Home selling class phoenix 3.22

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Home selling class phoenix 3.22

  1. 1. Selling in Today’s Market Phoenix, AZ March 22, 2012
  2. 2. Agenda for March 22, 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 Mutual
  3. 3. Case-Shiller: Phoenix Area v. 20-City 250.00 Case-Shiller: Phoenix Area Down 1.2% year-over-year 200.00 Peak was June 2006 Down 55% from peak Currently at January 2011 prices 150.00 100.00 Case-Shiller: 20-City Composite 50.00 Down 4.0% year-over-year Peak was July 2006 Down 33.8% from peak Currently at February 2003 prices 0.00Considering… Looking… Buying…
  4. 4. Scottsdale February Stats for HomesConsidering… Looking… Buying…
  5. 5. ‐ 10,000  20,000  30,000  40,000  50,000  60,000 Jan‐02 70,000 May‐02 Considering…Sep‐02Jan‐03May‐03Sep‐03Jan‐04May‐04Sep‐04Jan‐05May‐05Sep‐05Jan‐06May‐06 Looking…Sep‐06Jan‐07May‐07Sep‐07Jan‐08May‐08Sep‐08Jan‐09 Buying…May‐09 Number of Active ListingsSep‐09Jan‐10May‐10Sep‐10Jan‐11 Scottsdale February Stats for HomesMay‐11Sep‐11 # of Active Listings ‐ Cromford ReportJan‐12
  6. 6. Number of Active Listings Single Family Dwellings50,000  Single Family Homes45,000  Selection of 40,000  Homes35,000 30,000  Competition25,000 20,000 15,000 10,000  5,000  ‐ Jan‐11 Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐11 Jul‐11 Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12
  7. 7. Homes for Sale by Listing Type Short Sales 12% Traditional 14% Short Sales 21% Lender Owned 11% Last Year This Year Traditional 77% Lender Owned 65%
  8. 8. Avg $/sqft for 3 Bedroom Homes By Listing Type$120  Inventory – Single Family Homes Traditional Lender Owned Short Sale$100  Sold Pending Active Pending Solds Inventory Inventory $80  REO 1,099 2,163 1,482 0.74 1.46 $60  $40  Traditional 7,575 4,829 2,953 2.57 1.64 $20  Not all these homes will sell Short Sales 1,154 10,465 1,841 0.63 5.68 $‐
  9. 9. Where is the Market Headed?• Supply of homes is at a five-year low, but signs are pointing to a slight increase in inventory this spring• Foreclosure inventory has been driving price declines, but number of them are decreasing
  10. 10. What Redfin Is All AboutOur MissionTo use technology and a customer service focus to make buyingand selling homes better for consumers.The Redfin Difference: service, not sales• Agents 100% focused on clients, not prospecting• Every client surveyed, every response published• Every agent paid on client satisfactionWhat That Means for You: a good sale, not any sale• Deepest local expertise: what’s selling, who’s buying• Accountable for results• Focused on your goals, not mine
  11. 11. A Little Bit About Who We AreRedfin is a real estate brokerage that hashelped 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 Get back up to 50% of our commission
  12. 12. 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 dashboard
  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 process
  14. 14. Best Price and Lower Fees • Agent’s are paid on satisfaction • Honest Agents • No pressure advice • Time spent serving YOU! • Lower Fees • 1.5% Fee vs. Traditional 3%
  15. 15. Save Without CompromiseConsidering… Looking… Buying…
  16. 16. Preparing to Sell
  17. 17. 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-InspectionHistory of the Home • Gather paperwork (oil tanks, permits, receipts)Professional Help • Landscaping • Staging
  18. 18. Perfect Pictures
  19. 19. Agent-Contract Audits
  20. 20. 10003220
  21. 21. Photography 101- Camera Quality: Point and Shoot
  22. 22. Photography 101- Camera Quality: Medium Quality
  23. 23. Photography 101- Camera Quality: High End
  24. 24. Photography 101- Wide Angles
  25. 25. Photography 101- HDR – How it Works
  26. 26. Photography 101- HDR – How it Works
  27. 27. Price & List Strategies
  28. 28. Strategies for Sellers…Tips for Pricing Your Home • Buyers today know value • Effects of wrong pricing • Price BlockingTips 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/55828
  29. 29. Final Sale to List % 104% By Listing Type Homes are selling102% for above list price100%98%96%94% Traditional Experienced home buyers see Lender Owned Short Sale92% over-priced listings as homes that won’t sell, so they avoid them.90%
  30. 30. % of Homes Sold, Expired, Cancelled100%90%80%70%60% Expired50% Cancelled Sold40%30%20%10% 0% Short Sales Traditional Lender Owned
  31. 31. 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 stucco• 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 driveway
  32. 32. Tips to Staging Your House• De-clutter• 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 colors
  33. 33. 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
  34. 34. Pricing Strategies What if we under price? What if we over price?• Stand out from competition • Loss of Interested Buyers• More buyers = more offers… • Eliminates Offers = Lower Price• Lower carrying costs • Long days on market• Risk: one buyer • Need price-reduction plan • Hope: one buyer • Appraisal concerns
  35. 35. 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 allSource: 2009 NAR Profile of Home Buyers and Sellers
  36. 36. Your House as Seen by…You
  37. 37. Your House as Seen by…The Buyer
  38. 38. Your House as Seen by…The Lender
  39. 39. Your House as Seen by…The Appraiser
  40. 40. Your House as Seen by…The Tax Assessor
  41. 41. Negotiations and Tactics• Understanding current market conditions• Personal vs. business• Evaluate entire offer • Price • Closing date • Inspections • Financing• To counter or not to counter
  42. 42. Inspections and Contracts• Types of home inspections • Home Inspection vs. Specific Inspection • Opportunity to negotiate repairs?• As-is terminology• Seller credits
  43. 43. After Offer is Accepted…• Agent • Mutual Acceptance• Alternate Agent • Earnest money due• Team Coordinator • Loan Application • Title Contingency • HOA Contingency (condos) • Inspection Contingency • Financing Contingency • Closing
  44. 44. We Share Our Commission With YouConsidering… Looking… Buying…
  45. 45. Thanks For Coming Out Tonight!• Please fill out the survey! We’d love to get your feedback on how the class could improve.• We’ll send out the deck tomorrow!• If you’d like to get in touch with an agent, just chat with us now or contact us on Redfin.com.

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