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Home Selling Webinar - Boston - February 10, 2012


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Home Selling Webinar - Boston - February 10, 2012

  1. 1. Selling Your Home for Top Dollar Redfin’s Cambridge Area Team
  2. 2. Agenda• 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: Boston v. 20-City 250.00 Case-Shiller: Boston Down 1.6% year-over-year Peak was September 2005 Down 17.6% from peak 200.00 Currently at April 2003 prices 150.00 100.00 Case-Shiller: 20-City Composite Down 3.7% year-over-year 50.00 Peak was July 2006 Down 32.9% from peak Currently at April 2003 prices 0.00Considering… Looking… Buying…
  4. 4. Middlesex December Stats for SF Homes:Considering… Looking… Buying…
  5. 5. Middlesex SF December Market StatsConsidering… Looking… Buying…
  6. 6. Suffolk December Stats for Condos:Considering… Looking… Buying…
  7. 7. December Suffolk Condo StatsConsidering… Looking… Buying…
  8. 8. Cambridge December Stats for Condos:Considering… Looking… Buying…
  9. 9. Cambridge December Stats for Condos:Considering… Looking… Buying…
  10. 10. Newton December Stats for SF Homes:Considering… Looking… Buying…
  11. 11. Newton December Stats for SF Homes:Considering… Looking… Buying…
  12. 12. 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
  13. 13. 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
  14. 14. 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
  15. 15. 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
  16. 16. Photos Make A Big Difference After price, the #1 factor for driving tours: photos
  17. 17. 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 driveway
  18. 18. 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 colors
  19. 19. 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
  20. 20. 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
  21. 21. 90% of Buyers Search Online 1,189,725 visits in DC area for December 2011 (Source: Internal records)
  22. 22. Your House as Seen by…You
  23. 23. Your House as Seen by…The Buyer
  24. 24. Your House as Seen by…The Lender
  25. 25. Your House as Seen by…The Appraiser
  26. 26. Your House as Seen by…The Tax Assessor
  27. 27. Negotiations and Tactics• Understanding current market conditions• Personal vs. business• Evaluate entire offer • Price • Settlement date • Inspections • Financing• To counter or not to counter
  28. 28. Inspections and Contracts• Types of home inspections • Home Inspection vs. General Inspection • Opportunity to negotiate repairs?• As-is terminology• Seller credits
  29. 29. 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
  30. 30. How Commissions Work Example: You buy a home for $500,000 Traditional Agents Commission Seller’s Agent (2.5%) $12,500 Buyer’s Agent (2.5%) $12,500 Redfin Agents Commission Seller’s Agent (2.5%) $12,500 Redfin (66.67%) $8,334 Redfin Buyer (33.33%) $4,166 • Redfin refunds 33% of the buyer’s agent commission • Applied to closing costs • Remainder paid as a check within 10 days of closing • Refund is tax-free • Minimum Redfin fee: $6,000Considering… Looking… Buying…
  31. 31. Thanks For Coming Out Tonight!Please fill out the survey we’ll sendtomorrow along with the slide deck. We’dlove to get your feedback on how the classcould improve.If you’d like to get in touch with an agent,just chat with us now or contact us