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Redfin Free Home Selling Class - Renton, WAPresentation Transcript
Redfin Home Selling Class
everything you need to know in today’s market.
July 10, 2014 – Renton, WA
Presented by: Monique Losk
and Kenny Whiteside
Redfin Listings NW South Team
● Intro to Redfin
● Understanding the Market
● The Selling Process
● Pricing Strategies
● Marketing your home
● Repairs & updates
● Curb appeal
● Staging & perfect pictures
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
● 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 ($$)
Renton Home Prices
Renton Area Overview
Selling Your Home
7 Secrets to Sell Your Home
Faster and for More Money
1. Know the Process: Knowledge puts you in the Driver’s
2. Know Your Numbers: Price it right the first time
3. A House Not A Home: Prepare Your Home For the Market
4. Surviving the Inspection: Maintenance & Repairs
5. “Why now?”: Upgrades & Touches that Payoff
6. Sparkling Debut: Photos make the FIRST Impression
7. Get Noticed: Exposure is the Key!
The Selling Process
The Selling Process
● Decide on selling
● Meet with an Agent
● Stage and prepare your Home (Open Book referrals)
● Photograph your home
● Take it live!
● Get an offer & expert help in negotiating = Signed Contract
● Work as a Team through the Inspection & Appraisal process
● Signing / Funding / $$$
Pricing: An Art & Science
● Consider the current economic factors
►Employment & other Economic factors
►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
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
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?
► Underlying Strategy
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.
How to Get Your Home
Ready to Sell
● The first impression of the house
● Nice hardware on door goes a long way
● Clean/updated hardware - spend $100 on updated locks
● 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
● 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
Driveways and Pads
● Kill weeds
● Cut branches and bushes back
● Shovel driveway in winter
● Hide garbage cans
● Power wash driveway and walkway
● Power wash patios/deck
►Buyers will sit
►Borrow from a friend
● Trim back large bushes – makes yard appear bigger
►Make sure gates work
Repairs and Updates
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
● Is the light fixture in need of being
► Adequate light is important; makes
the entryway feel more open and
● Does the area have proper storage
(are things piled up and stuffed in
► Not necessarily on the cheaper
end of updates, but a built-in
storage area can be a big plus.
As you have probably heard, kitchens & bathrooms sell homes!
Kitchen Floors: Tile
● Tile = good shape, Grount = not!
● 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
● 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.
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!
Kitchen Counters and Cabinets
► A tile backsplash can make for
a nice upgrade from just wall
paint between your
countertops and cabinets
► Often are in good shape but
show normal signs of wear
from daily use.
► Painting cabinets =
inexpensive alternative to
This is the second place that people are going to really focus on.
► Basically the same idea as the kitchen: either clean or re-grout.
► New tile installation can also make a big impact in any bathroom.
● 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.
Staging & Perfect
Tips for Staging Your House
● De-clutter! De-clutter! De-clutter!
● Get rid of ALL smells (even the ones you like!)
● Get the dust and film off of everything
● Wash windows – Inside & Out
● Make all beds & add throw pillows to couches
● New fixtures and drapes in the bathroom or kitchen
● Neutral colors
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
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
The Staging Process Explained
For an Unoccupied Property:
● Staging generally takes 2 days
● Stagers make recommendations for improvements and
● Stagers bring in all furniture, rugs, lamps, window
treatments, art and accessories
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
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
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 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
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
Twice as many people see your home on Redfin.com
Potential buyers see your home on the web
Thanks for Coming!
Questions? Get in touch:
Monique Losk – email@example.com
Kenny Whiteside – firstname.lastname@example.org
Check out our upcoming classes: