VIP PARK CITY NEWSLETTER
25 Frequently Asked Questions by Homeowners Ready to Sell
1. What is the true market value of my home?
The market value is what a willing and able buyer will pay not necessarily what an appraiser
justifies.
● Appraisals use historical data and are typically used for lending purposes. They focus on past sales within close proximity.
● CMAs (Comparative Market Analyses) consider active listings, pending sales, expired
listings, and wider geographic comps (especially in the luxury market).
● We’ll also factor in tax assessments, construction costs, and reproduction costs to form
a clear picture of value.
2. What will I net from the sale?
Net proceeds depend on several factors:
● Mortgage payoff balance
● Real estate commissions
● Repair or credit negotiations (Tip: Get a pre-listing inspection and fix key issues upfront!)
● Any debts or leases on the property get paid off at closing ( Solar Panels, Security Systems, ect...)
● Potential buyer closing cost requests
We’ll provide you with a Seller Net Sheet from the title company so you can estimate your bottom line before listing.
Want to know how much you’d walk away with if you sold?
3. How long will it take to sell?
Eight factors influence your timeline:
1. Price
2. Location
3. Amenities
4. Condition (style, age, maintenance)
5. Features (bed, bath, lot size, square footage)
6. Financing environment
7. Market trends & inventory
8. Marketing (the only thing an agent can control.) We’ll also examine the absorption rate for your area/subdivision to gauge expected time on market.
*PRICE is the solution to all 8 of these factors. Can't afford to update, Home is Located in a tier B location? Weird floorplan, lots of stairs, near the road, lots of inventory in your area, high intrest rates, needs some TLC? Then Lower the price.
4. Will my property sell?
Refer back to the eight key factors above. We calculate the absorption rate by dividing sold
homes by the total number of active, pending, and sold properties.
5. How will my property be marketed?
Your home will be presented through:
● Digital listings Syndication (MLS, over 300+ idx websites and property feeds across the internet, Christie’s, Realtor.com, zillow, redfin, homes.com etc.)
● Print ads & luxury publications ( For Properties $3Million and Up)
● For homes $1Million Dollars and Up, Syndication to Wall Street Journal, Barrons, Country Life, Financial Time, Mansion Global, Market Watch, PropGOLuxury, James Edition
● Postcards, Flyers
● Invidual Property Websites, & Property Brochures
● Social media & YouTube video tours
● Email marketing to buyers & agents
● Global , National and Local broker e-blasts
● Optional open houses
( Please See Section 9. of the Exclusive Right to Sell )
We could go down a whole rabbit hole on marketing. If it's something that's important to you.
Click on these additional Links
You have 3 Luxury Brands Backing the Sale of Your Home
GLOBAL , NATIONAL, AND LOCAL
| |VUE CHRISTIES INTERNATIONAL REAL ESTATE - PARK CITY | CHRISTIE'S INTERNATIONAL REAL ESTATE | NICOLE IN PARK CITY
6. Will there be open houses?
Yes , if you want them. Open houses are optional but create exposure and convenience. Your call.
7. How should I prepare for showings?
● Review the Staging Guide
● Declutter & depersonalize
● Address minor repairs or deferred maintenance
● Stage key rooms
● Consider basic cosmetic updates if needed
8. When will photography happen?
Photography and videography are arranged after signing the listing agreement and staging.
Refer to Section 9 of the Exclusive Right to Sell Agreement for details.
9. Where will the for sale sign go?
Typically in the front yard. In some Park City communities, signage isn’t allowed we’ll follow
HOA rules accordingly.
10. Where will the key box be placed?
Usually at or near the front door. This can be adjusted for privacy or security concerns.
11. How will showings work?
You control the schedule. You decide:
● Required notice (24 hrs, etc.)
● Times/days preferred
● If I or another agent will be present
● If a lockbox is okay
● Rules for shoes, pets, or access
12. When will the property go live on the MLS?
Once the listing agreement is signed, we must list within 5 business days. If more time is needed, we can sign a CERTIFICATION OF EXEMPT PROPERTY LISTING FOR Park CITY MLS & Seller Notice to Classify Listing as “Limited Marketing”for WFMLS
For Both MLS Park City MLS ( PCMLS) and Wasatch Front MLS (WFMLS)
I am apart of 2 MLS's so input forms need to filled out and signed by you the seller for both MLS's.
13. What is buyer agent compensation?
As of 2024, seller-paid buyer agent commissions are optional and fully negotiable. Any compensation offered to a buyer’s agent will be discussed with you in advance and can also be adjusted during the negotiation of the offer. While you're not required to offer compensation upfront, doing so is strongly encouraged if your goal is to attract qualified buyers, minimize time on market, and avoid unnecessary complications. A skilled buyer’s agent can make or break a deal and the best ones are motivated to show properties that offer fair compensation.
💡 Think of it as an investment in speed, ease, and stronger offers not just a line item.
Please refer to Section 2.1 of the Exclusive Right to Sell Agreement for full details. & Section 4.3 ( e) of the Real Estate Purchase Contract
Understanding Buyer Agent Fee's Further
You are no longer required to provide a pre-determined compensation for a buyer’s agent. In fact, there is no longer a
field on the MLS to show what that compensation could be and there are now very strict rules around how any such fee may be communicated to a buyer’s agent.
Even if you pre-set a fee or choose not to provide any concession, a buyer has the right to include a request for
compensation in their offer regardless of what you might or might not be offering.
When you receive an offer, it is 99.9% possible it will contain a request for some form of concession to a buyer from which they can compensate their agent. Since we do not know in advance what that might be, once an offer arrives you will have the opportunity to negotiate any and all of the terms of the offer(s) in a counteroffer to the buyer. Once we have an offer(s), based on what they may or may not be requesting, we will discuss your options and then respond accordingly.
14. Will my funds be secure?
Yes. All terms, including wiring instructions and fund disbursement, are protected and
documented. Please see section 16. of the exclusive right to sell.
15. What stays with the home?
Refer to Sections 1.1 – 1.3 of the REPC:
● Appliances, window treatments, attached items stay. Think of it like this: flip the house upside down. Whatever hits the floor is yours. Whatever’s still bolted, mounted, or built-in? That stays with the property.
● Washers/dryers, fridges, etc., may stay if negotiated
● Any excluded items must be listed in writing
16. What happens to water shares?
Any water shares connected to the property’s irrigation or culinary use will transfer unless
specifically excluded (Section 1.4 of REPC).
17. Do I have to pay HOA assessments?
Special assessments and transfer fees may apply. Responsibility is negotiable and outlined in
Section 4 of the purchase contract.
18. Who pays which costs?
Buyers and sellers each cover different closing costs. We’ll go over a detailed breakdown and
also refer to the Real purchase contract (Section 4).
19. What should I disclose?
Anything that materially affects the property. You’ll complete a Seller Property Condition
Disclosure form. Take your time and be thorough it’s the most important document you’ll sign.
20. How do I keep excluded items?
List them in Section 1.3 of the Real Estate Purchase Contract aka The REPC
21. Am I obligated to sell at appraised value?
No. But if the home doesn’t appraise and the buyer doesn’t have the cash to cover the difference, they can cancel.
22. What if we get multiple offers?
We’ll discuss your options:
● Accept or counter one offer
● Send multiple counteroffers
● Invite all buyers to submit best and final offers. Each approach has pros and cons. I’ll help you choose the best strategy.
23. When should I start packing?
Once the buyer removes their contingencies. Possession is outlined in Section 3.3 of the REPC.
24. Should I offer a home warranty?
Optional, but recommended. Old Republic Home Warranty offers free seller coverage while listed.
You can also include a buyer warranty in your offer. Section 10.1 of the Real Estate Purchase Contract
25. When should I make an offer on a new home?
It depends. If you need the proceeds from your current sale to purchase the next property, we’ll coordinate timing carefully. Let’s map out a strategy that fits your situation.
FORMS MENTIONED ABOVE
WHY CHRISTIE'S
Christie’s International Real Estate is widely recognized as the world’s leading luxury real estate brand and network. We have affiliates in key markets all over the world, giving your home more international visibility. Our outstanding luxury marketing programs make your home stand out. We showcase your property to global buyers, maximizing its selling potential and fetching the highest price. Your home will receive maximum visibility on prestigious platforms such as Christie’s International Real Estate’s website, as well as renowned sites like the Wall Street Journal, Mansion Global, and MarketWatch (exclusive to luxury properties). Our technology streamlines every aspect of the transaction so you have a more seamless experience. Through our direct connection with Christie’s auction house, I can facilitate the sale of your art and luxury items. Our partnership with Christie’s unlocks exceptional opportunities at auctions and special events, amplifying the exposure of your property.