Listing and Marketing Consultation for Diane and Joe Schreiber 415 Callippe, Brisbane
Overview of Selling Process 1. 2. 3. 4. 5. 6. 7. 8.
Selecting the Right Agent Getting Your Home Ready - Staging Filling Out the Paperwork - Disclosures Selecting the Right Price - CMA Obtaining the Inspections Marketing Your Home Selling Your Home Closing Your Home
Understanding The Principles • The Consultant’s Role • Key Objectives and Goals • Sources of Buyers • Marketing • Controlling Factors •Preparing for the Offer •Processing the Sale • Pricing Factors
My Negotiating Principles and Philosophy • Win-Win Negotiating • Integrity, Honesty, and Trust • Communicating Constantly • Creativity in Marketing • Teamwork with my Clients and Colleagues • Success through Results • Commitment in all Efforts
Consultant’s Role A Fiduciary - Consultant • Advises and Consults • Educates and Guides • Involved in Decision Process • Uses Judgment and Experience • Irreplaceable • Highly Compensated
My Biography Real Estate Broker/Owner Professional Designations: Certified Residential Specialist (CRS) Accredited Buyer Representative (ABR) Certified Internet Professional (ePRO) Senior Real Estate Specialist (SRES)
Insert Your Photo
Education: BA in Chemistry and MBA in Finance Languages: English, French, Egyptian
Family: Married 26 years with three kids Hobbies: Reading, Music, Dancing, Golf, Tennis, Gourmet Cooking Client Testimonials: Under separate Cover Professional Affiliations: Exec Board BBB Golden State - Former Chair SM BBB Companies Associated With in Real Estate: Skyline Realty, Bankers Real Estate Fox & Carskadon, RE/MAX, Keller Williams â€“ 22+ years of Peninsula Experience
Key Objectives • PRICING… your home at the property’s fair market value. • TIMING… in the desired time period. • CONVENIENCE… selling your home with the least amount of inconvenience.
Sources of Buyers FOR SALE Signs
Open Houses 8% Advertising & Newspapers 7%
Corporate Relocation 3%
Internet 14% Compiled from national surveys whose data is believed to be accurate.
Marketing Plan • Consumer Facing • Multiple Internet Websites • Mlslistings.com • Realtor.com • Move2ca.com • Property Website • Yard Signs • Craigslist.com • Social Networks • REALTOR® Facing • MLS • REALTOR® Open Houses • Email Blast • REALTOR Networking • Agent Marketing Action Plan (to follow)
Personalized Marketing Plan
Help you Price your Home Competitively to promote the Best offers For Sale Sign Keysafe for Easy Access Broker Open House Color Brochure for Agents and Consumer with multiple photographs 800 Number Tracking on For Sale Sign Brochure Targeted Postcards to Neighbors Targeted Postcards to Selected Homes with Potential Buyers Public Open House to Increase Exposure Property Dedicated Website with Web Tour to increase exposure Complete Set of Disclosures and Reports to Facilitate Purchase Exposure on the World Wide Web - Realtor.com - move2ca.com - MLSlistings.com - REIL.com - samiamorgan.com Follow Through on all showings and property condition Provide you with feedback on showings Help you negotiate the best terms and price to fit your needs and timing
Marketing Your Home Our Respective Duties
• • • • • • • • •
Input your listing to MLS. Install For Sale Sign Provide information brochure Pricing Guidance. Prepare Marketing. Hold Broker Open House. Give Feedback on showings. Review contracts and represent you in negotiations. Guidance in staging your property.
Client • • • •
Complete all repairs and cleaning.
• • • •
Call me if information is depleted.
Refuse to discuss terms with prospective buyers or their agents.
“Stage” your home to be appealing. Hide valuables (also prescriptions). Keep marketing information out for prospective buyers. Leave premises for showings. Call me with any questions. Refer friends and acquaintances who might be interested in your property.
What You Do & Don’t Control Seller Controls: • Property Condition • Availability for Showing • Price Seller Doesn’t Control: • Competition • Buyer’s or Seller’s Market • Interest Rates • When The Perfect Buyer Walks Thru Door
Home Warranty Plans Home warranty plans go a long way to alleviate some risks and concerns. For a modest price, the seller can provide to the buyer a one year warranty covering specified heating, plumbing, electrical, water heater or appliance breakdowns. Coverage under most plans commences at closing. In all cases, there are important limitations and exclusions (example: appliances/systems must be operative at commencement of coverage).
Selling Price Vs. Timing A C T I V I T Y 1
WEEKS ON MARKET
Timing is extremely important in the real estate market.
It has the greatest opportunity to sell when it is new on the market.
A property attracts the most activity from the real estate community and potential buyers when it is first listed.
Preparing For The Offer In slow economic times, offers to purchase routinely come in “low” whereas in healthy economic times, offers are closer to the asking price. Do not be offended by any offer received. Be offended by buyers who tour your property and don’t submit an offer.
ACCEPTANCE. Signed by all parties, dated, delivered… congratulations, you’re on your way to having your property sold!
REJECTION. Unconditional… unfortunately, your home is still on the market.
COUNTER OFFER. Any change to the contract constitutes a counter offer. You are now in the renegotiation stage.
NO ACTION. Equals rejection. Your home is still on the market.
Our Service Process
Home Selling Process BEGIN PROCESS
MARKET RESEARCH LISTING SIGNED OFFICE
OFFICE TOUR MLS COMPUTER
BROKER’S TOUR MLS MEMBERS
CONTACT PROSPECTS SHOWINGS OPEN HOUSE OFFER RECEIVED OFFER
Inspections Inspections and potential repairs are the number one reason sales don’t close. Typically, buyers have a certain number of days in which to inspect the property and accept or reject the property based upon these mechanical and structural inspections. SELLER SEES THEIR HOUSE
BUYER SEES YOUR HOUSE
INSPECTOR SEES THE HOUSE
Save Yourself Time, Money and Disappointment — Do Deferred Maintenance Now!
Contract To Close TRANSACTION PROCESSING PROCESSING REJECTION
MORTGAGE CO. UNDERWRITING LOAN APPROVAL TITLE CO. ASSEMBLE PAPERS SETTLEMENT HOME SOLD
Points to Remember About Pricing In order to get the home sold fast, you must price it right to sell in 30 days. •
In a buyer’s market, real estate becomes a commodity
Always tell the truth on price, no matter how uncomfortable
80% of marketing is price
Law of Supply and Demand
Definition of Value: More for the same, the same for less
Pricing Factors IMPORTANCE OF INTELLIGENT PRICING +15%
+10% Market Value -10% -15%
PERCENTAGE OF BUYERS
30% 60% 75%
As the triangle graph illustrates, more buyers purchase their properties at market value than above market value. If you price your property at market value, you are exposing it to a much greater percentage of prospective buyers and you are increasing your opportunity for a sale.
Pricing Misconceptions It is very important to price your property at competitive market value at the signing of the listing agreement. Historically, your first offer is usually your best offer. WHAT YOU PAID
WHAT YOU NEED
WHAT YOU WANT
WHAT YOUR NEIGHBOR SAYS
WHAT ANOTHER AGENT SAYS
COST TO REBUILD TODAY
Buyers & Sellers Determine Value The value of your property is determined by what a BUYER is willing to pay and a SELLER is willing to accept in todayâ€™s market. Buyers make their pricing decision based on comparing your property to other property SOLD in your area.
Competitive Market Analysis • Recent Sales • Current Listings = Competition • Expired Listings = What has not sold
Listing Sale Statistics 2003 Samia’s Record
SP to LP ratio – 101.25% DOM – Days on Market – 23 Average for San Mateo County SP to LP ratio – 98.37% DOM – 46
Listing Sale Statistics 2004
Samia’s Record SP to LP ratio – 107.0% DOM – Days on Market – 8.56 Average for San Mateo County SP to LP ratio – 101.78% DOM – 29.88
Listing Sale Statistics 2005 Samia’s Record SP to LP ratio – 113.35% DOM – Days on Market – 9.33 Average for San Mateo County SP to LP ratio – 102.27% DOM – 27
Listing Sale Statistics 2006 Samia’s Record SP to LP ratio – 98.33% DOM – Days on Market – 17 Average for San Mateo County SP to LP ratio – 99.58% DOM – 34
Listing Sale Statistics 2007 Samia’s Record SP to LP ratio – 109.66% DOM – Days on Market – 11 Average for San Mateo County SP to LP ratio – 99.49% DOM – 41
Listing Sale Statistics 2008 Samia’s Record SP to LP ratio – 100.13% DOM – Days on Market – 22 Average for San Mateo County SP to LP ratio – 98.40% DOM – 48
Focusing On Results The proper balance of these factors will expedite your sale.
LOCATION COMPETITION TIMING
CONDITION TERMS PRICE