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Redfin Free Home Selling Class

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  • 1. Redfin Home Selling Class everything you need to know in todays market. September 24, 2014 Costa Mesa, CA Presented by: April Armendariz & Vickie Melin Follow: @Redfin Like: http://www.facebook.com/Redfin
  • 2. Agenda Intro to Redfin Understanding the Market The Selling Process Pricing Strategies Marketing your home Repairs & updates Curb appeal Staging & perfect pictures Questions?
  • 3. 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 Commission credit
  • 4. Understanding the Market
  • 5. Tustin Inventory
  • 6. Tustin Home Prices
  • 7. Tustin Area Overview
  • 8. Selling Your Home
  • 9. 7 Secrets to Sell Your Home Faster and for More Money 1. Know 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!
  • 10. The Selling Process
  • 11. 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 / $$$
  • 12. 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
  • 13. 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
  • 14. 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
  • 15. 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.
  • 16. How to Get Your Home Ready to Sell
  • 17. Curb Appeal
  • 18. 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
  • 19. Porch Dont put a lot on it A place for people to sit 1 or 2 great decorative pieces Grill make sure its clean! Porch lights Make sure they work Buy new ones Great touch for under $50
  • 20. Paint Things to consider: How much light the home gets What color the neighbors home is painted Specific to style (modern vs. craftsman) Contrasting colors - Light trim/solid color Painting door an appealing color
  • 21. Driveways and Pads Kill weeds Cut branches and bushes back Shovel driveway in winter Hide garbage cans Power wash driveway and walkway
  • 22. 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
  • 23. Repairs and Updates
  • 24. 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.
  • 25. Kitchen As you have probably heard, kitchens & bathrooms sell homes!
  • 26. 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.
  • 27. 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!
  • 28. 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
  • 29. Baths This is the second place that people are going to really focus on.
  • 30. 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:
  • 31. Staging & Perfect Pictures
  • 32. 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
  • 33. The Importance of Staging Your 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
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