Redfin Home Selling Class
Everything you need to know in today’s market.
July 30th, 2014 – Washington, DC
Presented by: Sa...
Meet Redfin’s Listing DC Team
Agenda
● Intro to Redfin
● Understanding the Market
● The Selling Process
● Pricing Strategies
● Marketing your home
● Rep...
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; 9...
Understanding the
Market
Washington, DC Inventory
DC Home Prices
DC Area Overview
The Selling Process
The Selling Process
● Decide on selling
● Meet with an Agent
● Stage and prepare your Home (Open Book referrals)
● Photogr...
Pricing: An Art & Science
● Consider the current economic factors
►Housing market
►Mortgage rates
►Employment & other Econ...
Pricing Strategies
What if we over price?
● Fewer Buyers see your house
● More days on market can elicit suspicion
● Need ...
Comparative Market Analysis
● What is a CMA?
► Art and Science: Left brain VS Right brain
► What is my home really “worth”...
What is the Best Day to List?
● Homes listed on Sunday get marginally more online views.
● Homes listed on Friday are tour...
How to Get Your Home
Ready to Sell
Front Door
● The first impression of the house
● Clean!
● Nice hardware on door goes a long way
● Clean/updated hardware -...
Porch
● Don’t put a lot on it
● A place for people to sit
● 1 or 2 great decorative pieces
● Grill – make sure it’s clean!...
Paint
● Things to consider:
► How much light the home gets
► What color the neighbor’s home is painted
► Specific to style...
Driveways and Pads
● Kill weeds
● Cut branches and bushes back
● Shovel driveway in winter
● Hide garbage cans
● Power was...
The Backyard
● Power wash patios/deck
● Furniture
►Buyers will sit
►Borrow from a friend
►Bright pillows
● Trim back large...
Repairs and Updates
Entryway
Usually the 1st and last thing a potential buyer sees
when looking at any home/condo.
Things to focus on:
● Are t...
Kitchen
As you have probably heard, kitchens & bathrooms sell homes!
Kitchen Floors: Hardwood
● Hardwood: If you have hardwood
floors you already know they can
show wear and tear easily.
● A ...
Kitchen Counters and Cabinets
● Backsplash:
► A tile backsplash can make for
a nice upgrade from just wall
paint between y...
Baths
This is the second place that people are going to really focus on.
Baths: Floor
● Floors:
► Basically the same idea as the kitchen: either clean or re-grout.
► New tile installation can als...
Marketing Your Home
Listing with Redfin
● More People See your Home
► Redfin.com is the #1 used RE search site in the US
►Your listing gets Pr...
Benefits of a MLS Powered Site
● Redfin.com has 20+% more agent-listed properties than two
national portals, Zillow and Tr...
Marketing Blitz
#1
Brokerage
Website
Twice as many people see your home on Redfin.com
Thanks for Coming!
Questions? Get in touch:
Sam Klosh sam.klosh@redfin.com
Adam Vogt adam.vogt@redfin.com
Check out our up...
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Redfin DC Home Selling Class

  1. 1. Redfin Home Selling Class Everything you need to know in today’s market. July 30th, 2014 – Washington, DC Presented by: Sam Klosh & Adam Vogt Follow: @Redfin Like: http://www.facebook.com/Redfin
  2. 2. Meet Redfin’s Listing DC Team
  3. 3. Agenda ● Intro to Redfin ● Understanding the Market ● The Selling Process ● Pricing Strategies ● Marketing your home ● Repairs & updates ● Staging & perfect pictures ● Questions? ● Thanks!
  4. 4. 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. ● New RE Model: Customers, not commissions ● Buy-side: More info available + Transparency = Informed decisions = The right home for the right price ● Sell-side: We do MORE (Info, Photos, Classes, Sparking Debut, FT Coordinator, Proprietary Software for LESS ($$)
  5. 5. Understanding the Market
  6. 6. Washington, DC Inventory
  7. 7. DC Home Prices
  8. 8. DC Area Overview
  9. 9. The Selling Process
  10. 10. The Selling Process ● Decide on selling ● Meet with an Agent ● Stage and prepare your Home (Open Book referrals) ● Photograph your home ● Take it live! ● Get an offer & expert help in negotiating = Signed Contract ● Work as a Team through the Inspection & Appraisal process ● Signing / Funding / $$$
  11. 11. Pricing: An Art & Science ● Consider the current economic factors ►Housing market ►Mortgage rates ►Employment & other Economic factors ● Consider ►Location-Competition-Timing-Condition-Price ►Comparable homes in your area  “Active”: Your direct competition  “Pendings”: How many DOM can indicate final price  “Solds”: Watch the trends of list VS sold prices
  12. 12. Pricing Strategies What if we over price? ● Fewer Buyers see your house ● More days on market can elicit suspicion ● Need price - reduction plan ● Hope: One Buyer pays the higher price ● Risk: Appraisal concerns What if we under price? ● Elicit Market Interest ● More buyers see your house = more potential offers ● Sold more quickly ● Hope: More than 1 Buyer ● Risk: Timing works against you & only 1 Buyer makes an offer
  13. 13. Comparative Market Analysis ● What is a CMA? ► Art and Science: Left brain VS Right brain ► What is my home really “worth”? ● CMA VS Appraisal? ► What they each mean to you ● How could 3 different Agents suggest 3 different prices? ►Experience level ►Business style ► Underlying Strategy
  14. 14. 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 or less.
  15. 15. How to Get Your Home Ready to Sell
  16. 16. Front Door ● The first impression of the house ● Clean! ● Nice hardware on door goes a long way ● Clean/updated hardware - spend $100 on updated locks
  17. 17. Porch ● Don’t put a lot on it ● A place for people to sit ● 1 or 2 great decorative pieces ● Grill – make sure it’s clean! ● Porch lights ►Make sure they work ►Buy new ones – Great touch for under $50
  18. 18. 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 an appealing color
  19. 19. Driveways and Pads ● Kill weeds ● Cut branches and bushes back ● Shovel driveway in winter ● Hide garbage cans ● Power wash driveway and walkway
  20. 20. 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-stain ►Make sure gates work
  21. 21. Repairs and Updates
  22. 22. 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.
  23. 23. Kitchen As you have probably heard, kitchens & bathrooms sell homes!
  24. 24. 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!
  25. 25. Kitchen Counters and Cabinets ● Backsplash: ► A tile backsplash can make for a nice upgrade from just wall paint between your countertops and cabinets ● Cabinets: ► Often are in good shape but show normal signs of wear from daily use. ► Painting cabinets = inexpensive alternative to replacing them. ► Re-facing
  26. 26. Baths This is the second place that people are going to really focus on.
  27. 27. 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:
  28. 28. Marketing Your Home
  29. 29. Listing with Redfin ● More People See your Home ► Redfin.com is the #1 used RE search site in the US ►Your listing gets Premiere placement on Redfin.com ►Mobile app target “On-the-Go” Buyers ►Professional HD Photography ►Stunning “Get Noticed” Flyers ● You’ll Know It All at Every Step ►You’ll have a whole Team on your side ► Link to show how many people have viewed your home ►Advise you at every step in the process
  30. 30. Benefits of a MLS Powered Site ● 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 Data Quality Redfin Trulia Zillow % of Agents – Listed Homes Available 100% 81% 79% Median Days to Publish a New Listing 0 9 7 % of Published Listings No Longer for Sale 0.1% 37% 36%
  31. 31. Marketing Blitz #1 Brokerage Website Twice as many people see your home on Redfin.com
  32. 32. Thanks for Coming! Questions? Get in touch: Sam Klosh sam.klosh@redfin.com Adam Vogt adam.vogt@redfin.com Check out our upcoming classes: http://www.redfin.com/events

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