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Redfin Home Selling Class - University District, WA

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Redfin Home Selling Classeverything you need to know in todays market.August 26, 2014; Seattle, WA

Presented by: Ruby Manueland Kerri DonovanRedfin Listings NW North Team

Follow: @RedfinLike: http://www.facebook.com/Redfin

1AgendaWHO is Redfin?Understanding the MarketSelling ProcessPricing StrategiesHow To Get Your Home Ready to SellCurb Appeal and StagingRepairs & UpdatesTHE Redfin DifferenceMarketing Your Home The Selling Process-RevisitedQuestions?

A Little Bit About Who We AreRedfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend.

Customers, not commissionsInformed decisionsRight home for the right price

No obligation1.5% Commission Or $5,500**VS Traditional 3%

Redfin Listings NW North TeamKate Gorecki Bryan HaynesLucretia Lease Listing Coordinators/Co-Listing Agents

4Understanding the MarketUniversity District Inventory

[REQUIRED Updated every time]6University District Home Prices

[REQUIRED Updated every time]7University District Area Overview

[REQUIRED Updated every time]8The Selling ProcessSell Your Home Faster and for More MoneyKnow the Process: Knowledge puts you in the Drivers Seat

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!

10Comparative Market AnalysisWhat 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 levelBusiness style Underlying Strategy

(show pre-done CMA from MRIS, pulled in advance, include summary with photos of comps, and summary detail at a minimum)

11Pricing StrategiesWhat if we over price?Fewer Buyers see your house More days on market can elicit suspicionNeed price - reduction planHope: One Buyer pays the higher priceRisk: Appraisal concerns

What if we under price?Elicit Market InterestMore buyers see your house = more potential offersSold more quicklyHope: More than 1 BuyerRisk: Timing works against you & only 1 Buyer makes an offer

12How to Get Your Home Ready to SellCurb AppealFront DoorThe first impression of the houseClean!Nice hardware on door goes a long wayClean/updated hardware - spend $100 on updated locks

PorchDont put a lot on itA place for people to sit1 or 2 great decorative piecesGrill make sure its clean!Porch lightsMake sure they workBuy new ones Great touch for under $50

PaintThings to consider:How much light the home getsWhat color the neighbors home is paintedSpecific to style (modern vs. craftsman)

Contrasting colors - Light trim/solid color

Painting door an appealing color

Driveways and PadsKill weedsCut branches and bushes back Shovel driveway in winterHide garbage cansPower wash driveway and walkway

The BackyardPower wash patios/deckFurniture Buyers will sitBorrow from a friendBright pillows

Trim back large bushes makes yard appear biggerFencePaint/re-stainMake sure gates work

Repairs and UpdatesEntrywayUsually the 1st and last thing a potential buyer seeswhen 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 big impact.Is the light fixture in need of being replaced? Adequate light is important; makes the entryway feel more open and inviting.Does the area have proper storage (are things piled up and stuffed in corners)?Not necessarily on the cheaper end of updates, but a built-in storage area can be a big plus.

KitchenAs you have probably heard, kitchens & bathrooms sell homes!

New photo!Kitchen Floors: TileTile = good shape, Grount = not!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 grout. 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!

New photoKitchen Counters and Cabinets Backsplash:A tile backsplash can make for a nice upgrade from just wall paint between your countertops and cabinets

Cabinets: Often are in good shape but show normal signs of wear from daily use.Painting cabinets = inexpensive alternative to replacing them. Re-facing

BathsThis is the second place that people are going to really focus on.

26new photoBaths: Floor Floors: Basically the same idea as the kitchen: either clean or re-grout.New tile installation can also make a big impact in any bathroom.

Before: After:

new photos

Staging & Perfect PicturesTips for Staging Your HouseDe-clutter! De-clutter! De-clutter!Get rid of ALL smells (even the ones you like!)Get the dust and film off of everythingWash windows Inside & OutMake all beds & add throw pillows to couchesNew fixtures and drapes in the bathroom or kitchenNeutral colors

The Importance of StagingYour 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 StagingYour 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 and CostFor an Unoccupied Property: Staging generally takes 2 days Stagers make recommendations for improvements and maintenance Stagers bring in all furniture, rugs, lamps, window treatments, art and accessories

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

Before:

After:

Before:

After:

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 Redfin ListingsSee The DIFFERENCE When Listing With REDFIN What We Offer: Professional HD Photography at our Cost. See the Difference in the quality of our photos vs the competition.

The Difference:

3D Tours!Launched August 21, 2014http://www.redfin.com/WA/Mercer-Island/5310-90th-Ave-SE-98040/home/256168#3d

Marketing Your HomeListing with RedfinMore People See your Home Redfin.com is the #1 used RE search site in the USYour listing gets Premiere placement on Redfin.comMobile app target On-the-Go BuyersStunning Get Noticed Flyers

Youll Know It All at Every StepYoull have a whole Team on your side Link to show how many people have viewed your homeAdvise you at every step in the process45

Marketing Blitz

#1 Brokerage Website

Twice as many people see your home on Redfin.comTalking point: Redfin.com is the most-visited brokerage website in the markets we serve, over 5 million monthly visitors nationwide46Marketing Blitz

Potential buyers see your home on the web

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.

47Selling Your Home-Recap

The Selling ProcessDecide 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 / $$$

Thanks for Coming!Questions? Get in touch:Kerri Donovan [email protected] Manuel [email protected]

Check out our upcoming classes: http://www.redfin.com/eventsWell stick around 50Redfin Listing Concierge

Detailed recommendations for staging, landscaping, cleaning, and repairs to broaden the appeal of your home to the largest pool of buyers.

Streamlined access to our preferred service providers. We know the best of the best, and take care of scheduling and coordinating the work for you.

Funds for home improvements. We invest in your listing by covering some of the cost of the services we recommend most.

A professional listing photo shoot to make your home look its very best.

Exclusive ServiceRedfin Listing Concierge service is exclusive and complimentary when you list your home with Redfin.

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