Los Prados: Historical Pricing

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  • 1. Los Prados Pricing Report, December 2012Contact: Philip GustersonTel: 702-752-6872Email: agent@lvre.com
  • 2. 298 Homes Sold on MLS since 2008 Steady downwards price trend$180 Los Prados There has been a$160$140 ($ per Sq Ft) clear downwards$120 R² = 0.4167 trend for four years.$100 $80 $60 $40 $20 $- 2/7/2008 2/7/2009 2/7/2010 2/7/2011 2/7/2012
  • 3. 88 Homes Sold on MLS in 2012 Signs of life in the real estate market$120 Los Prados The average price of$100 ($ per Sq Ft) homes sold in 2012 is $80 $70 per square foot, $60 R² = 0.2011 with an upwards trend $40 $20 $-
  • 4. How We Sell Your HomeMake sure you work with an expert Make sure the broker that sells your property is familiar with ALL the sales tactics discussed in this presentation. If you select a broker who does not make use of all these marketing strategies then your property will be on the market for longer than it needs to be, and sell for less than the maximum achievable price.
  • 5. Client Communication All news, good and bad, delivered efficientlyThroughout a sale wemaintain a high level ofcommunication with oursellers. They receive regularreports on the marketingactivity undertaken, andupdates on any changes inmarket conditions.
  • 6. Buyers Have Changed You need an agent familiar with today’s marketThe LVRE.com approach is driven bythe new realities of today’s real estatemarket: buyers are 18 times morelikely to find their home on theinternet than in a newspaper, and 36times more likely to find their homeon the internet than in a home bookor real estate magazine. Buyers havechanged, and we have responded tothis.
  • 7. Principles of an Efficient Sale There are three critical factors which drive usThere are three factors that we consider criticalto getting a property sold quickly at a highprice:1. Everything we do to sell your property is based on a clear understanding of what buyers want2. We are experts in leveraging online marketing to supplement traditional real estate sales tactics3. We communicate clearly and frequently with sellers throughout the process
  • 8. We Know How to Reach Your BuyerEffective online communication is the best way to reach buyers 9 out of 10 buyers use the internet in their home search, and amongst first time home buyers it is almost 100%. So you need an agent who knows how reach these buyers. This is even more important in Las Vegas than some other cities, since with more than 50% of Las Vegas properties being bought all cash there are many out of state buyers that use the internet as their only way to find a property. The first step buyers used to make when they were buying real estate was to call an agent, today almost all home searches start on the internet. Furthermore, the average distance people move has increased from 50 miles to 250 miles. What you need in the current environment is an agent who is familiar with how to use the internet to promote real estate.
  • 9. We Know What Your Buyer Wants We have researched what buyers want
  • 10. Meeting Buyer Needs We communicate clearly with buyersBuyers Want a Responsive Listing AgentPotential buyers don’t want to waste their time playing phone tag. Make sure the ads youragent places for your home are attached to a 24 hour prerecorded hotline with a specific ID#for your home which gives buyers access to detailed information about your property day ornight 7 days a week without having to talk to anyone. It’s been proven that 3 times as manybuyers call for information on your home under this system. If your agent does not this systemthen you lose potential buyers. You want to have as many buyers putting offers on yourproperty as possible.Buyers Want Useful Market ResearchThe best agents provide potential buyers with useful analysis of the market conditions. 74% ofbuyers consider regular updates on recent market activity to be valuable, but only 16% ofagents provide this information. Everything we do is driven by research, so rest assured thatwe provide buyers with all the data on Las Vegas home values that they need to make a bid onyour property.
  • 11. We don’t list your property, we SYNDICATE it You need an agent familiar with today’s market place The LVRE.com approach is driven by the new realities of today’s real estate market: we syndicate your property to all major online real estate platforms.
  • 12. Science of SyndicationRanking on each web site requires different tactics Syndicating to the major real estate web sites is critical, but it goes one layer deeper. Every one of these sites has special techniques to push listings to the top of the rankings. Some involve paying, but for others it is the way your content is presented. We know all of these techniques inside out.
  • 13. Video Never list a property without a video tourLess than 1% of properties sold have a video made to promote them. 50% ofAmericans watch a YouTube video during a typical month. We recognize theimportance of a good quality video and we create a unique video for everyproperty and syndicate it to all the major web sites.
  • 14. Social Media Social media is more than just a buzzwordA lot of people talk a good game, but dothey really understand the game? Everyreal estate agent knows that Facebookand Twitter are important, but mosthave no idea how to actually makethese tools work for them. Don’t use abroker that has jumped on the socialmedia bandwagon withoutunderstanding how to use it.
  • 15. Setting a Realistic Price We agree on the market value with the sellerSellers want to get the maximum achievable price, butsometimes greed drives them to list at above market value.This is counter-productive as it reduces the number ofpotential buyers that will visit the property, and is likely toincrease the time it is on the market.This bad situation then gets worse as potential buyers seehow long the home has been on the market and becomesuspicious. You need to make the most of the marketing liftthat comes with having a hot new property, and to do thatyou want to have it priced at market value. We will provideyou with a detailed analysis of Las Vegas home values tosupport the final pricing decision.
  • 16. How to Negotiate Working with the seller we secure the best terms from buyersNegotiate based on Seller Motivations. Different sellershave different motivations. Are you looking to sell quickly, orcan you afford to sit on the property until it secures thehighest achievable price? When you are work with us todetermine the list price, we will consider your motivations.Negotiate based on Buyer Motivations. If your buyer has to move quickly you canleverage this by pushing back on some of his demands. On the other hand if this is acash buyer with offers on multiple properties you have to negotiate in theunderstanding that the buyer is likely to be less flexible on deal terms. Making surewe know your buyer helps us control the pace of the negotiation process and itsoutcome.
  • 17. Seller Disclosures We advise clients to protect themselves by full disclosureDisclose all known defects in writing. There is no pointtrying to get something past a buyer because the futurelawsuit will be far more damaging than the extra dollarsgained at the sale.
  • 18. Prepare the Home for Sale A few minor touches can support the sales processYou don’t have to spend thousands on staging your home,you just have to put in the hours to ensure it is sparklingclean. As well as thoroughly scrubbing and polishing everysurface you should make sure everything is tidy anduncluttered. That can be difficult when you have livedsomewhere for a long time and accumulated a lot of things,but since you are moving anyway it is time to get as much aspossible boxed up and stored tidily in the garage.Some fresh flowers and some furnishing touches are fine, but the basic rule is tomake the home as uncluttered as possible. If you have pets, or are a smoker then youneed to do everything possible to kill all the odors in the house. When buyers comeacross a property that smells bad they investigate everything else with a far morecritical eye.
  • 19. The Open HouseThis is one of the tools we use to generate our pool of buyers Only 1% of homes sell from open houses, but rest assured that we will have one for your property because it is a great way for us to meet potential buyers even if they don’t want to buy your home. The person who buys your home is more likely to be someone we met at another open house than the one that we hold for your home, but the most important thing is that you know that we use this technique to meet potential buyers.
  • 20. High Levels of Communication The initial listing is just the first stepMost listing agents spend 80% of their time trying to secure new listings and 20%of their time working the listings that they have. We are the exact opposite, andprioritize servicing our clients. We want you to be a client for life. We are acompany that you would recommend to your friends and family withouthesitation.We don’t approach the sale of your propertyas a one-time transaction. 30% of people thatuse a real estate agent would not use themagain. Our goal is to ensure that 100% of ourclients use us again and again, and to do thatwe ensure that we have outstanding levels ofcommunication.
  • 21. Communication Tactics The initial listing is just the first step1. We use an electronic lockbox to track the showings of your property, and regularly update you on the level of activity2. We contact every agent that visits the property to find out what their clients thought, and feed it back into how we present the property. We send you a summary of this feedback3. Once we receive an offer we inform all the agents that have shown the property. This increases the chances of multiple bids on the property4. If there is a change in the listing conditions, such as the price, this is automatically sent to all the agents that showed your property
  • 22. Conclusion Three principles guide our approach to selling properties1. Everything we do to sell your property is based on a clear understanding of what buyers want2. We are experts in leveraging online marketing to supplement traditional real estate sales tactics3. We communicate clearly and frequently with sellers throughout the process
  • 23. Contact: Philip GustersonEmail: agent@lvre.comTel: +1-702-752-6872Web: www.lvre.comDisclaimer: This document is non-binding on all parties and contains a general descriptiononly. The information contained herein should be read in conjunction with more detailedinformation set forth in, or to be set forth in, future communications. Statistical informationdeemed reliable, but not guaranteed. Data pulled from GLVAR MLS.