Marketing Plan For John Doe 123 Main Street Cincinnati, OH 45200
Presented By: Karen Schlosser 513-702-6285 soldbykarenschlosser@gmail.com www.karenschlosser.com
At Comey & Shepherd... We understand what is important to our sellers Price You want the highest possible price for your home Terms You want the best possible terms in the sales contract Timing You want the house sold in the shortest possible time Convenience You want to be completely informed and minimally inconvenienced We are committed to selling your home for the best possible price and terms, in the shortest possible time with the least inconvenience.
2
What’s important to you? To understand your concerns and individual needs, please take a minute to let me know if you have particular concerns in any of the areas mentioned below: •
Open Houses
•
Broker’s Qualifications
•
Pricing
•
Home Enhancement Recommendations
•
Marketing & Advertising
•
Internet Promotion
•
Avoiding Inconvenience
•
Staying Informed
•
Time On Market
•
Security of Property
•
Buyer’s Financial Qualifications
•
Financing Options
•
Negotiation Strategy
•
Closing Costs & Net Proceeds
•
Handling The Details
•
Post-Sale Follow-up
•
Other?
About Us…
We are proud to have the top producing residential real estate office in Cincinnati since 1994.
We have both the highest units sold and highest sales volume per agent average in the Greater Cincinnati area.
Our sales associates average more sales per agent which makes them the most experienced.
We are a member of Leading Real Estate Companies of the World, the largest relocation network.
We have an experienced management support team and staff to ensure all operations are handled according to the highest standards.
We are a full service company specializing in residential home sales, relocation services, marketing and new home construction. Our associates represent all of the Greater Cincinnati market and surrounding area.
4
Where Buyers Found The Home They Purchased Sellers, 2%
Magazine, 0%
Newspaper, 2% Home Builder, 5% Friend, Relative or Neighbor, 6%
Signs 11%
Internet 40%
Real Estate Agent 35%
Source: National Association of REALTORS Profile of Home Buyers and Sellers 2011
5
Personalized Marketing & Service Plan Service •
Create and present to you a comprehensive Comparative Market Analysis.
•
Take you on a “field trip” to view 2-4 comparable properties to yours prior to settling on a list price.
•
Provide you with home enhancement suggestions to ensure your house is “best foot forward” for all showings.
•
Have photos (up to 30) professionally taken of the property.
•
Prepare and publish marketing remarks that best describes your home.
•
Place an electronic lockbox on the door to facilitate ease of showings. NOTE: Electronic lock box records date, time and who accessed the box.
•
Enroll your property in our appointment center for ease of setting appointments to view your property, track showings, and receive feedback.
•
Follow-up with you every week with a Market Conditions Summary Report.
•
Follow-up with you with feedback from all showings of your property as soon as available.
•
Re-evaluate marketing plan and adjust price, as necessary, to stay competitive.
•
Prepare a Seller’s Estimated Net at the time of listing, upon receipt of an offer or upon a price adjustment.
•
If the property is vacant or you are away, visit property once a week for a “condition” check and, in addition, following every showing.
•
Skillful negotiation of all offers written on your property.
•
Managing the transaction from start to finish ensuring a smooth process to closing.
6
Personalized Marketing & Service Plan Marketing - Agent •
Prepare a Home Feature Booklet including a full-color property brochure to be available at the property for prospective buyers.
•
Immediately notify all Comey & Shepherd agents about your property through our office intranet.
•
Notify targeted agents using Reverse Prospecting (identifying buyers who are in the market for a property like yours) with eFlyer and virtual tour.
•
Notify agents with eFlyer and virtual tour who have sold similar priced properties in the last 12 months to announce new listing within first week of listing.
•
Notify agents with eFlyer and virtual tour who have similar priced properties currently listed to announce new listing within first week of listing.
•
At your option, expose your property to the market through Open Houses, two (2) within the first 30 days on the market.
•
Mail Just Listed postcards to your neighbors, letting them know your property is on the market within first week of listing.
•
Mail Just Listed postcards to my contact database, letting them know your property is on the market within first week of listing.
7
Personalized Marketing & Service Plan Marketing - Internet •
Enroll your property in the Multiple Listing Service of Greater Cincinnati.
•
Create a virtual tour to post on your listing on all websites accepting virtual tours including www.realtor.com.
•
Post your home to Craig’s List.
•
Post the virtual tour and eFlyer on my Facebook and LinkedIn profiles. You may do the same.
•
Syndicate your listing on multi “national” websites (See “Unlimited Internet Exposure” chart for a full list of websites.).
•
Post your home on over 160 local REALTOR® websites including Sibcy Cline, Coldwell Banker West Shell, Star One, Huff.
Marketing - Sign •
Place a for sale sign on your property with both office and my contact information.
•
Enroll your property in our 24/7 infoline powered by VoicePad which contains all of the broker reciprocity listings from the Multiple Listing Service of Greater Cincinnati.
8
comey.com Our website features an intuitive property search for all Comey & Shepherd and broker reciprocity properties, plus video and blog content, 24-hour MLS data watch, and more. Your listing on comey.com will feature up to 99 photos plus a virtual tour, convenient online appointment setting, and all leads that come in through comey.com are routed directly to your listing agent. NEW! Now you can search area listings with ease while on the go. Visit comey.com from any smart phone, no download or app needed!
Property Search fast and thorough
Featured Homes
Comey Mobile http://m.comey.com – quickly search from your smartphone active listings as available through the MLS
offers properties meeting the criteria of a viewer’s last comey.com search
Video
MLS Data Watch
Intuitive Search
tracks how the market moves through up-to-date statistics
search video clips by price range
similar properties displayed at the bottom of every search results page
9
10
Sign Of The Times
•Callers receive an audio presentation of your listing available every day, around the clock! •At the caller’s option, they can receive text alerts about your home as well as photos. •The Caller ID feature alerts me, your listing agent, of an inquiry via text and email allowing me to respond immediately to the caller, provide additional information and follow-up at a later date. •Caller also has the ability to connect with me directly or to a loan officer for pre-approval. 11
Virtual Tours Maximum Impact On The Internet Potential buyers can: • “Walk” through your home
• Explore the exterior of your property • Zoom in on details • E-mail the tour to friends and family
90% of buyers view the home they purchase on the internet before making an offer.
12
Real Estate Truisms By Karen Schlosser
Original Article June 25, 2009, Slightly Tweaked August 1, 2012
If you only believe “location, location, location” matters, you are only lying, lying, lying to yourself. Pay attention to these truisms about real estate: Your first offer is your best offer. – Hard to swallow when the first offer is a “low ball”. However, more times than not it does turn out to be your best. Although low, it should not be ignored. My advice to sellers when you receive a low offer, take 30 seconds to be offended, then tell the buyers what you are willing to sell the property for taking into consideration the latest market information and the property’s activity, online and in-person showings, as well as feedback. Marketing a home is not the same as living in one. You will have to adjust your lifestyle, putting forth extra effort to ensure your house is ready to show each and every day whether you have a showing scheduled or not. When I had my house on the market, members of my family had numerous endearing names for me such as drill sergeant, general, dictator and a few others for my rule that the property had to be ready for showing every day by 8 a.m. I wanted to ensure if someone called, I could easily and confidently say “yes” to the showing request. Selling a house occupied by kids and pets is a challenge but can be handled effectively with a little ingenuity and finesse. When in doubt, move it out. – Items in the home should be put in to 1 of 5 categories: keep, sell, donate, trash, store off site or neatly out of sight. Which leads to… Less is more. – Less stuff in the closets, less furniture in rooms, fewer personal items (family photos, personal memorabilia) around the house, neat and trim landscape. You never get a second chance to make a first impression. – The adage, “never judge a book by its cover” is a nice concept, unfortunately, “judging” is exactly what buyers do when they view a property online, drive by or take an interior tour. On average an impression, good or bad, is made in 7 seconds…yes, 7 seconds. Not only is “curb appeal” important, each room gives the buyer insight into the seller and the manner in which the property has been cared for. Each room makes an impression. Impressions determine desire and value. Desire + value = offering price.
Cute sells. – This phrase was born as a result of a conversation with a client who called to thank me for the information I provided about the sales of competing properties. The highlight of the conversation came when my client said, “I don’t really see the difference between the properties selling and our house except they are cute.” I responded, “Cute sells”. The house was vacant and the client would not allow the property to be staged. The listing sold; however, I’ve always wondered if the property had been “cute”, would it have sold for more or sooner? If you don’t tell, the neighbor will. – Neighbors love to tell buyers all they “know” about the property, sometimes these tales turn into fish stories, they grow with each telling. Solution: Inspect, repair, replace, disclose. My motto: Better to disclose than be deposed! There’s never a bad product, only a bad price. – The first 30 days of a property on the market is the most critical. At any given time, there is a pool of buyers looking for a home in your price range, if you have a “bad” price, they won’t come see it and won’t bid. Sellers often say, “Tell them to make me an offer”. Unfortunately most buyers aren’t interested in “testing” the waters, they want to bid on a property they feel the seller is willing to negotiate and motivated to sell. Price it right and let them fight. – Homes priced correctly, according to their condition, will have a flurry of activity which should culminate in an offer. No offer? Although the price didn’t stop the buyer from coming for a look-see, when they got to the property something stopped them from writing an offer. Remember the first truism, “Your first offer is your best offer.” Take heed. All real estate is local. – Applying national or state stats to a local area is a waste of time. Stats are so local they differ from school district to school district, suburb to suburb, development to development, street to street, house to house. Your REALTOR® can provide you detailed market stats to assist you in arriving at the right price. Ignoring the stats will simply cause a delay in your sale. Here’s to a successful real estate transaction! Karen Schlosser is Vice President, Sales Manager of Comey & Shepherd, REALTORS®, Cincinnati, OH 513-702-6285 | soldbykarenschlosser@gmail.com
How Much Is My Property Worth? Factors That Determine Market Value Recent selling prices of similar homes Competition Location Physical Qualities of Property
Market Condition, Interest Rates Factors That DO NOT Determine Market Value Original Price You Paid + Total Value Of Home Improvements Your Needed/Desired Proceeds Opinions Of Others What It Has Been Appraised For
Buyers determine the value of a home by comparison shopping! 14
4 Reasons A Property Sells 1.
Location – You have no control over the location of your house, but its location is one of the elements that determines value.
2.
Price – You control this. The right price can only be determine by a well-researched market evaluation. As a seller, you should get a written market analysis comparing your house to similar properties that have recently sold and those currently on the market.
3.
Condition Of The Property – You control this also. The condition of your house is vital to a sale. A clean, well-maintained house enjoys a competitive edge over all the other houses on the market. You’ll sell faster and at a higher price if you “stage” your house to enhance its appeal.
4.
The REALTOR® You Select – The REALTOR® advises you on market conditions, pricing and staging recommendations, contracting, financing, title work, appraising and closing activities. You want a REALTOR® with a proven track record who does their homework representing you in the sale of your house.
You control 3 of these!
15
Price It Right the First Time The risks of overpricing are: 1. Buyers who find better value elsewhere will go elsewhere. They won’t bother to look at your home or make an offer. 2. Your over-priced home will help sell right-priced homes. 3. Qualified buyers looking in the next lower price range won’t see your home. 4. An unsold home becomes “stale” resulting in a lower sale price and adopting the “what’s wrong with it” syndrome. 5. After time, the inflated price will have to be lowered below competing homes in order to get it sold. 6. Most buyers are lost during the showing stage – not the negotiating stage.
16
If The Price Is Right… Your house sells faster. The faster it sells, the less you spend on carrying costs, mortgage payments and taxes. You have less hassle. If you have moved before, you know the time and energy that goes into showing your house. It’s a lot of work. More exposure. You generate not only more buyers but buyers who can afford the property.
REALTOR® excitement. REALTORS® love to show houses they think they can sell at a fair price. Buyer excitement. Calls from signs and advertisements turn into showings when the price is not a hindrance. Better offers. Buyers are less likely to make a low offer for fear of losing a good opportunity. Sellers make more money. If a house is priced right, the excitement of the market produces better and more offers, which result in higher sale prices. You net more from the sales price and in lower carrying costs.
17
16,000 14,000 12,000 10,000 8,000
1,000
6,000 4,000 1,799
1,583
1,302
1,981
1,853
2,113
2,293
2,445
2,404
2,231
2,126
2,029
1,821
500 0
Active Residential Inventory
18,000 12,025
13,933
13,966
14,913
20,000
13,149
11,598
9,906
8,640
1,500
8,941
2,000 7,494
Residential Units Sold
2,500
16,689
3,000
17,880
16,786
Residential Units Sold vs. Active Residential Inventory July 2000-2012 Source: Multiple Listing Service of Greater Cincinnati, Inc.
2,000 0
2000
2001
2002
2003
2004
2005
2006
July Units Sold
2007
2008
2009
2010
2011
2012
Active Residential Inventory
2000-2012 YTD Number of Months of Housing Supply As of 07/31/12 Source: Multiple Listing Service of Greater Cincinnati, Inc. 15
12
11.1 9.6 9
7.8 7.7 6.5
6
6.7
6.3
A "balanced" market is considered between 5-6 months of inventory.
3
JAN
FEB
MAR
APR
MAY
2012
JUN
2011
JUL
2010
AUG
SEP
OCT
NOV
DEC
2009 Copyright August 2012 Karen Schlosser
$500,000
$262,948
$214,080
1,500
$299,388
$450,000 $325,368
$337,394
$438,055
$465,579
$429,563
$398,289
$329,381
$288,976
2,000
$356,857
2,500
$434,427
Single Family & Condo Units Sold vs. Total Dollar Sales Volume (in $1,000's) In July 2000 - 2012 Source: Multiple Listing Service of Greater Cincinnati, Inc.
$400,000 $350,000 $300,000 $250,000
1,000
$200,000 $150,000
2,029
2,126
2,231
2,404
2,445
2,293
2,113
1,853
1,981
1,302
1,583
1,799
$100,000 1,821
500
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
$50,000
0
$-
July Units Sold
Total Dollar Volume
$182,080
2006
$188,495
2005
$178,687
$190,000
$191,040
$200,000
$190,421
$194,723
Average Sales Price For The Month Of July 2000-2012 Source: Multiple Listing Service of Greater Cincinnati, Inc.
2010
$166,419
2009
$166,107
$164,424
$167,854
$164,244
$158,691
$170,000
$162,337
$180,000
2011
2012
$160,000
$150,000 2000
2001
2002
2003
2004
2007
2008
Copyright August 2012 Karen Schlosser
Residential Sales (Single Family) July 2012
Residential Sales (Condominium) July 2012
Source: Multiple Listing Service of Greater Cincinnati, Inc.
Source: Multiple Listing Service of Greater Cincinnati, Inc.
Selling Price Range $19,000 or Under $20,000 thru $29,999 $30,000 thru $39,999 $40,000 thru $49,999 $50,000 thru $59,999 $60,000 thru $69,999 $70,000 thru $79,999 $80,000 thru $89,999 $90,000 thru $99,999 $100,000 thru $119,999 $120,000 thru $139,999 $140,000 thru $159,999 $160,000 thru $179,999 $180,000 thru $199,999 $200,000 thru $249,999 $250,000 thru $299,999 $300,000 thru $349,999 $350,000 thru $399,999 $400,000 thru $449,999 $450,000 thru $499,999 $500,000 thru $549,999 $550,000 thru $599,999 $600,000 thru $649,999 $650,000 thru $699,999 $700,000 thru $749,999 $750,000 thru $799,999 $800,000 thru $849,999 $850,000 thru $899,999 $900,000 thru $949,999 $950,000 thru $999,999 $1,000,000 thru $1,249,999 $1,250,000 thru $1,499,999 $1,500,000 thru $1,749,999 TOTAL
# of Homes Sold 83 76 74 61 58 63 65 71 85 153 167 144 117 95 164 109 70 36 28 23 11 10 6 3 7 3 2 3 3 1 4 2 2 1799
Selling Price Range $19,000 or Under $20,000 thru $29,999 $30,000 thru $39,999 $40,000 thru $49,999 $50,000 thru $59,999 $60,000 thru $69,999 $70,000 thru $79,999 $80,000 thru $89,999 $90,000 thru $99,999 $100,000 thru $119,999 $120,000 thru $139,999 $140,000 thru $159,999 $160,000 thru $179,999 $180,000 thru $199,999 $200,000 thru $249,999 $250,000 thru $299,999 $300,000 thru $349,999 $400,000 thru $449,999 $450,000 thru $499,999 TOTAL
# of Homes Sold 2 9 10 5 9 8 13 9 14 31 21 17 11 6 14 12 4 1 1 197
Summary Price Information Minimum $15,000 Maximum $485,000 Median $111,000 Average $126,123
Summary Price Information Minimum $2,200 Maximum $1,700,000 Median $136,250 Average $171,375
Copyright August 2012 Karen Schlosser