price and days on market, create a comprehensive marketing strategy, detail what a reasonable inspection list is, anticipate what issues might come up on title, potential easements and encroachments and how to discern who the best buyer is in terms of qualification. An iBuyer theoretically smooths out the transaction, taking on many of the steps an agent would be helping facilitate. They take much off the plate for sellers and they charge high fees for assuming that risk. iBuyer fees typically range between 7% and 14%, all in after inspection discounts.
  4. A Buyer’s Advantage: When you’re able to see everything in the Denver Metro, Boulder and Fort Collins MLS, you’ll be exposed to the entire market. With a Buyer’s Agent representing you, there’s more ability to negotiate the price, inspection items and confidently know you haven’t waded into any title or easement landmines. If you’re directly buying from an iBuyer company’s inventory, you don’t have an advocate helping you navigate the complex waters of a real estate transaction. They may have fixed up the house for sale, but how much time and quality were put into the work?
  5. We Hear Stories: Every week one of our brokers tells us a client had decided to use an iBuyer to purchase their home or made an offer on a property listed in an iBuyer inventory. Most of these stories end when the client decides to come back to their Kentwood Real Estate broker because they realized the fees were too high to make the convenience worth it. Even in the era of COVID. We’ve all found ways to show properties safely and keep our brokers and consumers healthy. Make sure your broker is following the COVID rules and protocols. Buyers have found that they aren’t exposed to the entire market when they’re searching on the iBuyer sites, and with such a lack of inventory these days, they want to be kept apprised of everything hitting the market in real-time.

The Final Takeaway

There is room for many models in the large market we call real estate. Some business models highlight price, speed and convenience while others focus on customer service and take their responsibility as fiduciaries to their clients seriously. Those relying on customer service and acting as fiduciaries also work hard to maximize net proceeds at the end of the transaction, making their fee a valuable investment. They also work hard to advise buyers when to negotiate and when they have to put their best foot forward.

You may like to shop at a discount store like Target and Walmart some days, while choosing Nordstrom or Nieman’s another. With housing or commercial real estate, consider your options carefully and feel free to reach out to a Kentwood Real Estate Broker for thoughts and advice. We’re here for our clients.

Colorado Real Estate News

Sarah Tyler | Featured Agent

Sarah Tyler

Sarah Tyler Headshots 2019

Hometown:

Pueblo, CO

What Is One Special Thing About the Place You Grew Up?

They have amazing Mexican food!

What Was Your First Job?

I worked at a baseball field concession stand.

Hobbies:

Hanging out with my husband and 2 kids, hiking, yoga, and anything outside.

Describe Yourself In 5 Words:

Honest, hard working, dedicated, personable, and family focused.

Favorite Colorado Past-time:

I love Hiking!

Favorite Place to Grab a Drink:

Human Bean Nutty Blizzard. I’m there enough that one of the baristas calls my version of this drink “The Sarah”. I must drink a lot of coffee!

One Unusual Thing About You:

I am sure I have many unusual things about me😊 but I cant pinpoint a fun one.

In What Ways Are You Involved in Your Community?

I am very involved with our local schools. I volunteer at them regularly, as well as sponsor and help organize school fundraising events.  I am also involved with WomensGive Larimer County, which is a program to help single mothers get a college education to help provide for their children.

Who Inspires You?

A lot of people inspire me, so it’s hard to pick just one. Anyone who keeps growing and innovating themselves is a great inspiration for me.

My husband is a huge inspiration and inspires me every day. He is hardworking but also family focused, and thoughtful.  He always asks the right questions to people about their lives and seeing what is going on that is important to them, even if he is super busy.  He always the kids and I first which allows me to go through busy times and not worry.

What Is Your Proudest Accomplishment and Why?

Having my children. I have always been very active, and career driven. So when I had my children, I loved seeing a different side of me open up and truly enjoy loving them in a way I hadn’t experienced before.

How Do You Define Success?

A work/life balance. When I feel the most successful is when I can have great family time while also helping my clients find their perfect home or sell their home to move on to their next adventure. The balance keeps me feeling happy and successful

What Career Path Would You Have Chosen If You Didn’t Become a Real Estate Broker?

I love real estate but also do have a past career/life that I still enjoy. I own a local salon and spa in Fort Collins (Orchidee Salon & Spa) and still enjoy seeing it thrive. I have amazing managers that run it for me so I can fully focus on my real estate career, but if I wasn’t in real estate, I would still have that as my focus and passion.

If You Could Master Any Skill That You Don’t Currently Have, What Would It Be and Why?

I just decided to learn tennis.  I have never played before and love the idea of taking on something fun yet hard to master. It’s been a long time since I have learned a new activity/sport and I am looking forward to having some fun.

What Is the Most Adventurous Thing You’ve Ever Done?

Starting my own business. From the conception to the big financial risk of taking the leap has been a huge adventure. Any business owner knows it’s a big leap and a great reward.

If You Could Have Dinner with Anyone, Who Would It Be and Why?

Anna Wintour. She quickly navigated to the top of the fashion and editing world and eventually changed the look and focus of Vogue. I would love to pick her brain about how she achieved her success and what life looks like outside of her career.

What Is Your Favorite Family Tradition?

I love Christmas. I love everything about it but especially family traditions from my past, as well as creating new ones with my family. We try to have a true “Colorado” Christmas by going up to a cabin or home in the mountains (usually Devils Thumb Ranch) so you get the snow and the family time without all the interruptions. Sometimes we do this before or after Christmas so we make sure to also see our extended family on the actual day, but this is our special time just me, my husband, and our kids. Christmas songs, cooking together as a family, decorating our tree (I am a huge fan of decorating the tree together and however the kiddos want it, so it may not be pretty but its fun!), and we have even done sleigh rides. Truly the full holiday experience!

What’s the Best Concert You’ve Ever Been To? What Made It So Special?

I love any outdoor concert, especially Red Rocks. I think you get such a great feeling when you are at Red Rocks hearing music and enjoying the beauty of Colorado at the same time.

If You Could Live in A Book, TV Show, Or Movie What Would It Be and Why?

Outlander is my favorite book series so I would have to choose that. They have now made a TV series out of it and I would be fine with that as well, but of course the book is always better! The story is based on a strong woman who pushes and breaks boundaries and stereotypes when she goes back in time. How could you not love going back to another time to experience life a different, more simple way. And I mean who doesn’t love Scotland!

Colorado Real Estate News

Tom Cryer | Featured Agent

Tom Cryer

Tom Cryer | Featured Agent

Hometown:

I was born and spent through 8th grade in Lutherville, Maryland. My first recollection of the telephone was we had a “party-line”. We had to drive past Maryvale School for Girls to get to mine, St. Paul’s School for Boys. Those were the days, school uniforms!

What Is One Special Thing About the Place You Grew Up?

Nothing but fields, woods, streams, and hideouts. Tom Sawyer and Huck Finn would have been jealous. In my eyes it was perfect.

What Was You First Job?

Raking leaves and mowing yards. But I would say having my own paper route was my first real job. I still wake up early. Scarred for life!

Hobbies:

Family, skiing, hiking, walking, cooking, and my Land Rover. “I’d rather push my Land Rover than ride in your Jeep.”

Describe Yourself In 5 Words:

Loyal, Pragmatic, Tenacious, Happy and an Open-Book

Favorite Colorado Past-time:

I love road trips; Colorado offers some of the best. Colorado’s history is important to me.

Favorite Place to Grab a Drink:

Ned Kelly’s Irish Pub in Littleton, Colorado.

One Unusual Thing About You:

I’m a 2%-er. 1%-er if you count the fact that I have blue eyes too. Being a redhead has set me apart in almost every room I enter.  Redheads never die, they just fade away…

In What Ways Are You Involved in Your Community?

I serve on the City of Centennial’s Election Commission. I’ve been President of my HOA for the last 10 years. I can highly recommend Centennial 101, South Metro’s Fire and Rescue Citizen’s Academy and the Arapahoe County Sheriff’s Citizens Academy. Knowing how your government and related services operate explains where your taxes go.

I also spend a fair amount of time with the Daniels School of Business DU.  Long story…

Who Inspires You?

My family and friends. I’m not much for putting celebrity or politico on pedestals.

What Is Your Proudest Accomplishment and Why?

Watching my wife write that last tuition check for the last of our children knowing we had accomplished our #1 goal. Provide a world class education for our 3 children. We sent our Children to Duke, Notre Dame, and DU. I think we succeeded!

How Do You Define Success?

Next to the “meaning of life” success is tough to define. In my own mind, I’ve achieved it. I live where I want to live, my children and now grandchildren are nearby. I have a lovely wife of 36 years. I have some great friends. I’ve traveled to a bunch of countries. I’ve been Heli-Skiing. I’ve driven over Black Bear Pass twice. I’ve climbed 15 or more 14ers. I’ve been to all but 3 states.  And, I have a sense of contentment when the market drops 500 points in a day, I don’t flinch. It’s a good life!

What Career Path Would You Have Chosen If You Didn’t Become a Real Estate Broker?

I have two material loves. I like houses and I like cars. I wasn’t going to be a car salesman. I probably would have been involved in construction. I’m happy with my choices.

If You Could Master Any Skill That You Don’t Currently Have, What Would It Be and Why?

I wish I was as brave as I was when I was younger and could still ski as hard as I did then. It would be great to ride a bicycle as fast as Dee.

What Is the Most Adventurous Thing You’ve Ever Done?

There have been so many. At the time, this was crazy! Two of my college buddies and I drove to California on our Spring Break. On the way back, we stopped off at the Havasu Indian Reservation and hiked to the bottom of the Grand Canyon and camped two nights at Havasu Falls. Google it. At that time and at that age, it was the epitome of paradise! Now I think it is some type of Eco-Tour.

If You Could Have Dinner with Anyone, Who Would It Be and Why?

Just one? Really? OK, let’s see. My father and brother, both passed now, would be top of my list. They meant so much to me. And, I know my mother would have loved to meet her great grandchildren, so I’d have to include her too!

What Is Your Favorite Family Tradition?

We’ll be living it next week. Everyone in the Fam for a few days around the holidays talking about it all. Games, food, and skiing. Nestled in a house in Vail. Like I said above, they inspire me.  My children made me a better person. Life is for the living!

What’s the Best Concert You’ve Ever Been To? What Made It So Special?

I would have to say Jethro Tull at Red Rocks 1971. I’m still not sure what happened, but helicopters, police, tear gas. Read about it – Denver History! There was no Rock-n-Roll for 5 years after this incident at Red Rocks, at the time, this was crazy punishment.

With all that said, I attended memorable concerts such as The Grateful Dead, Jefferson Airplane/Starship, Bob Dylan and the Band, Steven Stills, Crosby, Stills, Nash and Young, Bruce Springsteen, Joe Walsh, Pointer Sisters, Tina Turner, Michael Jackson, Garth Brooks and most recently, for some reason, I had never seen Tom Petty. The kids gave me the tickets for my birthday. Dee and I wound up on the 4th row and two months later, Tom Petty was dead. That truly was a “Heartbreaker”.

If You Could Live in A Book, TV Show, Or Movie What Would It Be and Why?

This is the easiest question of all. I would be John Galt in Atlas Shrugged. I love being the guy behind the scenes making it all look so easy! Who is John Galt?

Colorado Real Estate News

Dotson Skaggs | Featured Agent

Dotson Skaggs
Dotson Skaggs | Featured Agent

Hometown:

Denver, Colorado

What Is One Special Thing About the Place You Grew Up?

The fantastic weather: sunny days and four seasons.

What Was You First Job?

Driving a delivery truck throughout Denver for a printing shop downtown.

Hobbies:

Exercising

Describe Yourself In 5 Words:

Energetic, committed, goal-orientated, faithful, honest, loving.

Favorite Colorado Past-time:

Deer and elk watching! I do not shoot them even when it would be so easy. It is all an excuse to get out into the Colorado mountains and chase some big game around for fun.

Favorite Place to Grab a Drink:

Our daughter’s house with her husband and our two darling little granddaughters.

One Unusual Thing About You:

My name is most unusual and remembered by everyone. (Several funny, bizarre stories on that one.)  Therefore, I have to behave.

In What Ways Are You Involved in Your Community?

I sponsor numerous community activities for the neighborhoods where I live and work.

Who Inspires You?

The people who surround me and have one or more traits I wish to emulate.

What Is Your Proudest Accomplishment and Why?

Providing for the different needs of my family so they might grow, flourish, and be a productive member of this great nation.

How Do You Define Success?

Maximizing the use of the gifts I have been given while overcoming the challenges placed in my path plus my own limitations.

What Career Path Would You Have Chosen If You Didn’t Become a Real Estate Broker?

Oil and gas was my career choice out of college until I realized it was merely a stepping stone and learning tool for my discovered career passion: real estate.

If You Could Master Any Skill That You Don’t Currently Have, What Would It Be and Why?

To master the cruelest of all temptresses – Golf! Right now, I can have an awesome real estate career and a lousy golf game, OR I can have a lousy real estate career and a very mediocre golf game.  I get to choose!

What Is the Most Adventurous Thing You’ve Ever Done?

White-water rafting for five days from Moab, UT into Lake Powell with my Little Brother of the Big Brothers organization. The Colorado River was at full flood stage. Later we learned there were fatalities that week in other groups. Several times I was convinced we were going to lose members of our group with these little boys, rafts flipping over, large drops over rocks, rapids, etc.  We were on the edge of a bad disaster with no way out but to keep going forward.

If You Could Have Dinner with Anyone, Who Would It Be and Why?

Jesus Christ, the most positive influential person in history with answers to my questions.

What Is Your Favorite Family Tradition?

Like many others, it is getting together as an extended family for the holidays. The fond memories of seeing the nieces and nephews, watching them grow and mature, hearing the laughter and conversations as everyone catches up with each other, smelling the tempting aromas of delicious meals. These memories cannot be replaced and are treasured forever.

What’s the Best Concert You’ve Ever Been To? What Made It So Special?

The Moody Blues. I always wanted to see one of my favorite rock bands. I took my daughter who smelled pot for the first time. I had to explain that one on the fly. The other concert would be seeing Bob Hope on one of his last tours before he passed away. He will be remembered and missed for so many great things.

If You Could Live in A Book, TV Show, Or Movie What Would It Be and Why?

Ben Hur, 1959.  This movie encompasses the Roman Empire at its height, persecution of the Jews, beginning of the Christian faith, miracles, answers to some of the questions of life, etc. Much of western civilization started with ideas originating here.