Listing Presentation for 4106 Stuart Avenue Property of Lacy Williams of Joyner Fine Properties

1. Marketing Plan
4106 Stuart
Lacy Williams
Joyner Fine Properties
www.RichmondHousing Today.com
1
804-864-0316

2. Keys To Selling a House
Today
1. Staging and condition of house
2. Price
3. Marketing Plan
A Diamond and A Deal!!!
2

3. 1. Staging and
Condition of
House
3

4. Staging Your House
• Rule #1: You can’t sell it if you can’t see it
• Rule #2: Get rid of the clutter. Look like a model home
BEFORE AFTER
4

5. Staging Your House
• Rule #3: Raise the Blinds and turn on all lights
BEFORE AFTER
• Rule #4: Rooms with Furniture are Better than Empty Rooms
5

6. Additional Staging Ideas
• Curb appeal is more important. If you can’t get them
inside, you can’t sell it.
• First impressions are most important – focus on the
entrance
• Use Plants inside and out at front door and in living
areas. Have flowers on the dining room table.
• Landscaping is important – trim overgrown bushes, cut
grass and put in new mulch
• Get rid of smells (Dogs, cats, cigarettes)
• Depersonalize
• Float the furniture
• Repurpose unused rooms
• Less is more
• Additional ideas are on my web site,
www.LacyWilliams.com.
6

7. Maximizing the Value of
Your Home
• I will help you stage your house to sell
• I can coordinate service people including
cleaners, painters, contractors, etc.
• Clean and put away (Smart Box, PODS to store
unneeded things)
• Remove excessive furniture
• Repair electrical and plumbing issues
• Fresher up the paint – neutralize
• Buyers need a blank slate and a neutral palette
to be able to see themselves and their things in
the house
7

8. Staging Ideas
• For more staging ideas, go to
www.stagedhomes.com.
8

9. 2. Pricing
Remember The following:
2012 is not 2007!!
9

10. Pricing Your House
• Agents do not establish market value, they show and
market. Buyers buy.
• Buyers dictate the market value of your home
• Buyers engage in comparison shopping
• Buyers may not like your colors, finishes, etc
• A Buyer will not pay more for one property than for another similar
property
• Competitive Market Analysis
• A competitive market analysis will show you what buyers are willing
to pay for similar properties
• Also shows you what they have not been willing to buy that is
currently on the market
• Focuses on other properties which are competing for Buyer’s
attention
10

11. Pricing Your House
• Factors that Do Not Affect Your Property’s
Value
– What you paid when you bought the house
– What you put into the house
• Replacement of maintenance items
• Additions, upgrades etc
– What you “Need” to get out of the house
– The assessed taxes
– What an appraiser or a real estate professional says the
property is worth
11

12. The Overpriced Listing
• House should be priced at
$200,000
The Overpriced Listing
• Seller says “Lets just start
it higher and see what
260,000
$250,000 happens
240,000 $240,000
$230,000 • Each month Seller reduces
220,000 $220,000 the price and continues to
$210,000 pay mortgages and
200,000 $200,000
expenses
List Price
$190,000
The right price
180,000 $180,000
• Seller gets mad at agent!
160,000 • House becomes “tainted”
140,000 and price continues to fall
below the “right price”
120,000
• House finally sells below
100,000
what it should have sold
1 2 3 4 5 6 7 8 for
Months on Market
12

13. The Correctly Priced Listing
• House should be priced
at $200,000
The Correct Price Listing
• Seller says “Lets price it
260,000
to Sell!
240,000 • House sells in 1 week for
the asking price
220,000
200,000
• Happy Seller!
List Price
The right price
180,000
160,000
140,000
120,000
100,000
1 2 3 4 5 6 7 8
Months on Market
13

14. Market Activity vs. Time
Precision Pricing is most important in the early days of marketing!
“Testing the Market” closes the Window of Opportunity!
Source: HP Real Estate Marketing Assistant Program
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15. What are your Carrying
Costs for Your House?
(The price of not selling)
• Mortgage
• Insurance
• Taxes
• Association fees
• Utilities
• Maintenance and repairs (outside and
inside)
15

16. 3. Marketing Plan
16

17. Preparation
• Measure square footage by an appraiser
(when necessary)
• For sale sign on property
• Box on property with flyers
• Lock box
17

18. Internet Marketing :
How Real Estate Consumers Have Changed
• The first showing of your house is not in your house-it is on
the Internet!!! If Buyers like the first showing, then they will
come into the house for a second showing.
• Buyers are 9X as likely to find the home they purchase on
the Internet than in a newspaper.
• Buyers are 34X more likely to find the home they purchase
on the Internet than in a home book.
• Buyers want every bit of information available on properties,
especially in a buyer's market where negotiating power has
increased.
• Buyers become more visual and demand more photos and
full-motion videos; they expect more than simply moving
print listings online.
• Internet home buyers also use the web to effectively filter
out properties that do not interest them.
18

19. On Line Marketing
• Put into MLS Exposes to 5000+ agents
plus numerous public web sites
• Create a video tour to be included on most
web sites.
• www.JoynerFineProperties.com
– Features weekly open houses
– Features your listing
• www.LacyWilliams.com
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20. Visual Tour
• Visual tour will be created for your house.
• Only 5% of the agents use Visual Tours.
Do you want your house to stand out?
• Visual Tour allows us to have an unlimited
number of photos, visuals including
community information.
• Visual Tour listings get more showings,
sell quicker for a higher price.
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21. On Line Advertising Sites
HGTV Front Door
Integrated Asset Services
Home  Tour  Connect
Home Winks
Cyberhomes 21

22. Video Tour: On Line Advertising
• A video tour will be created and will be included
on the following web sites:
Linkedin
Twitter
facebook
Visualtour.com Video
22

23. Capturing Buyers on Realtor.Com®
The more buyers we can
interest, the better
chance we have of
finding one who will
meet your price, terms
and desired closing
date.
SHOWCASE LISTINGS
I will upgrade your
listing on
REALTOR.com® to be
more prominent using
REALTOR.com’s
Showcase Listing Because REALTOR.com® has millions of
Enhancements. listings…
I will make yours stand out!!
23

24. SHOWCASE
LISTING
ENHANCEMENTS
helps to sell your property:
• Your home will be more visible
to buyers – highlighted on the
screen in Realtor.com
• I receive customer leads directly
so I can personally respond to
buyers
r
r
• More exposure for your property
Up to 25 Jumbo Photos
(instead of one photo)
Video tours
Promote open houses
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25. Featured Homes
• Your home will be
in a rotation to be
one of
Realtor.com’s
featured homes.
25

26. Web Site Search
Optimization
• Zillow
• Trulia
• Realtor.com
• Mobile App (Joyner and personal)
26

27. Luxury Portfolio
• Luxury Portfolio is a
boutique group of luxury
firms that represent more
listings and more sales
than any other franchise or
luxury organization.
• Web site allows you to
search luxury properties
worldwide.
• Joyner Fine Properties is
on of only 2 companies in
Richmond that is a
member.
27

28. Marketing Plan: Print
Advertising
• Create an attractive color brochure that
highlights the elegance and charm of the
house. Combine written details with color
photographs
• Advertise in Sunday classifieds when
holding an open house
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29. Open House
• Open house the first Sunday
• I supply flowers, Open House signs, lead
in signs and a newspaper ad and Open
House directory ad for each open house.
• Open houses are advertised on Joyner
Fine Properties web site, Zillow and other
web sites and on Visual Tour web sites.
29

30. Showing the House
• Use lockbox on property to gain maximum exposure
to all agents
• Attempt to get feedback from agent from all
showings
• Contact owner weekly (or as desired) with status
• The easier it is to show the house, the easier it is to
sell the house. If you can’t show it, you can’t sell it.
• Buyers are often on a short fuse – I will give you as
much notice as I have but often I get a call from an
agent who wants to see the house now.
• Important to leave the house during showings – the
Real Estate professional will answer their questions.
30

31. Estates and Homes
31

32. Contract to Closing
• Negotiate offers and addendums
• Qualifying purchasers and work with lenders to
get required information.
• Association packages
• Inspection and inspection issues
• Contractors to perform or estimate repairs
• Appraisal
• Coordinate settlement with attorneys.
• Getting to the closing
32

33. 4. Qualifications
33

34. Qualifications:
Joyner Fine Properties
• Full service real estate firm specializing in high end
properties
• Founded in 1973
• 130+ full time agents plus a staff of 15+
• Leadership in Local and National Boards
• Member of Leading Real Estate Companies of the
World relocation network which provides a vast
cross-country network of 82,000+ sales associates
belonging to 1500+ leading firms
• Currently working with Mead Westvaco and other
firms on relocating their employee to Richmond
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35. Leading Real Estate
Companies of the World
(Leading RE)
• Joyner Fine Properties is a member
of Leading RE
• Leading RE does more relocations
that anyone else!
• LeadingRE members sell nearly
25,000 homes annually valued at
$43 billion, 20 percent more than
any other national real estate
organization.
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36. Joyner Fine Properties
Relocation Experience
• Alcoa • Motorola
• Alpha Lavall • Northrop Grumman
• Bank of America • Performance Food Group
• BB&T • Philip Morris
• Black & Decker • Siemens
• Capital One • Sun Trust Bank
• Circuit City/Car Max • Sun Trust Mortgage
• CSX • Sunbeam
• Department of Defense • Virginia Commonwealth
• Dominion Resources University
• Federal Reserve • VCU Medical Systems
• Ford Motor Company • Wachovia Bank
• Honeywell • Wachovia Securities
• JP Morgan • Others
• Lowe’s
• MeadWestvaco
36

37. Joyner Award Winners!
• Lacy Williams: one of top 10 agents in Richmond in
2007 as reported by Richmond Association of Realtors
37

38. Joyner Fine Properties 2011 Award
Winners
38

39. Joyner Fine Properties is #2
in Volume
Volume of Sold Listings By Company in Greater
Richmond in 2011 (Top 10 Companies)
$1,000M
Volume of Sold Listings
$400,000,000
$350,000,000 $297M $295M $290M
$300,000,000
$250,000,000 $219M
$197M $186M
$200,000,000
$150,000,000 $108M
$90M $90M
$100,000,000
$50,000,000
$0
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Source: Richmond Association of Realtors
39

40. Number of Agents By Company
Number of MLS Agents By Company
793
Number of MLS Agents
900
800
700
600
500
400 221 231
300 132 100 108 89
200 57 23 31
100
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t er y lty RA BL on y
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Source: CVRMLS Data 1/9/12
40

41. Joyner Fine Properties is #1 in
Average Sale Price
Average Sale Price by Company in Greater
Richmond in 2011 (Top 10 Companies)
$331,942
Average Price Per Side
$350,000
$300,000 $259,110 $256,831
$228,060 $231,975
$250,000 $212,561 $212,951
$185,456 $176,745
$200,000
$150,000 $111,718
$100,000
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Source: Richmond Association of Realtors
41

42. Joyner Fine Properties is #1
in $1,000,000 Sales
Number of Sides (Listings and Sales) for 2011 Sales over
$1,000,000 in Greater Richmond in 2011 by Company (Top 10
Companies)
Number of Sold Sides
23
25
20
14
15
10 5
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Source: CVRMLS Data 1/9/12
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43. Luxury Homes Specialist
43

44. Qualifications
• Ruby award winner which is the highest
award that Richmond Association of
Realtors gives
• Top 1% of Realtors nationwide
• Number 752 in the nation ranked by sales
volume in 2005
• I sell homes and condominiums all over
the Richmond area
• Full Time Office assistant
44

45. Houses that I have Recently
Sold in Your Neighborhood
Buyers Agent: Listing Agent:
• 515 Granite Ave 600 Libbie Ave
• 4704 Cutshaw Ave 4635 Stuart Ave
• 4003 W Grace St 5409 Toddsbury Rd
• 4108 Grove Ave 4407 Hanover Ave
• 5707 Park Ave 4509 W Grace St
• 4622 Hanover Ave 39 Lexington Rd
• 4715 W Franklin St 13 Willway Ave
• 4508 Bromley Ave 6207 Three Chopt Rd
• 4407 Hanover Ave 5300 Matoaka
• 4509 W Grace St Lock Lane Condominiums (116 sold!)
• 39 Lexington Rd
• 207 N Wilton Rd
• 105 Seneca Rd
• 98 Tuckahoe Blvd
45

46. How to sell your home today
1) Maintain and stage
2) Help pay closing costs
3) Expect to pay for a home warranty
4) Don't snub low offers
Source: Market Watch 6/15/09 46

47. Additional
Information on the
Real Estate Market
and Pricing
47

48. Number of Single Family House Sales by Year
Greater Richmond Single Family Sales
Number of Single Family
18000 16450
15262 15533 15074
16000
14000 12737 12644
House Sales
12000 9482 9069 10177
8574 9051
10000
8000
6000
4000
2000
0
2 3 4 5 6 7 8 9 0 1 2
200 200 200 200 200 200 200 200 201 201 201
Year
Source: CVRMLS data 1/6/13
The number of single sales dropped every year from 2005 to 2010. The number of sales in 2010 was approximately half
of the number of sales in 2005. After 5 straight years of declining sales, the number of sales in 2011 was 5.5% higher
than 2010 and 2012 sales were 12.5 % higher than 2011 sales
48

49. Year Over Year Change in Number of Sales
Number of Single Family House Sales in Greater Richmond
Price Range 1/11-12/11 1/12-12/12 Change
$0-$250,000 6259 6799 8.63%
$250,001-$500,000 2317 2755 18.90% In the Condominium market,
Year over Year number of sales
$500,001-$750,000 395 470 18.99% by price point have increased in
all price points with dramatic
$750,001-$1,000,000 102 106 3.92% increases in the higher price
$1,000,001+ 30 47 56.67% points..
In the single family market,
Year over Year number of Number of Condominium Sales in Greater Richmond
sales by price point have
increased in all price points Price Range 1/11-12/11 1/12-12/12 Change
with the greatest increase in
the high end market..
$0-$250,000 932 1078 15.67%
$250,001-$500,000 268 300 11.94%
Source: CVRMLS data 11/25/12
$500,001+ 14 39 178.57%
49

50. Months Supply’s Impact on
Price
Months Market Pricing
1-4 Sellers Appreciation
5-6 Even The Norm
7+ Buyers Depreciation
50

51. Inventory of Single Family Houses
by Month in Greater Richmond
Inventory of single Family Houses By Month
12.0
10.0
Inventory of Houses
8.0
2010
6.0 2011
2012
4.0
2.0
0.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Month
Source: CVRMLS data
The supply of houses is determined by the number of active listings divided by the monthly sales rate for the past year.
After 2+ years of inventory between 8 and 10 months, inventory began to drop in the later months of 2011 and has
continued to drop in 2012. We are following a nationwide trend of declining inventory. In May 2010, there were 7455
houses listed for sale in Greater Richmond and now there are 3619. A normal market is 5-6 months of inventory.
51

52. Average Price Per Square Foot By Year for
Single Family House Sales in Greater Richmond
Greater Richmond Single Family Price Per Square Foot
For Closed House Sales By Year
Price Per Square Foot
$150
$139.64
$140 $135.82
$132.43
$130 $123.38
$117.82
$120 $112.24
$107.60 $104.98 $106.16
$110
$99.65
$100 $92.37
$90
$80
03
04
05
06
07
08
09
10
11
12
02
20
20
20
20
20
20
20
20
20
20
20
Year
Source: CVRMLS data 11/25/12
Prices have started to rise in Greater Richmond with 2012 prices being approximately 2% higher than 2011 prices. With
a 25% decrease in prices between 2007 and 2011, prices are still at 2004 levels as indicated in the red line on this graph.
52