(show pre-done CMA from MRIS, pulled in advance, include summary with photos of comps, and summary detail at a minimum)
Talking point: Redfin.com is the most-visited brokerage website in the markets we serve, over 5 million monthly visitors nationwide
UPDATE THIS SLIDE: (Seattle only) Delete the realtor.com image and “we buy premium placement…” statement from this slide. Seattle does not promote listings on realtor.com.
We’ll stick around…
Redfin's Free Home Selling Class - Lake Oswego
Selling In Today’s Market
August 15, 2013 Portland, OR
Presented by: Wayne Olson
Redfin’s Listings Portland 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 ($$)
Case-Shiller: Portland Area v. 20-City
Case-Shiller – By the Numbers
Up 12.0% year-over-year
Peak was July 2007
Down 21.3% from peak
Currently at June 2005 prices
Up 12.1% year-over-year
Peak was July 2006
Down 26.2% from peak
Currently at January 2004 prices
7 Secrets to Sell Your Home
Faster and for More Money
1. Know the Process: Knowledge puts you in the Driver’s
2. Know Your Numbers: Price it right the first time
3. A House Not A Home: Prepare Your Home For the Market
4. Surviving the Inspection: Maintenance & Repairs
5. “Why now?”: Upgrades & Touches that Payoff
6. Sparkling Debut: Photos make the FIRST Impression
7. Get Noticed: Exposure is the Key!
The Selling Process
● Decide on selling
● Meet with an Agent
● Stage and prepare your Home (Open Book referrals)
● Photograph your home
● Take it live!
● Get an offer & expert help in negotiating = Signed Contract
● Work as a Team through the Inspection & Appraisal process
● Signing / Funding / $$$
Pricing: An Art & Science
● Consider the current economic factors
► Housing market
► Mortgage rates
► 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?
► Experience level
► Business style
► 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.
● 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
► Bright pillows
● Trim back large bushes – makes yard appear bigger
► Make sure gates work
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: many times the tile is in good shape
but the grout is either falling apart or
discolored from the foot traffic pattern.
● 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
► There are new products out
there that can make tackling
this type of project much
easier if you want to try to take
on this upgrade yourself.
SimpleMat is one example.
► Often are in good shape but
show normal signs of wear
from daily use.
► Painting cabinets that are in
good shape but show signs of
moderate wear & tear is an
inexpensive alternative to
► Re-facing is another cost
effective alternative to putting
in all new cabinets.
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.
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
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:
Wayne Olson email@example.com
Check out our upcoming classes: