Prelisting Guide - How do you sell your home?


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How do I sell your home? What is involved?

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Prelisting Guide - How do you sell your home?

  1. 1. Pre-listing Guide (or How Do You Sell Your Home…)
  2. 2. MY PHILOSOPHY 1. Education 2. Advocacy 3. Guidance ♦ I have been with Windermere since 1997. I work with a great team. We provide a level of service and expertise seldom matched. I implement a specific plan for each client to make sure their needs are met. ♦ I believe that service continues long after the sale has closed. My service philosophy is that I treat you as a "client for life" and provide a high level of service. ♦ Professional staging consultant—I provide the services of an interior designer to help you prepare your most valuable asset for sale. ♦ Professional photography—I hire a professional to take the best possible photos of your house to grab the interest of buyers and agents. ♦ Sketch—If appropriate, I use a sketch artist to create a pen and ink drawing of your home for print marketing. ♦ Systematic Marketing Plan — I utilize software that maps out all activities required to sell your home so that nothing is missed. Few other agents follow an organized plan for each listing. First, I implement a plan for listing and preparing your home for the market. Second, I implement another plan once we enter into contract with a buyer. ♦ Regular Updates— I utilize all the tools at my disposal to provide you with the best information throughout the home selling process. Every week, you will receive an activity report with the number of showings, agent web site visits, public web site visits and area activity analysis. You will never wonder what is happening.
  3. 3. WELCOME SERIOUS HOME-SELLER! Here’s what we need to do to sell your home: STAGING Some sellers hesitate to invest any time or money in the preparation of their home for sale. Many agents will take the path of least resistance and agree with them to just put the home on the market. I feel staging a home to sell is vital in obtaining the best price and best market time. I feel so strongly about this that I hire a professional interior designer to come to your home for a 1/2 day consultation. My designer attended Parson’s School of Design in NYC. Hands on, she will help you prepare your home for the market. In addition, she will give you an itemized list of things to do that will set the stage for buyers coming through. Additionally, there may be some projects around your home that are well worth completing. She & I can advise you which projects would increase your net proceeds overall. *Example Option One: Replace carpeting Cost: $ 3,500 Price increase $10,000 Net gain $ 6,500 *Example Option Two: Finish sheet rocking room Cost $ 750 Price Increase $ 2,000 Net gain $ 1,250 * Examples are meant to illustrate the potential gain and not to represent actual gain which will vary depending on the specific home and circumstances.
  4. 4. PHOTOGRAPHY and SKETCHES 90% of buyers start the buying process by searching online. Appealing photos of your property can be the determining factor in whether your home is shown or rejected. I hire a professional photographer for this vital part of marketing your home. Providing engaging photos online and in marketing materials will show your home to its best advantage & bring the maximum number of buyers through your home. If it is an appropriate part of our marketing plan, I have a sketch artist create a rendering of your home for advertising. Sometimes it is almost impossible to get an attractive exterior photo due to street elevation, trees, or other landscaping challenges. A sketch can remedy and improve the initial appeal of your home online and in print advertising.
  5. 5. PRECISION PRICING 100 80 Activity 60 40 20 0 week 1 week 2 week 3 week 4 Time on the market If your home does not receive an offer within the first 30 days on the market, this is usually an indication that it is overpriced. Price reductions can be like chasing a ball downhill and careful consid- eration should be given to choosing an exciting price from the on- set if maximizing your profit is of ultimate importance. Average list price to sales price is 97% Precision Pricing ♦ Overprice “we can always come down” Lose thousands of dollars. ♦ Fair price makes the home a consideration for buyers, but doesn’t always produce offers. ♦ Exciting price brings multiple offers often resulting in bidding up the price and/or minimizing any requests for seller paid work orders. Make thousands of dollars. ♦ Under price Almost impossible to under-price. The market corrects under-priced houses with multiple offers.
  6. 6. MARKETING PLAN OF ACTION Listing 31 Steps to successful exposure, Checklist negotiation, and ultimately, closing Address:_____ ______________ ______________ a transaction Set up file fo _______ r property Go through ho me with selle consultation r and prepare “To-Do List”. Set up interio Prepare pape r designer rwork for clien t to sign Obtain keys an d access info Order prelimi nary title repo rmation for pr operty Each of these steps rt Coordinate an d assist with staging the ho are essential to Schedule and beneficial. attend profes sional photo me effective marketing shoot. Take ad Order sketch ditional phot os of area if of a property. if needed Have paperw ork signed by client Make extra ke ys for keybox I have systems and Attach keybox Register keyb processes in place to ox to enable Place flag for showing upda tes and feedba assure that all steps optimal sign ck requests Order sign to be posted at posting take place for each property Create silent talkers to high transaction to achieve light property Input property into MLS features the greatest marketing Load photo ga llery so buye rs will see hig results. Create “Offer h-quality phot Packet” for pl os online. need to prep acement at pr are a purchase operty with all & sale. Upload information an - Cover page wi th summarize to MLS also. d contact inf agent would Based on my daily agents ormation for - Property disc title, escrow and listing observations, most losures - Preliminary tit agents do not have le report - Lead based pa int disclosure these systems in place, (if needed) Prepare initial transaction m emo for trans and therefore, cannot Turn in all pa action coordi perwork to of fice manager nator offer consistent, full Order coffee-t Email invitatio able-quality ph oto album fo r marketing an exposure on their n to agents an d as a keepsa to brokers op en house. d my database to announce ke for seller listings. new listing an Office tour d invite them Windermere “Hot Sheet” to ur Enter Brokers Open tours an d open houses Order food fo for the week r broker’s op en to increase Create flyers traffic and attach pe rmanent flyer Another reason to be Order new lis to yard sign ting postcards for immediat sure the agent you Prepare ad fo e mailing r local office “Home Preview select can perform and Write 1st ad fo ” not just promise! r newspaper Public Open House
  7. 7. MARKETING PLAN OF ACTION Phase I Sample Plan • 5/19/08— Exclusive Windermere Hot Sheet tour for all new Windermere listings. Windermere agents all tour each other’s new listings. Approx 10:30- 12:30 pm • 5/19 or 5/20—Photo session • 5/21/08—Sign listing papers • 5/22/08— Sign goes up • 5/22/08— First day on the market. Make plans to eat out or visit friends after work the first couple days on the market. This will allow easy showing, and less stress for you. • 5/22/08— Broker’s Open Tour. Approx. 12-3 pm • 5/29/08— Second Broker’s Open tour. Approx. 12-2 pm • 6/1/08— Sunday Seattle Times ad runs. First public open house from 1pm— 4pm. You will need to be out of the house during this time The current market in your area will determine the point at which we move to our Phase II Marketing Plan. We need to Phase II constantly monitor the market and make adjustments to reach your ultimate Sample Plan goal—Sell your home • Day 30— Look at market data for area and price range. Preview and tour other homes that buyers would be considering. • Day 32—Make adjustments to price, terms, conditions as determined by market research. • Day 33—Promote adjustments to all agents who have visited home. Post all changes to MLS and web sites. • Day 35— Brokers open house to promote adjustments. • Day 38— Public open house to allow unattached buyers who are enticed by adjustments to see your home easily.
  8. 8. ELEMENTS OF MARKETING Hype, Exposure Listing All marketing is fully in place Flyers within 24 hours of being listed. Few other agents In addition to can promise this Windermere’s level of service. dominant presence in the Sunday paper, there are several other elements to marketing a property.
  9. 9. ELEMENTS OF MARKETING Project an image, Sold Internet Photo Gallery Because most buyers begin their home search online, I post an internet photo gallery for prospective buyers to tour the property from home. I employ a professional photographer to assure high quality images.
  10. 10. COMMUNICATION Weekly Every week, you will receive an activity report with the number of showings, agent web site visits, public web site visits and area Update activity analysis.
  11. 11. COMMUNICATION Weekly Update As part of your weekly update, you will receive a list of all the showings that week.
  12. 12. COMMUNICATION Email is sent immediately Constant Monitoring Sample questionnaire Ask, listen and make adjustments each I follow up with agent after every showing to find out what they and their buyers thought of your home. It is vital to pay attention to what they say. You receive feedback as soon it is received. No waiting, no filtering.
  13. 13. COMMUNICATION Powerful Analysis I utilize all the tools at my disposal to provide you with the best information throughout the home selling process. I employ the power of Google Analytics to evaluate the number of web site visits to your property. This helps us track the effects of adjustments and events.
  14. 14. PURCHASE AND SALE CONTRACT Once we get an offer, I will work with you to negotiate a win/win agreement. I will guide you through the options and the associated risks and consequences of your choices regarding: 1. Price 2. Earnest Money 3. Closing Date 4. Contingencies 5. Time Frames ♦ The highest offered price does not always mean the highest net proceeds in your pocket at closing. It depends on the type of financing and how it is structured. ♦ I am an expert at deciphering offers and explaining the financial impact to you. . ♦ There is an inherent risk in every contract and that is the potential buyer’s ability, or lack thereof, to close the transaction. I takes a firm stance in requiring potential buyers to keep all of the contingency dates as short as possible and provide firm financing. ♦ A sample of a Purchase & Sale Agreement is included for your advance review and familiarity.
  15. 15. Once we reach mutual agreement with a buyer, a lot has to happen in order for the transaction to close smoothly. I worry about everything that needs to happen so you don’t have to…
  16. 16. IS A DISCOUNT REALLY A SAVINGS? 6% Versus 4% 3% selling agent 3% selling agent 3% listing agent 1% listing agent + $ Precision pricing. - $ Inaccessible agent + $ Multiple offers. loses offers. - $ Passive price + $ Back-up offers. negotiation. + $ Work order negotiation. - $ Passive work order + $ Choice of who to negotiation. contract with. - $ Inefficient/ + $ Detailed tracking of incompetent closing. . tracking of closing. Home Sales Price There can be an appearance of a potential savings with a lower brokerage fee. However, the commensurate lower level of service can quickly erode the savings by a reduced eventual sales price ( if in fact a sale is achieved and successfully closed). In this scenario the seller is shortchanging themselves with inadequate representation while fully compensating the buyers agent.
  17. 17. TESTIMONIALS The best way to predict future performance is to look at past performance, so I have included some testimonials from clients I have helped in the past Gretchen Schmidt did a great job educating us on the process. She communicated frequently via email/phone to inform us how the house/loan was going and what was coming next. Gretchen is very professional and we were extremely happy with how smooth the home buying process went, especially because we were coming from out of state. - Ed & Victoria Sorenson A+ Very professional. Gretchen took the time to learn exactly what I was looking for in a home purchase and followed through. - Brian Albee Thank you for all of your help and support during this exciting, yet nerve- wracking experience. I really appreciated knowing that you were available to answer my questions and calm my fears. Thanks for everything! - Camilla F. Gretchen Schmidt did an outstanding job for me—both in selling my condo and in getting me in my new condo! - Dianne H.
  18. 18. WHAT DO I DO NEXT? Finish interviewing agents. Choose the agent who is the best match for you. Remember, the most important part of choosing an agent is to pick someone with whom you are comfortable, whom you feel will represent you strongly with integrity. I’d love to work with you, however, I want you to have the best match for you. Your Homework: Complete a Client Profile, if we didn’t already complete it at our meeting. Help me know your home by completing the “What Makes Your Home Special” worksheet Complete a Seller’s Property Disclosure Have a mortgage statement handy Gather HOA information (if applicable): HOA president contact information HOA management contact information Dues and assessments 2 copies of keys for the front door 10 reasons to work with me: 1. Increase your odds of selling 2. Increase your odds of closing on time 3. High performance team 4. Systematic action plan—everything gets done, on time 5. Increase exposure through precision marketing 6. Attract more internet buyers 7. Regular communication—you never wonder what is happening 8. Powerful negotiation on your behalf 9. Guaranteed service—you can fire me any time 10. You can talk to me for the rest of your life