Home selling class july 25 2012

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Home selling class july 25 2012

  1. 1. Sell Your Home for Top Dollar in 10 Days or Less Irvine, CA July 25, 2012 Follow: @RedfinOC Like: http://www.facebook.com/RedfinOCSlide 1 of 41
  2. 2. Agenda for July 25, 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 41
  3. 3. Orange County June Stats for HousesSlide 3 of 41
  4. 4. Orange County June Stats for HousesSlide 4 of 41
  5. 5. National Market Trends ● Redfin’s data for 19 U.S. markets show June prices increasing 3.0% over last year ● CoreLogic reported that May home prices increased 2.0% year-over-year, rising for the third consecutive month ● One in four homes under contract in less than two weeks ● Low rates and low inventory are creating the price pressure. ● The interest rate on a 30-year mortgage hit an all-time low last week of 3.56%. ● The number of homes for sale is down 19% from last year, and down nearly 50% in California and Seattle ● Completed foreclosures are down 27% from their 2010 peak, and seriously delinquent mortgages hit a three-year low.Slide 5 of 41
  6. 6. Where is the Local Market Headed? ● Supply of homes is at a five-year update!!! increase the Presenter to low and won’t rest of the year ● Rents have been rising, making buying more attractive) ● Market stabilizing, though likely 2-3 years before significant appreciation ● Rate increases - biggest issue for buyersSlide 6 of 41
  7. 7. 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 7 of 41
  8. 8. 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 8 of 41
  9. 9. 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 9 of 41
  10. 10. 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 10 of 41
  11. 11. 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 11 of 41
  12. 12. Marketing Blitz Emails #1 brokerage site 100-250 clicks/daySlide 12 of 41
  13. 13. 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 13 of 41
  14. 14. Maximum Exposure 90% or more of buyers look online We buy premium placement on #1 real estate website in U.S. (Source: Hitwise)Slide 14 of 41
  15. 15. 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 15 of 41Source: 2009 NAR Profile of Home Buyers and Sellers
  16. 16. 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 16 of 41
  17. 17. 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 17 of 41
  18. 18. Preparing to SellSlide 18 of 41
  19. 19. 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 19 of 41
  20. 20. Perfect PicturesSlide 20 of 41
  21. 21. Agent-Contract AuditsSlide 21 of 41
  22. 22. 10003220Slide 22 of 41
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  27. 27. Price & List StrategiesSlide 27 of 41
  28. 28. 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 28 of 41
  29. 29. 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 29 of 41
  30. 30. 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 30 of 41
  31. 31. 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 31 of 41
  32. 32. 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 32 of 41
  33. 33. Your House as Seen by… YouSlide 33 of 41
  34. 34. Your House as Seen by… The BuyerSlide 34 of 41
  35. 35. Your House as Seen by… The LenderSlide 35 of 41
  36. 36. Your House as Seen by… The AppraiserSlide 36 of 41
  37. 37. Your House as Seen by… The Tax AssessorSlide 37 of 41
  38. 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 38 of 41
  39. 39. Inspections and Contracts ● Types of home inspections ► Home Inspection vs. General Inspection ► Opportunity to negotiate repairs? ● As-is terminology ● Seller creditsSlide 39 of 41
  40. 40. 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 40 of 41
  41. 41. 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 41 of 41

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