Published on April 25, 2014
Redfin Home Selling Class Everything you need to know in today’s market. April 24, 2014 – Sacramento, CA Presented by: Chris Medina Follow: @Redfin Like: http://www.facebook.com/Redfin
Meet Redfin’s Roseville – Folsom Team Cecilia Gomez -Prado
Agenda ● Intro to Redfin ● Understanding the Market ● The Selling Process ● Pricing Strategies ● Marketing your home ● Repairs & updates ● Staging & perfect pictures ● Questions? ● Thanks!
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. ● 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 ($$)
Understanding the Market
Sacramento Home Prices
Sacramento Area Overview
We’ve Recently Closed 82 Deals Nearby • 4,676 people are looking at homes in Sacramento on Redfin right now! • 343 people have toured homes with Redfin Agents in the area in the past 6 months
The Selling Process
The Selling Process ● Decide on selling ● Meet with an Agent ● Stage and prepare your Home (Open Book referrals) ● Photograph your home ● Take it live! ● Get an offer & expert help in negotiating = Signed Contract ● Work as a Team through the Inspection & Appraisal process ● Signing / Funding / $$$
Pricing: An Art & Science ● Consider the current economic factors ► Housing market ► Mortgage rates ► Employment & other Economic factors ● Consider ► Location-Competition-Timing-Condition-Price ► 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
Pricing Strategies 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.
How to Get Your Home Ready to Sell
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
Entryway 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 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.
Kitchen As you have probably heard, kitchens & bathrooms sell homes!
Kitchen Floors: Tile ● Tile = good shape, Grout = 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
Baths This 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:
Baths ● 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.
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 ► 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 ● 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 faster too Data Quality Redfin Trulia Zillow % of Agents – Listed Homes Available 100% 81% 79% Median Days to Publish a New Listing 0 9 7 % of Published Listings No Longer for Sale 0.1% 37% 36%
Marketing Blitz #1 Brokerage Website Twice as many people see your home on Redfin.com
Thanks for Coming! Questions? Get in touch: Chris Medina firstname.lastname@example.org Contact Number: (916)-802-8872 Check out our upcoming classes: http://www.redfin.com/events
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