Tracy Ramsay + Partners Selling Guide

SELLING GUIDE

TRACY RAMSAY

THE POWER OF REAL ESTATE I have been passionate about real estate since buying my first investment house over 25 years ago in Duluth, Minnesota. With a Bachelor’s and Master’s Degree in Communication Studies, I knew I’d found my true calling in real estate so I quickly set out to chart a path where I could help others realize their own real estate dreams. Since the beginning I have prided myself on working hard, working smart, and building solid relationships. I have consistently been in the top 1% of the market for the last two decades and have won numerous sales awards.

Whether you are buying, selling, building, or investing, you can trust me to help you achieve your real estate goals.

I know the power of real estate and how it can profoundly affect your life. Real estate may be your home, the center of your universe, or an investment property to provide long-term financial freedom. Let me help you capture this opportunity and live your dreams!

I feel truly blessed to have amazing clients who’ve turned into friends. When I’m not selling real estate, you’ll find me attending one of my kids’ sporting events, visiting one of the area’s many beautiful lakes, or hiking with my adorable rescue dog, Roxy.

218-390-6747 | tracy@tracyramsay.com | 2516 London Road, Duluth, MN 55812 | Licensed Realtor in Minnesota and Wisconsin

OUR MISSION To be the most trusted real estate professionals in the Duluth Metro area.

WE ARE KNOWLEDGEABLE in dynamic market conditions RESPONSIVE to our client’s wants and needs FOCUSED on exceeding expectations CONNECTED with our communities INNOVATIVE by using industry trends to leverage possibilities over limitations FUN because we love what we do and it shows

TRACY RAMSAY Real Estate Professional Lead 218-390-6747 tracy@tracyramsay.com

FRANK ROFFERS Real Estate Professional 952-237-1100 frank.roffers@remax.net

DEENA SHYKES Real Estate Professional 218-464-3369 deenashykes@yahoo.com

ELAINE GABEL Social Media Director 715-501-3408 elainesgabel@gmail.com

TRACY RAMSAY + PARTNERS 218-390-6747 tracyramsay.com RE/MAX RESULTS

LAURA NESS Real Estate Professional 218-213-1096 lauranessduluth@gmail.com

*Licensed in both Minnesota and Wisconsin

RE/MAX National & Global Recognition RE/MAX is the most recognized name in real estate around the world; known and trusted for over four decades

RE/MAX RESULTS Who you work with matters. RE/MAX REsults has a long history of helping buyers & sellers and has a reputation for being the best in the business. The RE/MAX Results franchise serves Minnesota and Wisconsin.

#1 IN THE DULUTH METRO AREA AND SUPERIOR

1,200

SALES EXECUTIVES

40 OFFICE LOCATIONS

27,000

UNITS SOLD

24

TRANSACTIONS PER AGENT

$8 BILLION

CLOSED SALES VOLUME

THE VALUE OF AN AGENT A PROFESSIONAL GUIDE

Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.

HIGH ETHICAL STANDARDS

Every REALTOR® is legally required to adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transactionrelated matters.

OBJECTIVE INFORMATION AND OPINIONS

REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need.

EXCLUSIVE MARKETING POWER

Property doesn’t sell due to advertising alone. A large share of real estate sales comes as the result of a practitioner’s contacts with previous clients, friends, and family.

NEGOTIATION AND CONTRACT EXPERTS

There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows you the flexibility you need to take that next step.

UP-TO-DATE INFORMATION

Most people sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.

THE HOME SELLING PROCESS

STEP 1: PRE-LISTING CHOOSE AN AGENT

•Consultation, Strategy, and Goal Exploration

MARKET ANALYSIS

•Review Market Analysis & Comps Analyze data for neighborhood and property history, compare similar ‘solds’ in the area, and consider market trends/forecast.

ESTABLISH A LIST PRICE

•Lock In Listing Price Pinpoint the perfect price to meet your real estate goals.

SIGN LISTING AGREEMENT

•Review & Sign Listing Documents Confirm partnership and give permission to list your home.

STEP 2: PRE-LISTING MARKETING CAMPAIGN

•Launch Marketing Campaign Kick-start tailored marketing strategy. See ‘Marketing Plan’ for details.

•Install Yard Sign •Go Live on The MLS •Open House & Private Showings

CHOOSE AN OFFER

•Receive and Negotiate Offer(s) •Accept, Sign and Deliver Offer

STEP 3: UNDER CONTRACT HOME INSPECTION

•Licensed Inspector Examines Your Home The offer you accept will most likely be contingent upon inspection. Issues that arise during the inspection can be negotiated if need be.

HOME APPRAISAL

•Confirming the Lending Value Most lenders require an appraisal before approving the purchase.

TITLE COMMITMENT

•Title History Check •Remove Contingencies A title company will address and remove any roadblocks associated with a home’s title.

CLOSING DAY

•Sign Closing Documents

WHERE DO BUYERS COME FROM?

10%

29%

FRIEND OR RELATIVE

REAL ESTATE AGENTS

5%

KNEW THE SELLER DIRECTLY

51%

INTERNET SEARCHES

4%

YARD SIGNS & OPEN HOUSES

1%

1%

NEWSPAPER PRINT ADS

HOME BUILDER OR THEIR AGENT

IDENTIFYING THE TWO TYPES OF BUYERS

FAMILIARITY

Are familiar with the area and have a better understanding of the neighborhoods and amenities.

MOTIVATIONS

May be looking for a new property due to life changes such as starting a family, downsizing or upgrading.

Are most likely motivated by job relocation, retirement or investment purposes.

TIMELINE

Typically have more options, can be more selective, and take their time to find the “perfect home”

May have a shorter timeline for purchasing a property.

PREFERENCES

OUT OF TOWN BUYERS

May have a specific preference for where they want to live, such as being close to family, friends, or neighborhood.

Often have to set aside personal style preferences in order to live in a school district or proximity to work.

NEGOTIATIONS

IN TOWN BUYERS

Often have the advantage of time and local knowledge.

May be willing to pay more and negotiate less due to lack of time and area knowledge.

May not be as knowledgeable about the local real estate market and rely more on a real estate agent’s expertise.

MARKETING PLAN

WHAT’S THE PLAN? This is how we plan on maximizing your home’s exposure to help attract the perfect buyer.

Home Staging Professional Photography/Drone Floor Plan Open Houses and Broker Tours 2 Multiple Listing Services (Lake Superior & Northstar) Network with Local Realtors Listing Syndication Professionally Designed Brochures Engaging Feature Cards Extensive Digital Marketing Signage

MARKETING HOME STAGING ADVICE

Staging is about showcasing an engaging, move-in-ready home that creates an emotional connection with the buyer. Updating décor with on-trend, inviting style—particularly in living rooms, primary bedrooms, kitchens, and dining rooms—can make a memorable impression and not only help your home sell faster, but often for more money than a home that is not staged.

PROFESSIONAL PHOTOGRAPHY

99% of buyers search for houses online. Professional photography showcases the property in its best light, highlighting its unique features and creating a positive first impression. Professional pictures can also give prospective homebuyers a sense of higher value and quality.

FLOOR PLAN

Floor plans have room dimensions and allow online buyers to get a feel for the space and flow of your home, something that can’t always be achieved with photos.

NEIGHBORHOOD SIGNAGE

It may seem like a no-brainer, but something as simple as a “For Sale” sign in the front yard can generate interest in your home. In addition, “Open House” and directional signage can increase viewing traffic and drive-by’s.

OPEN HOUSES AND BROKER TOURS

A picture is worth a thousand words, but nothing compares to seeing a house in person. Open houses are a great way to seal the deal with prospective buyers. While I understand that not every client’s preferences or schedules will allow for an open house event, I am open to discussing what is right for you.

NETWORK WITH LOCAL REALTORS

I maintain an extensive network of agents for the benefit of my clients. I can connect with other real estate representatives and increase interest for your home behind the scenes.

2 MULTIPLE LISTING SERVICES

I am a member of both Lake Superior MLS and NorthStar MLS. Your home will be listed in both MLS Databases and offer maximum exposure to local buyers, and out-of-town buyers in the Twin Cities and Wisconsin.

LISTING SYNDICATION

Your property will be listed on over 900 major property searches sites like REALTOR.com, and Zillow. Your listing will also appear on all local websites belonging to real estate companies participating in broker reciprocity.

PROFESSIONALLY DESIGNED BROCHURES

A printed piece like this works two-fold: It can be used as a mailed marketing piece as well as a takehome item offered at open houses or during showings; sending the buyer home with a reminder of everything there is to love about your listing.

FEATURE CARDS

Every home has unique features that often go unnoticed during showings. With feature cards, this will ensure that no selling point goes unnoticed. I will place tent cards around your home for showings so prospective buyers can get to know your home and what it has to offer.

EXTENSIVE DIGITAL MARKETING

My team and I work diligently to maintain a strong presence on social media. We are constantly monitoring statistics, targeting audiences, and keywords to optimize exposure to our listings. Doing this helps ensure that when we post your home on social media, it’s not simply a post that gets lost in the masses, but a post that catches the attention of the right audience. Scan the QR codes to see our social media presence.

FEEDBACK

I gather constructive feedback from every buyer that tours your home. What did they love? How was the price? Did they notice anything that deterred them from making an offer? I will share feedback with you as it is available and we can make tweaks if necessary

LISTING SYNDICATION Your property will be listed on over 900 major national real estate search websites including REALTOR.com, Zillow, Trulia, and Homes.com. Your listing will also appear on all local websites belonging to real estate companies participating in broker reciprocity.

DIGITAL PRESENCE SOCIAL MEDIA

My team and I work diligently to maintain a strong presence on social media. We are constantly monitoring statistics, targeting audiences, and keywords to optimize exposure to our listings. Doing this helps ensure that when we post your home on social media, it’s not simply a post that gets lost in the masses, but a post that catches the attention of the right audience. Scan the QR codes to see our social media presence.

WEBSITE

YOUTUBE

FACEBOOK

INSTAGRAM

FEATURES •City, Neighborhood and School Maps •Neighborhood photos, descriptions and details •Housing Statistics (micro/neighborhood level) •Events Calendar •Local Offerings •Extensive Resource Directory (highlighting service providers, entertainment, restaurants, schools, utilities and more)

218-390-6747 | dwellinduluth.com

FEATURES •Features the people, places, and experiences that elevate our region •Circulation of 16,000+ •Market section featuring regional real estate and vacation rentals •Digital Only in the North e-newsletter with over 2,500 subscribers

218-390-6747 | northmagazine.com

KEY MARKET FACTORS

How long does it take to sell a property? Some properties sell in a few days, others may take several months. By recognizing some key factors that influence marketing a home you can get significant control over market time. The proper balance of these factors will expedite your sale:

PRICE

Proper pricing is critical to the sales process. If a property is not properly priced a sale may be delayed or even prevented.

LOCATION

Location is the single greatest factor affecting value. A neighborhood’s desirability is basic to a property’s fair market value.

CONDITION

The property condition will affect price and speed of sale. Optimizing physical appearance and advance preparation for marketing maximizes value.

ECONOMIC FACTORS / MARKETING FACTORS

This includes things such as interest rates and supply and demand. The real estate market may reflect a “buyers” or “sellers” market. Market conditions cannot be manipulated; an individually tailored marketing plan of action must be developed for each situation.

COMPETITION

Buyers shop by comparison. They interpret value based on other properties on the market.

TERMS

Terms include but are not limited to financing, contingencies, and closing dates. The more flexible you are with your terms, the more buyers your house will appeal to.

MARKETING

Properly marketing your home improves the chances of a faster sale and a better price.

IMPORTANCE OF PRICING Determining the best asking price for a home can be one of the most challenging aspects of selling a home. It is also one of the most important. If your home is listed at a price that is above market value, you will miss out on prospective buyers. As the figure below illustrates, more buyers look at properties priced at or below market value than above market value. Therefore, by pricing your property at or below market value, the more buyers you will expose your house to which greatly increases your chances of selling your home.

IMPACT OF PRICE ON VISIBILITY

+15%

The percentage of potential buyers who will look for property.

Another critical factor to consider when pricing your home is time on market.

As figure 2 shows, a property attracts the most attention, excitement, and interest from potential buyers when it is first listed.

Improper pricing at the initial listing misses out on this peak interest period and may result in your property languishing on the market. This may lead to a below market value sale price, or, even worse, no sale at all.

+10% MARKET VALUE

-10% -15%

THE PRICE IS RIGHT ACTIVITY

Timing is extremely important in the real estate market.

Your property gets the most attention when it first comes on the market. Be sure the asking price is attractive when the interest and activity are both high.

0

1

2

3

4

5

TIME ON THE MARKET

6

7

8

WHAT’S NEXT? AGREE ON A LIST PRICE, LIST DATE, AND LISTING TERMS. Our expert guidance sets the stage for a successful property listing.

PAPERWORK We will provide you with the required paperwork to sign in order to get your property listed.

FILL OUT SELLER DISCLOSURE FORMS State law requires sellers to fill out a Seller’s Disclosure Form for real estate transactions. The purpose of this form is to disclose any known defects or issues to potential buyers.

STAGING CONSULTATION (IF NEEDED) Depending on your wants and needs, we will schedule a staging appointment for your home. These appointments last at most an hour, and you’ll be provided with a list of action items to get your home show-ready.

PHOTOGRAPHY We will schedule a professional photographer to take photos of your property. We recommend that you have your home “show ready” prior to the appointment. These sessions usually last 1-2 hours and are at no additional expense to you.

SET UP SHOWING LOGISTICS Prior to listing your property, we will consult with you on how to handle showings. We provide a user-friendly software called, ShowingTime that will send you text/email alerts when a showing request comes in and allows you to confirm or deny appointments. We ask you to provide all keys necessary to access the property which we will place in a lockbox for showing agents.

FINAL REVIEW PRIOR TO LISTING We will provide a preview of the listing as it appears on the MLS before it goes live. This is an opportunity for you to review the photos, description, and information about your house, ensuring it is accurate and that our marketing is reflective of your expectations