Redfin Danville Rountable Dinner 7.25

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  • (show pre-done CMA from MRIS, pulled in advance, include summary with photos of comps, and summary detail at a minimum)
  • Talking point: Redfin.com is the most-visited brokerage website in the markets we serve, over 5 million monthly visitors nationwide
  • Redfin Danville Rountable Dinner 7.25

    1. 1. Homeowner Roundtable Dinner Redfin’s Lafayette – Walnut Creek Team Date: July 25, 2013 Host: Lynda Divito – Listing Specialist Follow: @RedfinSanFrancisco Like: http://www.facebook.com/RedfinBayArea
    2. 2. Agenda ● Understanding the market ● The selling process ● Pricing your home ● Marketing your home ● Repairs & updates ● Curb appeal ● Staging & perfect pictures ● Questions?
    3. 3. 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 ● Right home for the right price  No obligation  Commission credit
    4. 4. Understanding the Market
    5. 5. Danville July Stats for Homes
    6. 6. Danville June Stats for Homes
    7. 7. Overview of Danville
    8. 8. The Selling Process
    9. 9. The Selling Process ● Decide on selling ● Interview agents ● Stage and prepare your home (Open Book) ● Photograph your home ● Take it live! ● Get a contract ● Hand over the keys
    10. 10. What to Ask Any Agent ● Is this your full-time job? ● Familiar with foreclosures or short-sales? ● Where were your last five deals? ● Who else will be working with me? ● When am I committed to working with you? ● Has a client ever filed a complaint? ● How are you paid? ● Can I see some reviews of your work?
    11. 11. Pricing Strategies What if we over price? ● Loss of Interested Buyers ► Eliminates Offers = Lower Price ● Long days on market ● Need price-reduction plan ● Hope: one buyer ● Appraisal concerns What if we under price? ● Stand out from competition ● More buyers = more offers… ● Lower carrying costs ● Risk: one buyer
    12. 12. Selling Your Home
    13. 13. 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
    14. 14. Pricing Strategies What if we over price? ● Loss of Interested Buyers ► Eliminates Offers = Lower Price ● Long days on market ● Need price-reduction plan ● Hope: one buyer ● Appraisal concerns What if we under price? ● Stand out from competition ● More buyers = more offers… ● Lower carrying costs ● Risk: one buyer
    15. 15. Comparative Market Analysis ● What is a CMA? ● What is the difference between a CMA and an appraisal? ● How could 3 different agents suggest 3 different prices?
    16. 16. What is the Best Day to List? ● Homes listed on Sunday get marginally more online views. ● Homes listed on Friday are toured 19% more. ● Homes listed on Friday or Thursday sell for slightly closer to original list price. ● Homes listed on Friday are 12% more likely to sell in 90 days.
    17. 17. 5 Secrets to Sell Your Home Faster and for More Money 1. Price it right the first time 2. De-clutter / Staging 3. Kitchens and bathrooms! 4. Always be ready to show 5. Photos and first impressions
    18. 18. Marketing Your Home
    19. 19. Listing with Redfin ● More People See your Home ► Premium placement on Redfin.com ► Mobile apps target on-the-go buyers ► Promote home in targeted emails ► 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 process
    20. 20. Benefits of a MLS Powered Site ● Recent Windermere/Redfin study across 11 major U.S. cities ● Redfin.com has 20+% more agent-listed properties than two national portals, Zillow and Trulia ● We display new listings 7 to 9 days faster, and record sales faster too
    21. 21. Marketing Blitz 100-250 extra clicks per day #1 Brokerage Website Twice as many people see your home on Redfin.com
    22. 22. Repairs and Updates
    23. 23. Entryway Usually the 1st and last thing a potential buyer sees when looking at any home/condo. Things to focus on: ● Are the walls & baseboards damaged, scuffed or dinged up? ► A quick coat of paint can make a big impact. ● Is the light fixture in need of being replaced? ► Adequate light is important; makes the entryway feel more open and inviting. ● Does the area have proper storage (are things piled up and stuffed in corners)? ► Not necessarily on the cheaper end of updates, but a built-in storage area can be a big plus.
    24. 24. Kitchen As you have probably heard, kitchens & bathrooms sell homes!
    25. 25. Kitchen Floors: Tile ● Tile: many times the tile is in good shape but the grout is either falling apart or discolored from the foot traffic pattern. ● A cheap do-it-yourself fix is to buy some industrial cleaner and a good firm bristle scrubbing brush and go to town on the grout. ● Another option would be to hire a company like The Grout Dr. They come out and rout out the old grout and re- grout the whole area with new material. This is also a much cheaper option than ripping up the old tile and having to pay a contractor to retile the entire kitchen.
    26. 26. Kitchen Floors: Hardwood ● Hardwood: If you have hardwood floors you already know they can show wear and tear easily. ● A quick & easy do-it-yourself fix to minor scratches and moderate signs of wear, is to use a hardwood floor cleaner/polisher. It will remove light signs of wear immediately. ● For heavy scratches and damage, a good option aside from replacing the flooring would be to hire a company to refinish the floors. They will come in and sand down the floors and apply a coat of polyurethane. Your floors will usually look like new!
    27. 27. Baths This is the second place that people are going to really focus on.
    28. 28. Baths: Floor ● Floors: ► Basically the same idea as the kitchen: either clean or re-grout. ► New tile installation can also make a big impact in any bathroom. Before: After:
    29. 29. Baths ● Shower enclosures can show signs of wear and water damage to the grout and caulking. An effective & inexpensive fix is to strip and re-caulk any material that shows signs of mold or discoloration. ● Retiling a shower enclosure is also a nice facelift but is going to be more costly than touching up the tile. ● Vanity/Toilet: If they are in poor shape, replacing them is not a very expensive option and can make a big difference from run down fixtures. ● Swapping out the faucet/shower control and shower head can also make a worn down bathroom look new if the rest of the items are in good shape.
    30. 30. Curb Appeal
    31. 31. Paint ● Things to consider: ► How much light the home gets ► What color the neighbor’s home is painted ► Specific to style (modern vs. craftsman) ● Contrasting colors - Light trim/solid color ● Painting door a good color
    32. 32. Driveways and Pads ● Kill weeds ● Cut branches and bushes back ● Shovel driveway in winter ● Hide garbage cans ● Power wash driveway and walkway
    33. 33. Porch ● Don’t put a lot on it ● Places for people to sit ● 1 or 2 great pieces ● Grill ● Porch lights ► Make sure they work ► Buy new ones - $50
    34. 34. The Backyard ● Power wash patios/deck ● Furniture ► Buyers will sit ► Borrow from a friend ► Bright pillows ● Trim back large bushes – makes yard appear bigger ● Fence ► Paint/re-stand ► Make sure gates work
    35. 35. Staging & Perfect Pictures
    36. 36. Tips for Staging Your House ● De-clutter! De-clutter! De-clutter! ● Get rid of ALL smells ● Get the dust and film off of everything ● Make all beds & add throw pillows to couches ● New fixtures and drapes in the bathroom or kitchen ● Neutral colors
    37. 37. The Importance of Staging Your Home Will Spend Less Time on the Market ● The Real Estate Staging Association studied 174 homes previously on the market an average of 156 days. ● Those same homes were professionally staged, relisted and sold in 42 days on average after staging. This is 73% less time on the market.* *2011 RESA study
    38. 38. The Importance of Staging Your Home Will Show Better in Photographs ● 90% of all home purchases begin with an Internet search ● Photos begin to sell your home before buyers even enter it
    39. 39. The Staging Process Explained For an Unoccupied Property: ● Staging generally takes 2 days ● Stagers make recommendations for improvements and maintenance ● Stagers bring in all furniture, rugs, lamps, window treatments, art and accessories
    40. 40. Before:
    41. 41. After:
    42. 42. Before:
    43. 43. After:
    44. 44. How Much Can You Expect to Spend on Staging? ● Some stagers charge $1.50 per square foot ● Monthly rental fee based on 1/3 of the staging cost ● Rental fees are pro-rated daily after the first month
    45. 45. The Return on Investment of Staging Your Home ● If, for example, staging your home costs $2,600 - and results in a $26,000 increase in your home's sale price - that's a $1,000% return on investment ● "The investment in staging your home will always be less than a price reduction on your home." - Barb Schwarz, founder of home staging ● "This home was on the market for 90 days with no offers. At the insistence of the homeowner, I was contacted to stage the property. It sold two days after staging. What does that tell you about the importance of staging?" - home stager, St. Louis, MO
    46. 46. Thanks for Coming! Please fill out the survey that was handed out at the beginning of class. We appreciate the feedback! Check out our upcoming classes and events at http://www.redfin.com/buy-a-home/classes-and-events Lynda DiVito | Listing Specialist| Redfin Livermore -Pleasanton lynda.divito@redfin.com | T: 925.385.8803

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