Home Selling Class                 April 11, 2012Slide 1 of 43
Agenda for April 11, 2012    •   What Redfin is all about    •   How to sell your home    •   Photos    •   Curb appeal   ...
Case-Shiller: Los Angeles v. 20-City   300.00            Case-Shiller: Los Angeles Area            Down 5.2% year-over-yea...
Irvine February Stats for HomesSlide 4 of 43
Irvine February Stats for HomesSlide 5 of 43
Where is the Market Headed? ● Supply of homes is at a five-year low, but signs are pointing to   a slight increase in inve...
What Redfin Is All About ● Our Mission ● To use technology and a customer service focus to make buying and   selling homes...
A Little Bit About Who We Are ● Redfin is a real estate brokerage that has helped over 20,000   people buy or sell a home;...
How to Sell Your House ● Perfect debut    ► Staging: invest in the house, not fees    ► Professional photos: optimized for...
Listing with Redfin ● More people See your Home    ► Premium placement on Redfin.com    ► Mobile apps target on-the-go buy...
Best Price and Lower Fees                 • Agent’s are paid on satisfaction                    • Honest Agents           ...
Save Without ComparisonSlide 12 of 43
Preparing to SellSlide 13 of 43
Getting ready to hit the market… ● First Impressions    ► De-Clutter    ► De-Personalize    ► Clean, Paint, Fix & Deodoriz...
Perfect PicturesSlide 15 of 43
Agent-Contract AuditsSlide 16 of 43
10003220Slide 17 of 43
Slide 18 of 43
Slide 19 of 43
Slide 20 of 43
Slide 21 of 43
Price & List StrategiesSlide 22 of 43
Strategies for Sellers… ● Tips for Pricing Your Home    ► Buyers today know value    ► Effects of wrong pricing    ► Price...
Tips to Making Your Curb Appealing ● Clean up and fix your yard ● Fix your mail box and add house numbers if missing ● Was...
Tips to Staging Your House ●   Declutter ●   Get rid of ALL smells ●   Get the dust and film off of everything ●   Make su...
Pricing: An Art & Science ● Consider the current markets    ► Housing markets    ► Mortgage rates    ► Economic and other ...
Pricing Strategies   What if we over price?             What if we under price?   ● Loss of Interested Buyers        ● Sta...
90% of Buyers Use the Internet   to Search                      Internet                                                 7...
90% of Buyers Search Online                 4,788,014 visits in Southern California area for January 2012                 ...
Your House as Seen by… YouSlide 30 of 43
Your House as Seen by… The BuyerSlide 31 of 43
Your House as Seen by… The LenderSlide 32 of 43
Your House as Seen by… The AppraiserSlide 33 of 43
Your House as Seen by… The Tax AssessorSlide 34 of 43
Negotiations and Tactics ● Understanding current market conditions ● Personal vs. business ● Evaluate entire offer    ► Pr...
Inspections and Contracts ● Types of home inspections    ► Home Inspection vs. General Inspection    ► Opportunity to nego...
After Offer is Accepted…   ●   Agent               ● Loan Application   ●   Alternate Agent     ● Title Contingency       ...
Thanks For Coming Out Tonight!   Please fill out the survey. We’d love to get your   feedback on how the class could impro...
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Home Selling Class - Orange County - April 11, 2012

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Home Selling Class - Orange County - April 11, 2012

  1. 1. Home Selling Class April 11, 2012Slide 1 of 43
  2. 2. Agenda for April 11, 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 MutualSlide 2 of 43
  3. 3. Case-Shiller: Los Angeles v. 20-City 300.00 Case-Shiller: Los Angeles Area Down 5.2% year-over-year 250.00 Peak was September 2006 Down 40.8% from peak Currently at August 2003 prices 200.00 150.00 100.00 Case-Shiller: 20-City Composite Down 4.0% year-over-year 50.00 Peak was July 2006 Down 33.8% from peak Currently at February 2003 prices 0.00Considering… Looking… Buying…
  4. 4. Irvine February Stats for HomesSlide 4 of 43
  5. 5. Irvine February Stats for HomesSlide 5 of 43
  6. 6. 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 decreasingSlide 6 of 43
  7. 7. What Redfin Is All About ● Our Mission ● To use technology and a customer service focus to make buying and 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 satisfaction ● What 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 mineSlide 7 of 43
  8. 8. A Little Bit About Who We Are ● Redfin is a real estate brokerage that has helped 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 ● Save 1.5% of your commissionSlide 8 of 43
  9. 9. 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 dashboardSlide 9 of 43
  10. 10. Listing with Redfin ● More people See your Home ► Premium placement on Redfin.com ► Mobile apps target on-the-go buyers ► Promote home in targeted ► Professional Flyers ● You’ll Know It All at Every Step ► Email all buyers who see your home ► See how many people have viewed your home ► Advise you at every step in the processSlide 10 of 43
  11. 11. Best Price and Lower Fees • Agent’s are paid on satisfaction • Honest Agents • No pressure advice • Time spent serving YOU! • Lower Fees • 1.5% Fee vs. Traditional 2.5%Slide 11 of 43
  12. 12. Save Without ComparisonSlide 12 of 43
  13. 13. Preparing to SellSlide 13 of 43
  14. 14. Getting ready to hit the market… ● First Impressions ► De-Clutter ► De-Personalize ► Clean, Paint, Fix & Deodorize ► Small Updates (DIY Projects) ● Skeletons in the Closet ► Disclose, Disclose, Disclose ► Consider a Pre-Inspection ● History of the Home ► Gather paperwork (oil tanks, permits, receipts) ● Professional Help ► Landscaping ► StagingSlide 14 of 43
  15. 15. Perfect PicturesSlide 15 of 43
  16. 16. Agent-Contract AuditsSlide 16 of 43
  17. 17. 10003220Slide 17 of 43
  18. 18. Slide 18 of 43
  19. 19. Slide 19 of 43
  20. 20. Slide 20 of 43
  21. 21. Slide 21 of 43
  22. 22. Price & List StrategiesSlide 22 of 43
  23. 23. Strategies for Sellers… ● Tips for Pricing Your Home ► Buyers today know value ► Effects of wrong pricing ► Price Blocking ● Tips 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/55828Slide 23 of 43
  24. 24. 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 drivewaySlide 24 of 43
  25. 25. Tips to Staging Your House ● Declutter ● Get rid of ALL smells ● Get the dust and film off of everything ● Make sure all electronics are turned off ● Make all beds & add throw pillows to couches ● Put fresh flowers in rooms ● New fixtures and drapes in the bathroom or kitchen ● Neutral colorsSlide 25 of 43
  26. 26. 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 concernsSlide 26 of 43
  27. 27. Pricing Strategies What if we over price? What if we under price? ● Loss of Interested Buyers ● Stand out from ► Eliminates Offers = Lower competition Price ● More buyers = more ● Long days on market offers… ● Need price-reduction plan ● Lower carrying costs ● Hope: one buyer ● Risk: one buyer ● Appraisal concernsSlide 27 of 43
  28. 28. 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 all Slide 28 of 43Source: 2009 NAR Profile of Home Buyers and Sellers
  29. 29. 90% of Buyers Search Online 4,788,014 visits in Southern California area for January 2012 (Source: Internal records)Slide 29 of 43
  30. 30. Your House as Seen by… YouSlide 30 of 43
  31. 31. Your House as Seen by… The BuyerSlide 31 of 43
  32. 32. Your House as Seen by… The LenderSlide 32 of 43
  33. 33. Your House as Seen by… The AppraiserSlide 33 of 43
  34. 34. Your House as Seen by… The Tax AssessorSlide 34 of 43
  35. 35. Negotiations and Tactics ● Understanding current market conditions ● Personal vs. business ● Evaluate entire offer ► Price ► Settlement date ► Inspections ► Financing ● To counter or not to counterSlide 35 of 43
  36. 36. Inspections and Contracts ● Types of home inspections ► Home Inspection vs. General Inspection ► Opportunity to negotiate repairs? ● As-is terminology ● Seller creditsSlide 36 of 43
  37. 37. After Offer is Accepted… ● Agent ● Loan Application ● Alternate Agent ● Title Contingency ● HOA Contingency ● Team Coordinator (condos) ● Mutual Acceptance ● Inspection Contingency ● Earnest money due ● Financing Contingency ● ClosingSlide 37 of 43
  38. 38. Thanks For Coming Out Tonight! Please fill out the survey. We’d love to get your feedback on how the class could improve. If you’d like to get in touch with an agent, just chat with us now or contact us on Redfin.com.Slide 38 of 43
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