North Pointe office of Berkshire Hathaway HomeServices Homesale Realty's bi-monthly sales meeting covering the following topics: 1. 2nd quarter sales results, 2. Lancaster County market share, 3. Guides to buyer and seller closing costs, 4. Homesale listing presentations, 5. How to deal with a low real estate appraisal.

1. REAL ESTATE’S FOREVER BRAND
SM
NORTH POINTE
MEETING
05 August 2020

2. Real Estate License Renewal
August 29, 2020
6 August 2020 2

3. Berkshire Hathaway HomeServices Sales Convention
Location: Caesars Forum, Las Vegas
Dates: March 21-23, 2021
6 August 2020 3
LIVE ‘Early Bird’ Bulk Registration - $385 (Deadline: Monday, August 10, 2020)
VIRTUAL Registration - $475

4. Berkshire Hathaway HomeServices Sales Convention
6 August 2020 4
https://youtu.be/pm-epelmeAk

5. 6 August 2020 5

6. Lancaster County Market Share (January 1 – June 30, 2020)
$296,859,365
Coldwell Banker Residential Brokerage
Kingsway Realty
Keller Williams Elite
RE/MAX Pinnacle
Iron Valley Real Estate of Lancaster
Lusk & Assocs. Sotheby’s International Realty
Realty ONE Group Unlimited
Weichert Realtors – Welcome Home
Younger Realty Group
$104,767,535
$58,991,081
$57,312,758
$56,568,054
$39,830,095
$38,200,470
$37,458,198
$24,273,742
$17,728,643
$100,000,000 $200,000,000 $300,000,000-0-
DISCLAIMER: Based on information from the Bright MLS for all residential property located in Lancaster County, PA, for the
period January 1 – June 30, 2020. Data may not reflect all activity within the geographic marketplace.

7. Listing Contract Start Date
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 ‘Coming Soon’ and ‘Broker Exclusive’
have nothing to do with ‘Start Date’

8. GUIDES TO BUYER AND
SELLER CLOSING COSTS
Current estimated costs to assist in filling out cost sheets
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9. Requirement to Remain Compliant
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 §35.334 of the Rules and Regulations of the Pennsylvania State Real
Estate Commission states the following:
Before an agreement of sale is executed, the brokers involved in the
transaction shall provide each party with a written estimate of
reasonably foreseeable expenses associated with the sale that the party
may be expected to pay, including, but not limited to: the broker’s
commission, the mortgage payments and financing costs, taxes and
assessments, and settlement expenses. The estimate of costs shall be as
accurate as may be reasonably expected of a person having knowledge
of, and experience in, real estate sales.

10. Guides to Buyer and Seller Closing Costs
6 August 2020 10

11. LISTING PRESENTATIONS
Putting your best foot forward
6 August 2020 11

12. Homesale Listing Presentation Choices
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13. Digital Presentations Via Web Browser
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 How to Access
 Residential: homesale.com/HomeMarketingStrrategy
 Luxury: homesale.com/LuxuryHomeMarketingStrategy
 New Homes: homesale.com/NewHomeMarketingStrategy
 All: homesale.com/HomeMarketingStrategies

14. Digital Presentations Via Web Browser
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 Benefits
 View from any device with internet access
 Flip through to the pages needed
 Post on social media with the link or embed on your agent website

15. Downloadable Presentations
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 How to Access
 Log onto HomesaleCenter.com
 Scroll to ‘Tools & Marketing Resources’
 Click ‘Listing Presentation’ Icon

16. Downloadable Presentations
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 Benefits
 Built with MS PowerPoint
 Able to customize
 Easy use for display on tablet
 Also available as a PDF

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 How to Access
 Log onto HomesaleCenter.com
 Scroll to ‘Tools & Marketing Resources’
 Click ‘Cloud CMA’ Icon

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 Benefits
 Homesale covers the cost of access
 Integrates with Bright MLS
 Interactive mobile presentations
 Customize the order of pages
 Includes agent info
 Can create templates
 Create and send a CMA from phone or
other device

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 Pulling Comps from Bright MLS
 From the listing, click ‘Cloud CMA’
button to pull comps over to the listing
presentation
-OR-
 Once you click ‘Create New Report’ in
Cloud CMA, add the MLS numbers in
the ‘By MLS Numbers’ field

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 Add/Remove/Rearrange Pages
 Preview pages by clicking the gray eye
 Remove pages by clicking the red minus sign
 Add pages by clicking the green plus sign
 Rearrange pages by clicking on the page
name & dragging up or down

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 Adding Custom Pages
 Go to photo or initials icon in top right >
Account Settings > Custom Pages
 Add a Page Title and click the
‘Add’ button to create/edit content
in the program
-OR-
 Upload a PDF from your computer

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 Create Your Own Template
 Once you have customized the
presentation, you can save the
presentation as a template
 Click on ‘Template’
 Click ‘Save as Template’
 Name the template then
click ‘Save”

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https://youtu.be/8JkcTc4zoa0

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 *NEW* Interactive Listing Presentation
 FREE enhancement for all Cloud CMA customers
 100% digital – present on laptop, tablet or stream to tv
 Use ‘Telestrator’ feature to draw on the screen
 Incorporate video

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 Cloud CMA Training Videos
 https://youtu.be/8GUKWGGNupY
 https://youtu.be/WPKf5L79-D4

26. HOW TO DEAL WITH A LOW
APPRAISAL
Know what options exist for your client
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27. Why do low appraisals happen?
 Market Factors
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Foreclosures/Short Sales
Limited Inventory
Few Comparables
Inexperienced Appraiser
Overpriced Property

28. Best Practices for Listing Agents
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 Home prices in Lancaster County have risen more than
12% year-over-year
 The more data you provide the appraiser, the better
chance the property has of appraising

29. Best Practices for Listing Agents
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 Be proactive and provide the following information to the appraiser via email:
• Number of showings you had on the property
• How many offers the seller considered
• Specific comps you would like them to consider
• Upgrades or updates to the property
• Do not assume appraiser will go the extra mile

30. Options When Low Appraisals Happen
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 Buyer can make up the difference in cash
between the appraised value and sale
price
 A low appraisal doesn’t mean the lender
won’t lend – it just means that it will make
a loan based on the LTV ratio agreed to in
the contract
 Buyer might pay some of the seller’s
closing costs if the lender won’t allow
buyer to give cash for the difference
Appraised
Value
$245,000
Sale Price
$250,000

31. Options When Low Appraisals Happen
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 Reduce the price if the value was inflated
 If the buyer walks because the seller won’t
reduce price, there is no guarantee that seller
won’t receive a low appraisal from the 2nd
buyer’s lender
 Putting it back on the market risks wasting
time with the same result
Appraised
Value
$245,000
Sale Price
$250,000

32. Options When Low Appraisals Happen
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 Meeting in the middle might be the best
option
 Seller lowers the price a little – the buyer pays
a little bit in cash
Sale Price
$250,000
Appraised
Value
$245,000

33. Options When Low Appraisals Happen
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 Seller may be able to carry a second mortgage
for the difference
 Make payments to the seller or a lump sum
payment at a later date
(NOTE: Always have an attorney prepare the appropriate documents)
Appraised
Value
$245,000
Sale Price
$250,000

34. Options When Low Appraisals Happen
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 Request a copy of the appraisal report from
the buyer if you’re the seller
 Find out about lender’s dispute practices
 Only the lender can insist upon a second
appraisal and typically only the buyer may
request one which might not be honored
 If you’re the seller offer to pay for the second
appraisal or split the cost

35. Options When Low Appraisals Happen
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 Terminate the transaction
 Seller should be cautious when deciding to throw in the towel and put
the property back on the market
 No guarantee the next appraisal will be any better
(NOTE: FHA appraisals stay with the property for 120 days)

36. 6 August 2020 36
“If I had six hours to chop
down a tree,
I’d spend the first hour
sharpening the ax.”
- Abraham Lincoln
How sharp is your ax?
The best view comes from
the hardest climb

37. Speaker Contact Info
37
Tom Blefko
Associate Broker
REALTOR®
Director of Operations
North Pointe Office
Berkshire Hathaway HomeServices Homesale Realty
Office: (717) 560-9100
Cell: (717) 587-6600
Email: tblefko@homesale.com
6 August 2020