Home Selling Class  San Francisco 8152012
Upcoming SlideShare
Loading in...5
×
 

Home Selling Class San Francisco 8152012

on

  • 239 views

 

Statistics

Views

Total Views
239
Views on SlideShare
239
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Home Selling Class  San Francisco 8152012 Home Selling Class San Francisco 8152012 Presentation Transcript

  • Home Selling Class San Francisco August 15, 2012Slide 1 of 38
  • Agenda for August 15, 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 38
  • SF June Stats for HousesSlide 3 of 38
  • SF June Stats for HousesSlide 4 of 38
  • SF June Stats for CondosSlide 5 of 38
  • SF June Stats for CondosSlide 6 of 38
  • Local Market Trends LOW INVENTORY & MULTIPLE OFFERS Months of Supply – The time it would take to sell through all the homes on the market, given the current pace of sales● Supply of homes is at a five-year low & won’t increase the rest of the year● In a balanced market, Months of Supply is between 5-6 months --- Anything less is a seller’s market● Multiple Offer situations are common across the board in various areas● Multiple offers are not only against 3 or 5 buyers, but more like 10, 20 and sometimes even 30 or more● Rents have been rising, making buying more attractive● Interest rates remain low, making buying attractiveSlide 7 of 38
  • What other trends are we noticing? Homes are being listed at strategically low prices So properties are selling above list price Base your offer price on comps & trends – NOT on list price Deadlines are being set to accept & review offers Sellers usually review offers after about 7 days on market To give property exposure and create buzz amongst buyers Some buyers are waiving their inspection contingency & appraisal contingencySlide 8 of 38
  • Multiple Offer Situations This occurs when inventory is down and buyer interest is up 5 Tips for Winning in a Bidding War 1. Make the competition eat your dust 2. Get pre-approved with a local lender & get underwriter approval 3. Start the conversation early 4. Write a letter & appeal to the seller 5. Know your limitsSlide 9 of 38
  • Multiple Offer Situations This occurs when inventory is down and buyer interest is up 5 Tips for Winning in a Bidding War 1. Make the competition eat your dust 2. Get pre-approved with a local lender & get underwriter approval 3. Start the conversation early 4. Write a letter & appeal to the seller 5. Know your limitsSlide 10 of 38
  • 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 11 of 38
  • Faster, and for More Money Our mission: to reinvent real estate to work better for you Redfin Sells Faster Redfin Sells For More $ On average 8% faster On average $9,700 more Homes listed with a Redfin agent are viewed twice as often as the competition. …And, for a lower feeSlide 12 of 38
  • 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 13 of 38
  • A Sparkling Debut 1. Redfin Open Book: A proven list of quality providers 2. $250 in matching funds to make your home shine ► Cleaning, De-cluttering ► Painting ► Staging 3. Free, professional photos Photos are #2 after price in driving toursSlide 14 of 38
  • Marketing Blitz Emails #1 brokerage site 100-250 clicks/daySlide 15 of 38
  • 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 16 of 38
  • Maximum Exposure 90% or more of buyers look online We buy premium placement on #1 real estate website in U.S. (Source: Hitwise)Slide 17 of 38
  • 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 18 of 38Source: 2009 NAR Profile of Home Buyers and Sellers
  • We Know More, You Know More We use data to understand the science of real estate: ► For example, for the best chance of selling, list on a Friday (yet, only 18.8% of homes are listed on a Friday) See who’s visiting your home online: Your online dashboard ► Compare activity to other local listings ► Respond quickly to market changes ► Identify traffic sourcesSlide 19 of 38
  • And, Lower Fee Traditional Sales amount $500,000 $500,000 Service fees $2,415 $2,415 (approximatel y) Seller fee $15,000 $7,500 Buyer fee $15,000 $15,000 Total fee $32,415 $24,915Slide 20 of 38
  • Preparing to SellSlide 21 of 38
  • 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 22 of 38
  • Perfect PicturesSlide 23 of 38
  • Agent-Contract AuditsSlide 24 of 38
  • 10003220Slide 25 of 38
  • Slide 26 of 38
  • Slide 27 of 38
  • Slide 28 of 38
  • Slide 29 of 38
  • Price & List StrategiesSlide 30 of 38
  • 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 31 of 38
  • 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 32 of 38
  • 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 33 of 38
  • 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 34 of 38
  • 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 35 of 38
  • Your House as Seen by… YouSlide 36 of 38
  • Your House as Seen by… The BuyerSlide 37 of 38
  • Your House as Seen by… The LenderSlide 38 of 38
  • Your House as Seen by… The AppraiserSlide 39 of 38
  • Your House as Seen by… The Tax AssessorSlide 40 of 38
  • Negotiations and Tactics ● Understanding current market conditions ● Personal vs. business ● Evaluate entire offer ► Price ► Settlement date ► Inspections ► Financing ● To counter or not to counterSlide 41 of 38
  • Inspections and Contracts ● Types of home inspections ► Home Inspection vs. General Inspection ► Opportunity to negotiate repairs? ● As-is terminology ● Seller creditsSlide 42 of 38
  • 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 43 of 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 44 of 38