Redfin Home Selling Classeverything you need to know in today’s market.

August 26, 2014; Seattle, WA

Presented by: Ruby Manueland Kerri DonovanRedfin Listings NW North Team

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

Agenda●WHO is Redfin?●Understanding the Market●Selling Process●Pricing Strategies●How To Get Your Home

Ready to Sell●Curb Appeal and Staging●Repairs & Updates●THE Redfin Difference●Marketing Your Home ●The Selling Process-

Revisited

Questions?

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 friend.

● Customers, not commissions● Informed decisions● Right home for the right price

No obligation 1.5% Commission Or $5,500**VS Traditional 3%

Redfin Listings NW North Team

Kate Gorecki Bryan HaynesLucretia Lease Listing Coordinators/Co-Listing Agents

Understanding the Market

University District Inventory

University District Home Prices

University District Area Overview

The Selling Process

Sell Your Home Faster and for

More Money1. Know the Process: Knowledge puts you in the Driver’s 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!

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

Pricing StrategiesWhat 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

How to Get Your Home Ready to Sell

Curb Appeal

Front Door● The first impression of the house● Clean!● Nice hardware on door goes a long way● Clean/updated hardware - spend $100 on updated

locks

Porch● 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

Paint● 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

The Backyard● Power wash patios/deck● Furniture

► Buyers will sit► Borrow from a friend► Bright pillows

● Trim back large bushes – makes yard appear bigger● Fence

► Paint/re-stain► Make sure gates work

Repairs and Updates

EntrywayUsually 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!

Kitchen Floors: Tile● Tile = 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!

Kitchen 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.

Baths: 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:

Staging & Perfect Pictures

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 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:

Redfin 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.

3D Tours!● Launched August 21, 2014● http://www.redfin.com/WA/Mercer-Island/5310-90th-A

ve-SE-98040/home/256168#3d

Marketing Your Home

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► 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

Marketing Blitz

#1 Brokerage Website

Twice as many people see your home on Redfin.com

Marketing BlitzPotential buyers see your home on the web

Selling Your Home-Recap

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 / $$$

Thanks for Coming!Questions? Get in touch:

Kerri Donovan – kerri.donovan@redfin.comRuby Manuel – ruby.manuel@redfin.com

Check out our upcoming classes: http://www.redfin.com/events