Preparing Your Home for Sale | Bill Oliver

PREPARING FOR

A SUCCESSFUL SALE

BRIX REAL ESTATE BRIX was founded on one key principle: to ensure that our clients get the very best we have to offer, and that their interests are ethically and fairly served.

BRIX listings sell in an average of 18 days.

The MLS average is 47 days.

BRIX listings sell for 13% more than the MLS average.

BRIX believes that because life is complicated, selling your home shouldn’t be.

PREPARING FOR A SUCCESSFUL SALE BRIX Real Estate agents have sold thousands of homes in Minneapolis-St. Paul. This guide shares their best advice on how to: Understand today’s buyers Price your home Make the right repairs and improvements

Stage and present your home Aggressively market to attract buyers Negotiate for the best price and terms Best manage contract to close

WHAT DO BUYERS WANT?

PRICE In a seller’s market, buyers want to know they are getting a fair price. In a buyer’s market, buyers usually want to know they’re getting a “deal”.

CONDITION Buyers want a house that is clean, in good repair, and doesn’t need extensive investment from the moment of purchase.

BEST CHOICE Home buyers want what they want. They are comparing your house to every other house they’ve ever seen online and in person.

WHAT DO BUYERS WANT?

LOCATION Many buyers choose a town, neighborhood, or building first, and then an individual home. Your house needs to be a great choice in its existing location, not a great deal compared to some other place.

GOOD EXPERIENCE Most home buyers are excited about the next stage of their life and many want to “be in love� with their next home.

SMOOTH TRANSACTION Most buyers and their agents want the purchase to be as painless and stress-free as possible.

PRICE YOUR HOUSE

THE FUNDAMENTALS

MARKET ANALYSIS

In preparing your house for sale, there is no more important decision you will make than the listing price.

We carefully prepare a Comparative Market Analysis (CMA) which uses MLS data on active, sold, and expired listings in your area.

When properly priced, a home should draw an offer within the first 12 showings. The first 30 days your home is on the market is critical and usually generates your best offer.

Price too high and your house will sit on the market. Price too low and you’ll leave money on the table.

ZILLOW uses publicly available data to create a “Zestimate.” It is a starting point in determining a home's value and is not an official appraisal.

FUN FACT: In 2016 the Zillow CEO sold his home for 40% below the Zestimate.

PRICE YOUR HOUSE

UNDERSTAND MARKET VALUE

ANALYZE THE COMPETITION

Pricing your home accurately is the most effective way to ensure a successful sale.

Your house will compete with all the other houses on the market on both features and price.

Many sellers are tempted to list their home with the agent who quotes the highest price and delivers the best news about how easy it will sell.

The agent doesn’t set the price, the seller doesn’t set the price, the market will set the price for your house.

If your house has more features that appeal to buyers - or is priced lower than comparable homes - your house will stand out as the better value.

If your house lacks the features that potential buyers desire, your only option is to compete on price.

CONDITION

Discovering and repairing problems before you list your home puts you in control.

Having your house in move-in condition shows buyers, agents and the buyer’s home inspector that your house has been wellmaintained.

To obtain the highest price for your home, you need to invest in making your house more competitive, not just prettier.

While getting your home into selling shape, start with the three R’s: Refresh, Repair, and Replace.

CONDITION: REFRESH

FRESH PAINT Buyers want to see rooms they can quickly make their own. Pay special attention to scuffed and dented baseboards, window trim and sills.

WALLPAPER Wall coverings come in and out of style and may need to be removed prior to listing.

FLOORING Hardwood floors should be cleaned and, if necessary, screened or sanded and refinished. Carpets and rugs in good condition should be steam cleaned.

Tile grout should be in good repair and cleaned.

CONDITION: REPAIR

PLUMBING Tighten leaky faucets and check the lines leading to your dishwasher and washing machine.

ELECTRICAL Repair any faulty problem sockets, or switches.

wiring,

MECHANICALS Inspect and clean your furnace, AC, and hot water heater.

ROOF A worn-out roof will scare buyers away. Hire a roofer to replace any missing shingles or roofing tiles, and nail down loose flashing.

CONDITION: REPLACE

LESS EXPENSIVE TO REPLACE Light fixtures Faucets Door and window hardware Cabinet knobs MORE EXPENSIVE TO REPLACE Countertops Appliances Carpet Windows Roof and siding Decks and patios

PRESENTING YOUR HOUSE

HGTV GENERATION Realistic or not, today’s buyers — in all price points — expect nearly perfect properties.

INTERNET SHOPPERS Today’s buyers start their home search online 18 months before they actually purchase. They will compare hundreds of these homes to yours.

COMPELLING We want to show your house’s best features and help buyers to visualize how they would enjoy living there.

PRESENTING YOUR HOUSE OUR GOALS We start by creating a great online experience so that well-prepared potential buyers will schedule an in-person showing.

We want the showing to be a great experience so that the buyer can best envision what it’s like to live in the house.

The house needs to be light and bright, and feel comfortable and inviting.

We work with you to make rooms express their intended use. It can be confusing to a buyer to see a pool table in the dining room!

STAGING BE COMPETITIVE Some agents call themselves stagers because they like arranging furniture and making a room pretty.

But the agents at BRIX Real Estate stage homes based on their experience with representing buyers and sellers in our market.

Home staging is not decorating. Decorating appeals to the person living in the house; staging is positioning the home to create an emotional connection to potential buyers.

STAGING DECLUTTER Remove unnecessary furniture Create easy-to-navigate walkways Remove highly personal decorations Pack toys, sports equipment seasonal decorations into bins

and

Closets should be only half full and floors should be visible Basement, attic and garage should be clean and organized

STAGING CLEAN Thoroughly clean the entire house.

Steam clean carpets and drapes Clean inside of cabinets, refrigerator and freezer Clean light fixtures and ceiling fans Wipe down walls, baseboards, window and door trim Wash windows and skylights, inside and outside

STAGING TIPS AND TWEAKS Select fewer rather than more pieces of artwork to display Make sure there is lighting in every room that is turned on by easily seen switches Put the same light bulbs in fixtures near each other, especially in can lights Remove small, unmatched rugs that are easy to trip over and distracting Remove small, personal, “kick-knack” items from adults’ scrutiny and kids’ reach

PRESENTING YOUR HOUSE OUTDOORS Power wash siding, patios, decks, sheds Hose off furniture, playset, birdbaths, pots

Repair cracks in walkways and driveway Handrails must be sturdy Clean gutters and down spouts Trim shrubs and trees Trim and edge lawns, and regularly mow Put fresh mulch in garden areas Declutter play areas

PRESENTING YOUR HOUSE OUTDOORS Create a welcoming entry way but don’t overdo decorations Door hardware must be easy to use Front porch light should always be on, or on a sensor or timer Put an attractive and useful doormat in entry way Plant/replant pots with fresh flowers Update entertaining areas with colorful chair cushions and a new patio umbrella

CUSTOM MARKETING PLAN

PRE-LISTING Competitive analysis Pricing Prepare the house Stage the house Professional photos Marketing preparation ‘Coming Soon’ on Zillow

CUSTOM MARKETING PLAN

LISTING LAUNCH Syndicate listing to 500+ sites Facebook and Instagram posts Brochures in house Reverse prospecting Email announcement to BRIX clients ‘Just Listed’ mailings and emails Review and report showing feedback

PHOTOGRAPHY PROFESSIONAL, ALWAYS BRIX Real Estate provides best-in-class professional photography from leading real estate photography services.

Home buyers have short attention spans, therefore, the best way to make a listing stand out in the internet clutter is with professional photos.

Photos are the potential buyer’s first interaction with the house. Photos are the beginning of a great showing experience.

INTERNET MARKETING

LISTING SYNDICATION is just a fancy term for the way listings are published to hundreds of sites around the Internet.

Once a listing is entered into the MLS, we use carefully controlled process to make sure that the listing information about your house is speedily sent onto the most trafficked real estate sites like Zillow, Trulia, and Realtor.com We regularly check our listings to make sure that the information and photos are the most up-to-date.

ON THE MARKET

SHOWINGS We use a showing service to schedule showings. You can decide how much advance notice you’d like to get ready for the showing, but two hours notice is typical. Your agent is automatically notified when a showing request is made and when you have accepted and confirmed it.

FEEDBACK We send requests for feedback after the showing and immediately send it to you when we receive it. When a buyer agent doesn’t respond to requests for feedback this is usually a sign that their client is not interested in your house.

SHOWING YOUR HOUSE

TIDY Have a plan to quickly hide day to day clutter when you’re notified of a showing.

PETS Dogs should never be loose in the house and should be crated or removed for a showing. Litter boxes and small animal cages must be kept clean.

SMELLS GOOD Candles and air fresheners can’t hide strong odors so try to air out the house before a showing.

TEMPERATURE Ensure the temperature is perfect for the showing. Buyers quickly leave houses that are too hot or too cold.

NEGOTIATING WITH BUYERS

PLAN AHEAD Everyone involved in the sale should communicate what is most important to them for accepting an offer.

ALL TERMS An offer is more than the price. You must also negotiate closing date, finance terms, and inspection contingencies. It’s especially important to know if the buyer has another home to sell.

CHECK THE PRE-APPROVAL We always check with the buyer’s lender before completing the negotiation.

CASH OFFER We ask for proof of funds to prove that the buyer has accessible funds to close.

FULL PRICE OFFER Some buyers will try to win a house with a great offer, but then ask for a lot of repairs during the inspection. Be cautious.

LOW OFFER Don’t get upset or discouraged by buyers who “fish.” Negotiate in good faith until you’re sure you can’t get a deal together.

NEGOTIATING WITH BUYERS

HANDLING MULTIPLE OFFERS

SELECTING THE BEST OFFER

Keep up-to-date on the market so that you can act quickly and decisively to negotiate the best deal.

It’s tempting to jump on the offer with the highest price, but that may not be the best one overall. We will help you analyze and select offer that best meets your needs by considering:

Your agent will help you decide the best way to respond at the time of multiple offers: you can negotiate one at a time or ask for ‘best and final’ for all offers at once.

Try to remain objective if one of the potential buyers tugs at your heartstrings by sending a heartfelt letter or a family photo.

Offer price Earnest money Finance terms Inspection contingencies Closing date Home to close or sell Special requests

SMOOTH TRANSACTION CONTRACT TO CLOSE We work as a team to deliver the best overall service possible, but the managing the sale of your house is always the responsibility of your agent.

We meet the appraiser and, sometimes, inspectors and service people. You may want to keep showing the house until all contingencies are removed.

We stay in close contact with the buyer agent and the lender until we are sure that all contingencies are released and that the closing is on schedule.

WHAT’S NEXT?

When we meet with you we will do a walkthrough of your house to begin preparing your house for listing.

We will customize our marketing plan for your home to get the most money in the quickest time possible.

We will present relevant comparable listings and an analysis to help you decide the best possible price.

We’ll sign our Exclusive Marketing Agreement and move forward to getting your house sold!

BILL OLIVER REALTOR, GRI, E-PRO I was born and raised in Rochester Minnesota, a graduate of the University of Minnesota and have resided in Minnetonka and Minneapolis for the past 30+ years.

Working as a full time real estate agent for the past 7 years my focus is on education, communication, representation, house presentation and strong negotiation skills, while ensuring your interests always come first. Buying your next home or selling your current one are some of the most important financial transactions you will never make.

My goal is to help you attain the best price and terms with the least amount of hassle! – Bill billoliversells@gmail.com (612) 708-0020 https://oliverrealtysolutions.com/

BRIX REAL ESTATE We created BRIX Real Estate to change the face of real estate in the Twin Cities. We have proudly created a brokerage that clients and agents love to work with.

Listing and selling a home is an honor that we never take lightly. We promise to handle every detail of selling your home with precision, care and the personalized attention that you deserve.

BRIX REAL ESTATE 748 North 3rd Street Suite #100 Minneapolis, MN 55401 612.927.2749

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