REAL ESTATE SERVICES Marketing
Pricing Proposal
PREPARED ON: October 24, 2011
PREPARED FOR: Testy Tester 123 Main Street Hockessin, DE 19707
FOR PROPERTY LOCATED AT: 456 South Side
PRESENTED BY: Bob Bass REALTOR速 7234 Lancaster Pike Hockessin, DE 19707 Office: 302-234-6078 email: rbass@psre.com
pattersonschwartz.com
Guiding You Through Every Market Since 1961
REAL ES TATE SERVICES Marketing
Pricing proposal
PREPARED ON: October 24, 2011
PREPARED FOR: Testy Tester 123 Main Street Hockessin, DE 19707 For Property Located at: 456 South Side
PRESENTED BY: Bob Bass REALTOR速 7234 Lancaster Pike Hockessin, DE 19707 Office: 302-234-6078 email: rbass@psre.com
WELCOME TO PATTERSON-SCHWARTZ
[DATE] [RECIPIENT NAME] [STREET NAME] [CITY, STATE ZIP] Dear [RECIPIENT],
THANK YOU for providing me with the opportunity to present the benefits of partnering with me and Patterson-Schwartz Real Estate. In this summary, you will find our Market and Pricing Analysis including information about several properties similar to yours that are for sale or have recently sold. The plan also includes information about the strategies we will use to market your home as well as suggestions on how to best prepare your home for sale. The real estate company you decide to partner with can have a tremendous impact on the process of selling your home. Patterson-Schwartz is the leading real estate company in the local area, helping more people to buy and sell homes than any other company. We are also consistently rated by our customers as providing outstanding service and guidance. At Patterson-Schwartz, we are committed to doing business the right way. If you sell your home with me, you can be sure that I will represent you honestly, professionally and fairly. I am confident that we will serve you and protect your investment better than any other company in the area. I welcome the opportunity to work as your real estate professional.
Sincerely,
[AGENT NAME] [AGENT TITLE]
PATTERSON-SCHWARTZ PROMISE
OUR COMMITMENT TO YOU The PATTERSON-SCHWARTZ name is synonymous with quality service, professional integrity and successful transactions since 1961. For the past 50 years, we’ve helped people buy and sell in every market. In fact, we’re so confident you’ll be pleased with our service that we offer you our “NO RISK” guarantee. When you are represented by Patterson-Schwartz, your Sales Associate will do everything possible to help you buy or sell your home successfully. Your Sales Associate will keep you informed with regular status updates, employ thorough market knowledge and utilize the most advanced technology tools available. If you are not satisfied, at any time during the process, with the service you receive from your Sales Associate, you may cancel your agreement with Patterson-Schwartz with just 24 hours’ notice. That’s a promise from us!
[SIGNATURE] Richard T. Christopher President & CEO
THE BENEFITS OF USING A REALTOR ®
Only a REALTOR® can: · Provide detailed information on the local marketplace · Offer a comprehensive level of knowledge relating to buying & selling real estate · Write legally binding purchase agreements · Address questions and concerns as they arise in
W
hen purchasing a home, your Patterson-Schwartz Sales Associate will provide you with up-to-date information on what is happening in the local marketplace including pricing, financing and details of competing properties. These are key factors in successfully selling your home at the best price in the least amount of time. Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. We subscribe to a strict code of ethics and are expected to maintain a comprehensive level of knowledge as it relates to the process of buying and selling real estate. We are committed to serving all parties of a transaction honestly and all business practices are closely monitored by the local real estate board, where arbitration and disciplinary systems are in place to address complaints from the public or other board members.
the settlement process · Uphold business practices that are monitored by local real estate board
Your REALTOR® will help you write an appropriate legally binding purchase agreement. Between the initial sales agreement and settlement, questions may arise (for example – unexpected repairs may be required to obtain financing or a problem, with the title may be discovered)Your REALTOR® is the most qualified person to assist and guide you through this process by resolving issues on your behalf and helping to successfully move the transaction towards settlement.
ABOUT ME
[AGENT NAME] EXPERIENCE:
AFFILIATIONS:
EDUCATION:
COMMUNITY:
PERSONAL:
MY CLIENTS SAY IT BEST!
SELLERS:
[TESTIMONIALS GO HERE]
BUYERS
[TESTIMONIALS GO HERE]
The Benefits of Partnering with Us
pattersonschwartz.com
Guiding You Through Every Market Since 1961
THE STRENGTH OF A LEADER
REPUTATION
For 50 YEARS, Patterson-Schwartz has been committed to doing business the right way – trust and integrity are the foundation of everything we do. We are a locally owned and operated company deeply rooted in the communities we serve.
MARKET DOMINANCE
For many decades, we have been the area’s DOMINANT MARKET LEADER – a tribute to the quality and character of our Sales Associates, Employees and Management Team. In fact, onein-three families who buy or sell a home in our market area will work with Patterson-Schwartz.
COMMITMENT TO CUSTOMER SATISFACTION At Patterson-Schwartz, we’re focused on exceeding your expectations – in fact, we survey every seller and buyer who buys or sells a home with us. For the last 5 years, we’ve met or EXCEEDED
CUSTOMER EXPECTATIONS 98.7% of the time. We’re all about creating an exceptional
real estate experience for you!
INTEGRATED MARKETING & EXCEPTIONAL TECHNOLOGY
Our integrated marketing approach – combined with ONLINE, MOBILE and SOCIAL MEDIA strategies – ensures that your property receives constant exposure until it’s sold. Technology is a strategic advantage in every facet of our business. It provides our Sales Associates with the means to operate effectively and efficiently, yet maintain the personal touch that you expect.
VALUABLE CONNECTIONS We offer an unparalleled combination of professionals and resources at work for you. PattersonSchwartz works with many of the area’s top employers to offer relocation services. We are also affiliated with the
LEADING REAL ESTATE COMPANIES OF THE WORLD®, a
network which represents over 600 of the foremost local and regional brands in residential real estate.
POWERFUL PARTNERS
We offer integrated real estate services to our customers, including BROKERAGE SERVICES,
MORTGAGE SERVICES (through Shelter Mortgage), HOME WARRANTIES and other related services. Our partnership with Shelter Mortgage provides professional financing advice and guidance. In fact, every office has a dedicated Shelter Mortgage Loan Consultant on staff ready to assist you.
WHY CHOOSE PATTERSON-SCHWARTZ
THE AREA’S DOMINANT REAL ESTATE COMPANY FOR NEW CASTLE COUNTY, DE Since 1961, in every kind of market, Patterson-Schwartz has helped more buyers and sellers achieve real estate success than any other area broker. In fact, Patterson-Schwartz has sold more homes in New Castle County than the next three brokers combined. Put our strength to work for you!
Broker #4 Broker #3
8%
6%
32%
Broker #2
17%
Data based on TReND MLS for New Castle County, Delaware from January 1, 2011 to December 31, 2011. Listings sold dollar volume in New Castle Co., DE. Information deemed reliable but not guaranteed.
WHY CHOOSE PATTERSON-SCHWARTZ
THE AREA’S DOMINANT REAL ESTATE COMPANY IN CECIL COUNTY, MD We’re not just about Delaware! At Patterson-Schwartz, we’ve helped buyers discover the many fine neighborhoods and area amenities that Maryland has to offer. This opens up your home to a larger pool of potential buyers.
Broker #4 Broker #3
8%
6%
32%
Broker #2
16%
Data based on TReND MLS for New Castle County, DE and Cecil County, MD from January 1, 2011 to December 31, 2011. Market share dollar volume in New Castle Co., DE and Cecil Co., MD. Information deemed reliable but not guaranteed.
WHY CHOOSE PATTERSON-SCHWARTZ
THE AREA’S DOMINANT REAL ESTATE COMPANY IN SOUTHERN CHESTER COUNTY, PA We’re not just about Delaware! At Patterson-Schwartz, we’ve helped buyers discover the many fine neighborhoods, schools and area amenities that Pennsylvania has to offer. This opens up your home to a larger pool of potential buyers.
Broker #4
329
Broker #3
Homes Sold
463
Homes Sold
1,339 Homes Sold
Broker #2
891 Homes Sold
Data based on TReND MLS data from January 1, 2011 to December 31, 2011. Market share in units in New Castle Co., DE and S. Chester Co., PA. Information deemed reliable but not guaranteed.
PATTERSON-SCHWARTZ FOUNDATION
HELPING TO MAKE THE COMMUNITY A BETTER PLACE TO LIVE AND WORK… At Patterson-Schwartz, we embrace the philosophy that being a good neighbor is more than just giving money to a worthy cause. It’s about developing and investing in the community in which we live and work. That’s why our Sales Associates and employees give countless hours of their time in support of various organizations and events. In addition to lending a helping hand, Patterson-Schwartz donates a portion of the proceeds from every real estate transaction to the PattersonPatterson-Schwartz donates a Schwartz Foundation which provides portion of the proceeds from every support to numerous real-estate transaction to the local charitable organizations, ranging Patterson-Schwartz Foundation, from social services which provides support to and health care research to youth programs numerous local charitable and garden clubs. organizations Since its inception in 2001, the PattersonSchwartz Foundation has donated more than $1,000,000 to local organizations such as Habitat for Humanity, New Castle Public Library, Mary Campbell Center, March of Dimes, Children and Families First, Delaware Nature Society, Multiple Sclerosis Society, American Cancer Society and many. Together we can make a difference!
EXCEEDING EXPECTATIONS
HIGH STANDARDS OF QUALITY AND SERVICE EXCELLENCE ARE UPHELD THROUGHOUT OUR ORGANIZATION. Exceeding your expectations is our objective and providing you with value is so important that our President requests your comments and suggestions and welcomes the opportunity to speak with clients regarding their experience. After the closing of the sale of your property, you can expect to receive our QUALITY OF SERVICE SURVEY, via email (if we have your email address on file) or post mail, where you will be asked to evaluate my performance as your REALTOR® and the overall quality of service received from Patterson-Schwartz Real Estate. Your feedback plays a vital role in our quest for excellence and tells us how we can service you (and other customers) better in the future. Here is a sampling of feedback from recent surveys – see what our customers had to say!
“Patterson-Schwartz has an outstanding reputation which was upheld during our transaction.” “I had my house on the market about 5 months with another company when I changed to Patterson-Schwartz. In less than 2 weeks, Patterson-Schwartz and my
agent had a contract.” “(I)Had my property on the market with another company nearly 1.5 years without any offers! Transferred to Patterson-Schwartz and my home was sold in about 5 weeks.” “This was the fifth time I’ve worked with my agent at PattersonSchwartz…I think that says it all! Exemplary service as usual.” “My agent is great! I would recommend her to others, actually I just did the other day. Thanks Patterson-Schwartz for great agents”.
2:7
Marketing MARKETING YOUR HOME
An Integrated Marketing Strategy
pattersonschwartz.com
Guiding You Through Every Market Since 1961
AN INTEGRATED MARKETING STRATEGY WHEN IT COMES TO MARKETING YOUR HOME, Patterson-Schwartz takes an integrated approach to expose your home to the greatest number of potential buyers. To do this, we focus our efforts on marketing activities that have PROVEN RESULTS in today’s real estate market. In late 2011, the National Association of REALTORS® surveyed home buyers and sellers about the home search process and the information sources used during their search. Buyers indicated real estate agents and the Internet were the two highest-ranking sources of usefulness in 2011. In fact, buyers ranked real estate agents as the most useful resource during their home search process.
INFORMATION SOURCES USED IN HOME SEARCH PROCESS RANKED “VERY USEFUL” BY BUYERS
83% 81%
Real Estate Agent Internet
50%
Home Builder Open House Yard Sign Relocation Company
40% 37% 35%
23% Home Book or Magazine 22% Billboard 19% Television 19% Print Newspaper Ad
0
20
40
60
80
100
Source: 2011 National Association of Realtors profile of home buyers and sellers
At Patterson-Schwartz, your home will receive maximum exposure to potential buyers through our SALES ASSOCIATE NETWORK and industry affiliations: • Once your home is listed with Patterson-Schwartz, you’ll get immediate exposure via our company intranet to more than 350 Patterson-Schwartz agents and their extensive buyer base. • As a member of the local Multiple Listing Services (MLS), we enlist the efforts of other cooperating real estate professionals. • As a member of the Leading Real Estate Companies of the World®, a prestigious national network, we expose your home to more than 150,000 real estate associates in 5,000 offices.
Marketing Your Home
AN INTEGRATED MARKETING STRATEGY
T
he way Buyers use the Internet has changed dramatically over the last ten years. In 2001, 8% of buyers found their home on the Internet; today 40% percent of buyers ďŹ nd the home they ultimately purchase on the Internet. The Internet has edged out all other sources in the process.
WHERE BUYERS FOUND THE HOMES THEY PURCHASED Print Knew Seller Newspaper Home Builder Friend, Relative, or Neighbor
5%
2%
2%
11%
Internet
Yard/ Open House Sign
40%
11%
Real Estate Agent
35%
Source: 2011 National Association of Realtors profile of home buyers and sellers
With the increasing use of the internet as search tool, an effective online presence is vital. At Patterson-Schwartz, we provide unlimited online market exposure for your home.
Marketing Your Home
WWW.PATTERSONSCHWARTZ.COM
LISTING YOUR HOME ON PATTERSONSCHWARTZ.COM IS LIKE HAVING AN OPEN HOUSE 24/7 – 365 DAYS A YEAR! Our homepage is specifically designed to capture home buyers right from the start of their search. In fact, our website receives more than 1.1 MILLION PAGE VIEWS per month. Below are some of the home search tools we offer to drive visitors to our website and traffic to your home. • Your home will be immediately exposed to an average of 68,000+ unique visitors who visit our website every month. • Your home will be showcased on the homepage of pattersonschwartz.com on a rotating basis for a full week of market exposure with an average of 39,000 click-throughs per month. • An email notification will be sent to registered homebuyers whose search preferences match the listing’s features. • Your home will have its own custom property website. This provides prospective homebuyers with the convenience of learning more about your home by simply entering your home’s unique web address online – no searching involved! The custom website includes: - Multiple photos - Aerial views - Mapping and links to schools, neighborhoods and area amenities - Virtual tour - Detailed home feature information - Ability to request an appointment for a personal tour
Marketing Your Home
ADDITIONAL ONLINE EXPOSURE
PATTERSON-SCHWARTZ REAL ESTATE HAS AN AGGRESSIVE STRATEGY FOR ATTRACTING HOMEBUYERS TO YOUR LISTING. By distributing your listing information – along with 25 PHOTOGRAPHS and a custom VIRTUAL TOUR – to a wide array of well-recognized national listing and search portals, we maximize every opportunity to attract qualified buyers to your listings. · Delawareonline.com · Homefinder.com · Trulia.com · Homes.com · DirectHomes.com · Openhouse.com · Relohomesearch.com · Realtor.com · Zillow.com · Yahoo! Real Estate · MSN.com · Diggsy.com
· eLookyLoo.com · Frontdoor.com · AOL Real Estate · Oodle · HotPads.com · Vast · MyREALTY.com · YouTube
· PropertyPursuit.com · foreclosure.com · RealtyTrac · Relocation.com · USHUD.com · HomeWinks.com · HomesByLender.com · RealtyStore.com · RealQuestExpress.com · RealEstateCentral.com
Marketing Your Home
MOBILE MARKETING M.PATTERSONSCHWARTZ.COM – OUR MOBILE WEBSITE With the exponential growth in the usage of mobile devices for real estate searches, PattersonSchwartz offers buyers “on-the-go” a comprehensive mobile version of our public website – including the ability to download our free APP for IPHONE, ANDROID and BLACKBERRY mobile devices.
OUR MOBILE SITE PROVIDES POTENTIAL BUYERS WITH THE ABILITY TO: · Find homes for sale, for rent and recently sold properties · Use GPS functionality to locate nearby homes (mobile device must have GPS to use this feature) · Search and browse properties by price range, community, street, city, zip code or # of bedrooms and baths · View property information including full screen color photos, including listings for any house listed by any broker in our local market area · View dates and times for all Open Houses in the local area · Locate and connect with Patterson-Schwartz agents and offices · Call directly from our APP or email for more information or to schedule an appointment · Share listing details via email
GET THE APP! The pattersonschwartz.com APP is available for download
for FREE via your Smartphone web browser: Go to m.pattersonschwartz.com using the web browser on your Smartphone. Install the APP for your Smartphone (iPhone, Android, Blackberry)
Marketing Your Home
MOBILE MARKETING HOME TEXT – OUR TEXT MESSAGING SERVICE We make it easy for prospective buyers to get immediate information about your home! Our HOME TEXT program uses a text messaging platform to communicate home information while “on-the-go”. When an interested buyer sees the Patterson-Schwartz texting panel on your lawn sign, they can enter the information into their mobile device and receive an immediate response back via text.
OUR TEXT SERVICE INCLUDES: · · · · ·
Interior photos Detailed features Agent contact information A link to the home’s mobile web page The ability to request a personal tour or callback with immediate assistance from our Customer Care Center
WHAT IS A QR CODE?
QR CODES
The QR (a/k/a quick response) code is a two-dimensional bar code that has information embedded in it that allows consumers to use their mobile device (if they’ve downloaded a QR reader app) to scan the image and quickly receive detailed information.
Patterson-Schwartz uses QR codes to engage mobile consumers while “on-the-go”. When the QR code for your home is scanned from the lawn sign, the mobile device will use the GPS feature on the potential buyer’s phone to immediately display the property details for your home, including a FULL PROPERTY DESCRIPTION, full screen COLOR PHOTOS, the ability to MAP THE LISTING and VIEW DATES AND TIMES of any scheduled open houses. Buyers can also use a oneclick feature to connect with Patterson-Schwartz’ CUSTOMER CARE CENTER to obtain more information about your home or schedule an appointment to visit your home.
Marketing Your Home
OPEN HOUSES
Selling your home involves a strategic blend of print and online advertising so we reach the right target audience. While print has become a less important channel to advertise homes for sale, real estate consumers will use print to find information on OPEN HOUSES in the local marketplace. Patterson-Schwartz runs a weekly print advertisement promoting all Open Houses every weekend in the Sunday Real Estate section of the News Journal. We promote Open Houses online via our company website – pattersonschwartz.com and our mobile website – m.pattersonschwartz.com. In addition, we also advertise Open Houses online with the following web partners: Homefinder.com, Delawareonline.com, Frontdoor.com, Openhouses.com and Trulia.com. We even include an Open House Directory on our company Facebook page at www.facebook.com/pattersonschwartz.
Marketing Your Home
LUXURY PORTFOLIO PORTFOLIO INTERNATIONAL™ INTERNATIONAL ™ LUXURY
A
s an exclusive local affiliate of Luxury Portfolio International™, we provide our Sales Associates with an edge in the local real estate market in promoting and advertising high-end property listings. The Luxury Portfolio program provides both national and international exposure to unique properties valued at $1 million or more.
CAPTIVATING WEBSITE Luxury Portfolio’s award-winning website, luxuryportfolio.com, displays more $1 million-plus properties than other luxury real estate organizations, and has grown to feature over 10,000 of the world’s most remarkable properties. All properties include detailed mapping, navigation and many other features – the site is the perfect showcase for luxury listings.
PROMINENT PROPERTY ADVERTISEMENTS In addition to the website, Luxury Portfolio showcases listings to high net worth clients with unprecedented exposure both nationally and internationally through prominent print advertisements in publications such as The Wall Street Journal, Unique Homes magazine, and Luxe Interiors + Design & Country Life International.
STRONG MEDIA PRESENCE Luxury Portfolio has an aggressive branding strategy that is designed to drive high net worth consumers to their website. Through a comprehensive advertising campaign, Luxury Portfolio successfully draws the affluent consumer to properties displayed on its website. These publications include Departures, ForbesLife, Veranda, Villae International, Architectual Digest and more.
Marketing Your Home
MARKETING PERFORMANCE REPORTS
Y
ou can expect to receive regular reports regarding marketing activities and performance along with all of your home’s showings to prospective buyers.
OUR MARKETING SERVICES REPORT INCLUDES: · Buyer and agent feedback letting you know exactly what the market is saying about your home · Text inquiries from the lawn sign in front of your home · QR scans from codes used in marketing and promotional advertising material · Online advertising statistics specific for your property, including page and photo views for pattersonschwartz.com · Date and publication of all print advertising efforts · Details on flyer distribution, Open House results, and direct mail activities · An update of current market activity, such as, new listings that may be competition for you and information on homes that are selling and for how much · Calculation of absorption (supply vs. demand) based on current market activity All of this information allows us to make educated decisions on any changes necessary to make your home more salable.
STATUS REPORTS WHEN YOUR HOME GOES UNDER CONTRACT You can also expect to receive regular progress reports regarding the status of the purchaser’s loan, removal of contingencies (home inspection, radon inspection, etc.), mortgage appraisal, termite inspection, well and/or septic certifications, and any other contractual details that may require follow-up.
Marketing Your Home
Pricing MARKET ANALYSIS & PRICING
Pricing to Sell Your Home
pattersonschwartz.com
Guiding You Through Every Market Since 1961
PRICING YOUR HOME TO SELL DETERMINING LIST PRICE When selling your home, one of the MOST CHALLENGING, and ultimately the most IMPORTANT DECISION is determining the list price. You have called me in as an expert to sell your home and price it so it will sell. Obviously, you want the most in terms of net proceeds from the sale, ideally in the shortest amount of time. As an experienced Realtor® with Patterson-Schwartz, I bring my own, as well as my company’s knowledge and expertise to develop a strategic plan to achieve this goal.
There are many reasons why you already have a certain price in mind. You may be considering:
The following factors have more bearing on what your home is actually worth in today’s market:
• Your original purchase price plus an appreciation factor based on the number of years you have owned the property • The cost of improvements and replacements you have made • The amount of cash you need for the purchase of your next home • The cost to rebuild it today • Your personal attachment to the property
• Recently sold properties similar to yours • Similar properties currently for sale that will compete with yours for the same buyers • Condition of your property • Financing alternatives provided • Marketing Time • Exposure Methods • Current Economy – supply and demand, that is, the number of homes for sale vs. the number of possible buyers
list price
Together, we determine the – what a qualified buyer is willing to pay determines the
market value!
Notwithstanding any language to the contrary contained herein, this Competitive Market Analysis is NOT an appraisal of the market value for property and is not intended to be used for any legal purpose including approval of a mortgage loan, modification of a mortgage loan, divorce/property separation, estate settlement, bankruptcy proceedings or any other purpose where real estate value is needed. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained.
THE RISK OF OVER-PRICING YOUR HOME
Real estate industry surveys as well as our experience show that an overpriced property causes the following to occur: YOU WILL LOSE THE EXCITEMENT THAT A NEW LISTING GENERATES. Realtors are working with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, the most activity will take place in the first two to three weeks of a listing. Your home will likely receive its highest and best offers during this time. After that initial period, the only people who come to look at your home will be new buyers in the marketplace.
YOU WILL LOSE THE MOST QUALIFIED PROSPECTS! Buyers will not just “make an offer” because they probably will never see your property. They will view the properties that are priced within their purchase power range, knowing that they cannot afford anything above their price range.
OVERPRICING HELPS SELL OTHER, MORE COMPETITIVELY PRICED HOMES FIRST. Your home may become the example demonstrating the good value of other properties. Your objective should be to enter the market in a position that will attract potential buyers who will act because of perceived “best value” – not drive them away with a comparatively high price.
YOUR HOME MAY BECOME STALE ON THE MARKET. Prospects may wonder why your home has been on the market so long or if something is wrong with the property, even after you lower the price. When over-priced properties do sell, they often sell for less than they would have if they’d been priced right from the start.
SHOWINGS OVER TIME
THE RISK OF OVER-PRICING YOUR HOME
W
PERCENT OF BUYERS WHO WILL VIEW PROPERTY ASKING PRICE in relation to market value
PROSPECTIVE BUYERS who will look at the property
15%
10%
+
10%
30%
Market Value
60%
+
10%
75%
15%
90%
-
-
YOU LOSE A STRONG NEGOTIATING POSITION. When your house is on the market a long time, it hurts both financially and mentally. Prospects will not “rush” to make an offer on an overpriced property, and you most likely will be faced with accepting less when they finally do.
THE GOOD NEWS. At Patterson-Schwartz, we put significant time and resources into the collection, analysis and evaluation of our local real estate market data. This provides me with a keen understanding of trends in the real estate market and enables me to produce relevant property valuations. It’s one way we help our customers achieve their real estate goals in every kind of market.
Bottom Line:
Pricing your home correctly will make a tremendous difference in how fast it sells and for how much .
PRICING STRATEGY
GENERAL RULES As we discuss the pricing strategy for your home, there are a few items to consider. We are able to control some factors of the process while others are beyond our control. FACTORS WE CAN CONTROL: 1. Appearance of the property inside and out 2. How aggressively we market the property 3. The price and terms
FACTORS OUTSIDE OF OUR CONTROL: 1. 2. 3. 4.
Location of the property Finished square feet Types of rooms Amenities
SUGGESTED PRICING STRATEGY Based on recently sold properties, comparable properties and properties that did not sell, my analysis suggests a list price range of $_____________ to $_____________. This range should achieve our primary goal which is a reasonably quick sale.
Notwithstanding any language to the contrary contained herein, this Competitive Market Analysis is NOT an appraisal of the market value for property and is not intended to be used for any legal purpose including approval of a mortgage loan, modiďŹ cation of a mortgage loan, divorce/property separation, estate settlement, bankruptcy proceedings or any other purpose where real estate value is needed. If an appraisal is desired, the services of a licensed or certiďŹ ed appraiser must be obtained.
SELLER’S ESTIMATED PROCEEDS
REDUCTIONS IN AMOUNT DUE TO SELLER · 1st Mortgage Balance Current Month’s Interest · 2nd Mortgage Balance Current Month’s Interest · Other Liens · Pre-Payment Penalty
SUBTOTAL CLOSING COSTS · Payments Made on Buyer’s Behalf · Real Estate Commission · Title Insurance · Transfer Tax · Wood-Destroying Insect Infestation (Report, Treatment and/or Repair) · Mortgage Satisfaction Fee · Overnight Mail Charges (mortgage payoff) · Homeowner’s Warranty · Unpaid Taxes, Water, Sewer, Other
SUBTOTAL LOW
HIGH
PROPOSED SELLING PRICE TOTAL ESTIMATED CLOSING COSTS (plus Debt Payoff)
SELLER’S APPROXIMATE NET PROCEEDS DISCLAIMER: Items and amounts shown above are estimates only.
How To HOW TO PROCEED:
The Patterson-Schwartz Process
pattersonschwartz.com
Guiding You Through Every Market Since 1961
THE PATTERSON-SCHWARTZ PROCESS
A comprehensive plan of services to help ensure that the sale of your home is an exceptional experience! Here is an overview of what you can expect: EVALUATING & PRICING YOUR HOME • Listen to your needs and expectations. • Assist you in determining the best price for your home with a written estimate of value based on an analysis of market information. • Provide recommendations for staging your home to achieve the highest sale price. • Recommend local service providers for repairs as needed. • Review with you our Integrated Marketing Strategy.
DEVELOPMENT & IMPLEMENTATION OF OUR INTEGRATED MARKETING PLAN • Develop and implement our marketing activities to ensure that your property receives maximum exposure to the broadest possible audience. • Include your property in the Multiple Listing Service and show the property to all prospective buyers. • Include your property on pattersonschwartz.com and various other real estate based websites. • Review with you the results of our marketing efforts on an agreed upon schedule. • Communicate with you based on your desired means and frequency of communication. • Modify our marketing plan and pricing strategy based on what the market tells us.
PRESENTATION OF OFFERS & ACCEPTANCE • Present all offers to purchase your property. • Review the document with you and clarify all terms and conditions. • Assist in qualifying the purchaser to determine the strength of the contract. • Prepare and provide a “net sheet” reflecting your estimated expenses and proceeds based on the contract offer. • Assist in negotiations and counteroffers until there is an acceptable contract on your property.
THE PATTERSON-SCHWARTZ PROCESS
CLOSING THE TRANSACTION • Ensure that you have received all documents pertaining to the transaction. • Deposit the buyer’s earnest money into an account. • Keep you informed of all inspections and reports. • Ensure all contingencies are met and removed within the time limits provided. • Attend buyer’s final walk through of property, if applicable. • Ensure all documents are ordered and prepared for closing. • Attend closing with you or coordinate delivery of proceeds to you.
AFTER SETTLEMENT • Maintain a record of your documents. • Ask you to complete our customer satisfaction survey to let us know how we did. • Be a resource for any questions or concerns after the closing. • Provide you with resources for other home related services through Home-Link. • Always be available to assist you with any future real estate needs!
FIRST IMPRESSIONS
HOW WILL A BUYER SEE YOUR HOME? In today’s real estate market, your property must make the best possible first impression to help it sell more quickly and for the highest price. Use this checklist to help ensure that your property is ready for the market. INSIDE APPEAL: • Clean windows inside and out until they sparkle. • Carpets should be clean and free of spots. • Dust and buff hardwood floors so they shine. • Put high wattage bulbs in lamps and light fixtures. • Bathrooms should sparkle. • Clean ash and burnt wood from all fireplaces. • Keep strong odors to a minimum, such as cooking, pets, and, of course, smoke. • Organize all visible shelves, cabinets and hutches. • Be sure plumbing fixtures are free of drips and leaks. • Clean all kitchen appliances. • Remove, repair or secure any loose flooring or carpet. • Dispose of any debris that has collected in basement, attic and garage. • Seal basement walls, paint floor and run dehumidifier, if necessary. • Change filters on heating and air conditioning systems. • Store all tools and yard accessories neatly. • Organize closets, cabinets, vanities and other storage areas. • Cut flowers always offer a welcome touch. • Consider removing garish wallpaper, window treatments and/or floor coverings.
FIRST IMPRESSIONS
OUTSIDE APPEAL: • Check all screening and replace or repair if necessary. • Scrape and paint areas that are peeling or flaking. • Replace any rotted trim or window sills, broken glass, etc. • Replace or secure twisted or loose boards on deck. • Seal driveway, if necessary. • Clean exterior light fixtures and be sure light bulbs work. • Make sure front entrance is sparkling and welcoming. • Be sure down spouts are facing away from house. • If the season permits, blooming flowers always add a touch of warmth. • Trim shrubbery and make sure gardens are weed free. • Keep grass mowed and trimmed nicely. • Edge the borders of the yard along, walkways and driveway. • Know the age of the roof (if possible) and do any needed repairs. • Locate the site of your septic system and well. You may want to have them inspected before the marketing process so there won’t be any surprises down the road.
A nominal investment of time and money to prepare your home for sale makes a
significant difference!
ENHANCING YOUR HOME’S MARKETABILITY
THINGS TO CONSIDER TO MAKE YOUR PROPERTY STAND OUT FROM THE REST! In addition to preparing your home for sale, there are a few additional steps that can enhance the salability of your home and provide potential buyers with peace of mind.
HOME WARRANTY The age of home appliances and systems are often a cause for concern on the part of a potential homebuyer. A home warranty can be purchased to provide repair or replacement coverage for such items and remove this potential distraction.
HOME INSPECTIONS A prospective buyer’s concern about the current condition of a home can also interfere with a potential sale. Professional inspections, such as structural, roof, termite, pool and septic can be performed prior to marketing your home to alleviate concerns. These also help to identify problems that would need to be addressed later, and give you the opportunity to correct them.
NEVER MISS AN OPPORTUNITY...
... to make a great first impression! As soon as your property is exposed to other real estate professionals and prospective buyers, it’s time to ensure that every showing or Open House presents your home at its best. We offer these tips based on observations from our years of experience working with home buyers.
INSIDE YOUR HOME: • • • • • • •
Clear off all counters and tabletops. Remove clutter. Be sure all beds are made. Turn on soft music and all lights; turn off the television. Open windows to air out any stuffy rooms. Open all drapes, curtains and blinds for desired brightness. Bake bread or cookies; the aroma is pleasing. Avoid unpleasant cooking odors. • Set dining room table. • Leave the house during the open house. Let your Patterson-Schwartz Sales Associate sell your home.
OUTSIDE YOUR HOME: • • • •
Pick up tools and toys. Put garbage cans in garage. Close garage door. Park cars on street or around corner.
TO MAKE THE MARKETING PROCESS EASIER: • Make showing appointments as easy as possible. • Try not to be home during showings; this will give prospective buyers an opportunity to feel comfortable and imagine the house as their own. • Make keys accessible for all doors, so agents can open all entries. • Control pets so they do not disturb showings of your home.
MARKETING PLAN OF ACTION
FIRST WEEK ON THE MARKET • Take property photos and prepare property information • Create virtual tour/slide show • Enter property information into Patterson-Schwartz intranet & local MLS • Enter property information & photos in pattersonschwartz.com and submit listing data to 30+ other nationwide real estate based websites • Create individual property web site • Install Lock box • Install “For Sale” sign • Review showing tips & Appointment Center process • Prepare printed flyer/brochure • Schedule Open House
SECOND WEEK ON THE MARKET • Review feedback from buyers and agents who have viewed property • Review Marketing Service Report with sellers • Schedule Open House • Evaluate direct mailing or print advertisement options
THIRD WEEK ON THE MARKET • Review feedback from buyers and agents who have viewed property • Review Marketing Service Report with sellers • Evaluate direct mailing or print advertisement options • Schedule Open House
ON-GOING • Show property to prospects and hold Open House • Review feedback from buyers and agents who have viewed property • Review Marketing Service Report with sellers • Review price based on results to date, agent input, showing feedback and market conditions
Additional marketing tactics may be employed, based on your property and the market conditions in your area.
TEAMWORK
We’re an unbeatable team! Working together, we can position your home to sell for the best offer as quickly as today’s market allows. Once we list your property, we encourage your active participation in the selling process.
AS THE SELLER, YOU CAN HELP BY: • Maintaining your home in a ready to show condition. • Being flexible in the scheduling of appointments to see your home. • Ensuring that your property is easily accessible to real estate agents (lock box and key). • Letting me/us know if you will be away from home for any extended time in case an offer is received. • Removing or locking up all valuables, including jewelry, cash and prescription medicines. • Vacating your property, if possible, while it is being shown. • Taking pets out of the house or securing them in a pen during showings. • Being cautious about saying anything around a buyer or real estate agent that might weaken your negotiating position – especially regarding your reason/urgency to sell or price. • Collecting the business cards of real estate agents who preview or show your home. • Not allowing unrepresented buyers into your home. • Providing updates regarding any changes in the condition of your property that may need to be disclosed to a potential buyer. • Being available to review the results of our marketing efforts and market feedback to reposition your home as needed. • Contacting me/us at any time with questions, concerns, or observations.
WHAT TO EXPECT
Working from our extensive knowledge and negotiating expertise, when an offer to purchase your home is received, your Sale Associate(s) will: NEGOTIATE THE AGREEMENT • Thoroughly review the offer with you to ensure that you understand all of the terms and conditions. • Assist you in determining the best course of action by analyzing the pros and cons of the offer. • Prepare an Estimate of Net Proceeds based on the offer. • Negotiate through the buyer’s agent and deal with potential counteroffers with the goal of reaching the most favorable final agreement for you.
SERVICE THE TRANSACTION • Review with you the steps that occur from acceptance of the offer to closing. • Keep the transaction moving forward by working with the buyer’s broker, settlement company, title company and other parties to coordinate activities as needed. • Monitor progress of inspections, the buyer’s mortgage approval and other such contingencies per the sales agreement. Assist in resolving questions or problems that arise expeditiously to ensure a timely closing. • Assist you with all preparations and information required for closing. • Attend closing with you or on your behalf. • Communicate with you by your preferred method and frequency.
AFTER SETTLEMENT • Maintain a record of your transaction. • Follow up with you to offer assistance with any questions or concerns. • Ask you to complete our customer satisfaction survey to let us know how we did. • Provide you with resources for home related services. • Be available to service your future real estate needs.
CAPTURING YOUR PROPERTY’S HIGHLIGHTS Including information about your home, its SPECIAL FEATURES, recent IMPROVEMENTS, and AREA AMENITIES is helpful in the marketing of your home. It enables the buyer to become more familiar with your property and gain a better understanding of the area. Please tell me about your home: 1. Why did you buy this home? What special qualities or features attracted you to the home and area?
2. What features does your property have that differentiate it from other similar properties?
3. What improvements did you make to the property?
4. What changes or enhancements do you think would make your property more salable in today’s market?
5. What do you feel are the most attractive features of your neighborhood and location?
6. Are there any specific features that should be advertised or de-emphasized?
7. Are there any known issues or problems with your property or surrounding area that need to be disclosed to a potential buyer?
RECOMMENDATIONS
... for a Competitive Property In today’s market, presenting your property at its best cannot be over-emphasized! Buyers are focused on condition and may see any negatives as an opportunity to offer less than list price should they have interest in your home. The following enhancements will help position your property competitively. Property Address: Exterior:
Kitchen:
Bathrooms:
Entry/Living/Dining/Family Room:
Bedrooms:
Garage/Basement:
Other:
EXCEEDING YOUR EXPECTATIONS! It’s not just our business philosophy, it’s how we measure our success. Understanding your OBJECTIVES, PRIORITIES and NEEDS are equally as important as the marketing and pricing of your home. To ensure that we deliver an exceptional real estate experience, please take a moment to answer the following questions:
MOTIVATION
Why are you considering selling your property at this time?
TIME FRAME
Is there a certain date by which the sale of this property needs to close?
PRICE
Do you have specific expectations as to the selling price of your property? If so, what have you based this on?
Are you seeking a certain amount of net proceeds from this sale?
MARKETING PLAN
Are there specific activities you expect to see included in the marketing of
your property?
COMMUNICATION staying in touch?
How often do you want to be contacted? What is your preferred way of
EXCEEDING YOUR EXPECTATIONS! HOME SELLING EXPERIENCE
If you have prior home selling experience, were there any issues that arose last time that you hope to avoid this time?
If you are selling your first house, are there any problems or concerns you are worried about?
EXPECTATIONS
What are your expectations of me as your real estate professional?
What specific services and support do you look forward to receiving from me?
OTHER COMMENTS OR CONCERNS
To ensure that we build a strong working relationship, please let me know if there are any other matters as they relate to your home-selling expectations that I should be aware of.