Redfin Free Home Selling Class - Renton, WA
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Redfin Free Home Selling Class - Renton, WA






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Redfin Free Home Selling Class - Renton, WA Presentation Transcript

  • 1. 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 Follow: @Redfin Like:
  • 2. Agenda ● Intro to Redfin ● Understanding the Market ● The Selling Process ● Pricing Strategies ● Marketing your home ● Repairs & updates ● Curb appeal ● Staging & perfect pictures ● Questions?
  • 3. Redfin Listings NW South Team
  • 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 ($$)
  • 5. Understanding the Market
  • 6. Renton Inventory
  • 7. Renton Home Prices
  • 8. Renton Area Overview
  • 9. Selling Your Home
  • 10. 7 Secrets to Sell Your Home Faster and for More Money 1. Know the Process: Knowledge puts you in the Driver’s Seat 2. Know Your Numbers: Price it right the first time 3. A House Not A Home: Prepare Your Home For the Market 4. Surviving the Inspection: Maintenance & Repairs 5. “Why now?”: Upgrades & Touches that Payoff 6. Sparkling Debut: Photos make the FIRST Impression 7. Get Noticed: Exposure is the Key!
  • 11. The Selling Process
  • 12. The Selling Process ● Decide on selling ● Meet with an Agent ● Stage and prepare your Home (Open Book referrals) ● Photograph your home ● Take it live! ● Get an offer & expert help in negotiating = Signed Contract ● Work as a Team through the Inspection & Appraisal process ● Signing / Funding / $$$
  • 13. 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
  • 14. 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
  • 15. 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
  • 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 or less.
  • 17. How to Get Your Home Ready to Sell
  • 18. Curb Appeal
  • 19. 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
  • 20. 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
  • 21. 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
  • 22. Driveways and Pads ● Kill weeds ● Cut branches and bushes back ● Shovel driveway in winter ● Hide garbage cans ● Power wash driveway and walkway
  • 23. 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
  • 24. Repairs and Updates
  • 25. 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.
  • 26. Kitchen As you have probably heard, kitchens & bathrooms sell homes!
  • 27. 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 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.
  • 28. 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!
  • 29. 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
  • 30. Baths This is the second place that people are going to really focus on.
  • 31. 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:
  • 32. 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.
  • 33. Staging & Perfect Pictures
  • 34. 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
  • 35. 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
  • 36. 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
  • 37. 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
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  • 58. 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
  • 59. 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
  • 60. Marketing Your Home
  • 61. Listing with Redfin ● More People See your Home ► is the #1 used RE search site in the US ►Your listing gets Premiere placement on ►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
  • 62. Benefits of a MLS Powered Site ● Recent Windermere/Redfin study across 11 major U.S. cities ● 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
  • 63. Marketing Blitz #1 Brokerage Website Twice as many people see your home on
  • 64. Marketing Blitz Potential buyers see your home on the web
  • 65. Thanks for Coming! Questions? Get in touch: Monique Losk – Kenny Whiteside – Check out our upcoming classes: