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Selling in Today’s Market                Redfin’s Ballard Team                       March 13, 2012
Agenda for March 13, 2012•   What Redfin is all about•   How to sell your home•   Photos•   Curb appeal•   Staging•   Pric...
What Redfin Is All AboutOur MissionTo use technology and a customer service focus to make buyingand selling homes better f...
A Little Bit About Who We AreRedfin is a real estate brokerage that hashelped over 20,000 people buy or sell a home;97% wo...
How to Sell Your House• Perfect debut  • Staging: invest in the house, not fees  • Professional photos: optimized for onli...
Case-Shiller: Seattle Area v. 20-City   250.00               Case-Shiller: Seattle Area               Down 5.6% year-over-...
Seattle February Stats for Homes
Seattle February Stats for Homes
Ballard February Stats for Homes
Ballard February Stats for Homes
Where is the Market Headed?• Supply of homes is at a five-year low, but  signs are pointing to a slight increase in  inven...
Preparing to Sell
Perfect Pictures
Agent-Contract Audits
10003220
Price & List Strategies
Strategies for Sellers…Tips for Pricing Your Home  • Buyers today know value  • Effects of wrong pricing  • Price Blocking...
Tips to Making Your Curb Appealing• Clean up and fix your yard• Fix your mail box and add house numbers if  missing• Wash ...
Pricing: An Art & Science• Consider the current markets  • Housing markets  • Mortgage rates  • Economic and other factors...
Pricing Strategies    What if we under price?         What if we over price?•   Stand out from competition   • Loss of Int...
90% of Buyers Use the Internet to Search                    Internet                                                      ...
Your House as Seen by…You
Your House as Seen by…The Buyer
Your House as Seen by…The Lender
Your House as Seen by…The Appraiser
Your House as Seen by…The Tax Assessor
Negotiations and Tactics• Understanding current market conditions• Personal vs. business• Evaluate entire offer  •   Price...
Inspections and Contracts• Types of home inspections  • Home Inspection vs. General Inspection  • Opportunity to negotiate...
After Offer is Accepted…• Agent              • Mutual Acceptance• Alternate Agent    • Earnest money due• Team Coordinator...
How Commissions Work   Example: You buy a home for $500,000     Traditional Agents                            Commission  ...
Thanks For Coming Out Tonight!Please fill out the survey we’ll sendtomorrow along with the slide deck. We’dlove to get you...
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
Ballard home selling class 3.13
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Ballard home selling class 3.13

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Transcript of "Ballard home selling class 3.13"

  1. 1. Selling in Today’s Market Redfin’s Ballard Team March 13, 2012
  2. 2. Agenda for March 13, 2012• What Redfin is all about• How to sell your home• Photos• Curb appeal• Staging• Pricing• How people see your home• Negotiating• Inspections and contracts• Post Mutual
  3. 3. What Redfin Is All AboutOur MissionTo use technology and a customer service focus to make buyingand selling homes better for consumers.The Redfin Difference: service, not sales• Agents 100% focused on clients, not prospecting• Every client surveyed, every response published• Every agent paid on client satisfactionWhat That Means for You: a good sale, not any sale• Deepest local expertise: what’s selling, who’s buying• Accountable for results• Focused on your goals, not mine
  4. 4. A Little Bit About Who We AreRedfin is a real estate brokerage that hashelped over 20,000 people buy or sell a home;97% would refer us to a friend.• Customers, not commissions• Informed decisions• The right home for the right price No obligation Get back up to 50% of our commission
  5. 5. How to Sell Your House• Perfect debut • Staging: invest in the house, not fees • Professional photos: optimized for online • Pricing: a science, not an art• Marketing blitz • Website syndication • Open house, private tours, yard sign, flyers• Sustained effort • Tour follow-up • Real-time traffic dashboard
  6. 6. Case-Shiller: Seattle Area v. 20-City 250.00 Case-Shiller: Seattle Area Down 5.6% year-over-year Peak was July 2007 200.00 Down 32% from peak Currently at May 2004 prices 150.00 100.00 Case-Shiller: 20-City Composite Seattle Area Down 4.0% year-over-year 20-City Composite 50.00 Peak was July 2006 Down 34% from peak Currently at February 2003 prices 0.00Considering… Looking… Buying…
  7. 7. Seattle February Stats for Homes
  8. 8. Seattle February Stats for Homes
  9. 9. Ballard February Stats for Homes
  10. 10. Ballard February Stats for Homes
  11. 11. Where is the Market Headed?• Supply of homes is at a five-year low, but signs are pointing to a slight increase in inventory this spring• Foreclosure inventory has been driving price declines, but number of them are decreasing
  12. 12. Preparing to Sell
  13. 13. Perfect Pictures
  14. 14. Agent-Contract Audits
  15. 15. 10003220
  16. 16. Price & List Strategies
  17. 17. Strategies for Sellers…Tips for Pricing Your Home • Buyers today know value • Effects of wrong pricing • Price BlockingTips for Marketing • List on a Thursday or Friday • Be flexible on showings • Open Houses • Online Marketing & Photography • http://www.frontdoor.com/sell/10-tips-for-selling-a-home-in-the-fall/55828
  18. 18. Tips to Making Your Curb Appealing• Clean up and fix your yard• Fix your mail box and add house numbers if missing• Wash off your siding• Flowers in pots, weed, mow & edge lawn• If your house needs a quick refresher, paint the front door instead of the whole house!• Park your cars in the garage, not the driveway
  19. 19. Pricing: An Art & Science• Consider the current markets • Housing markets • Mortgage rates • Economic and other factors• Consider the price • Competitive environment • Comparable homes in your area • Active, under contract, sold (within 90-120 days) • Appraisal concerns
  20. 20. Pricing Strategies What if we under price? What if we over price?• Stand out from competition • Loss of Interested Buyers• More buyers = more offers… • Eliminates Offers = Lower Price• Lower carrying costs • Long days on market• Risk: one buyer • Need price-reduction plan • Hope: one buyer • Appraisal concerns
  21. 21. 90% of Buyers Use the Internet to Search Internet 76% 13% 10% Real estate agent 68% 19% 13% Yard sign 24% 35% 41% Open house 12% 34% 54% Newspaper ad 11% 29% 60% Home book or magazine 7% 18% 74% Home builder 6% 11% 82% Television 1% 6% 92% Relocation company 1% 2% 96% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Frequently Occasionally Rarely or not at allSource: 2009 NAR Profile of Home Buyers and Sellers
  22. 22. Your House as Seen by…You
  23. 23. Your House as Seen by…The Buyer
  24. 24. Your House as Seen by…The Lender
  25. 25. Your House as Seen by…The Appraiser
  26. 26. Your House as Seen by…The Tax Assessor
  27. 27. Negotiations and Tactics• Understanding current market conditions• Personal vs. business• Evaluate entire offer • Price • Settlement date • Inspections • Financing• To counter or not to counter
  28. 28. Inspections and Contracts• Types of home inspections • Home Inspection vs. General Inspection • Opportunity to negotiate repairs?• As-is terminology• Seller credits
  29. 29. After Offer is Accepted…• Agent • Mutual Acceptance• Alternate Agent • Earnest money due• Team Coordinator • Loan Application • Title Contingency • HOA Contingency (condos) • Inspection Contingency • Financing Contingency • Closing
  30. 30. How Commissions Work Example: You buy a home for $500,000 Traditional Agents Commission Seller’s Agent (3%) $15,000 Buyer’s Agent (3%) $15,000 Redfin Agents Commission Seller’s Agent (3%) $15,000 Redfin (50% of commission) $7,500 Redfin Buyer (50% of commission) $7,500 • Commissions are determined by the seller • Redfin refunds 50% of the buyer’s agent commission • Applied to closing costs • Refund is tax-free • Minimum Redfin fee: $6,000Considering… Looking… Buying…
  31. 31. Thanks For Coming Out Tonight!Please fill out the survey we’ll sendtomorrow along with the slide deck. We’dlove to get your feedback on how the classcould improve.If you’d like to get in touch with an agent,just chat with us now or contact us onRedfin.com.
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