
Hi Elliot and Aileen, Thanks for taking the time to meet last weekend for a home sale consultation—and for the opportunity to do a walkthrough of your home recently. I've prepared the following Home Valuation Analysis Presentation for you to look through. If at any time, you have any questions or concerns, please call, text or email me. - Christian Harris Managing Broker Sea-Town Team | Powered by eXp Realty 206.276.9744 ChristianHarris@Sea-Town.com
Bottom Line Up Front - Pricing Strategy
After looking at the condition and updates of your property and comparing it to other properties that are pending and sold in your area (based on a 1 mile radius and similar square footage +/- 20%), the data shows me that if we list your house at $650,000 - we will be able to leverage the current market trends to get your home sold for the most money, in the least amount of time... and based on the average of 4% that similar prices are selling for OVER their asking price, there is a strong likelihood that we would receive multiple offers and your home would sell for between $660,000 - $700,000. The average Days on Market (DOM) in your area is 4 days and properties are on average selling for 4% over the list prices... if they are priced properly. Taking that information into account, if I help you position your home in the best-light to the ideal buyer, and market it properly (which of course I will), It's quite possible that we'll receive multiple offers and get your home sold for you higher than my list price recommendation above. Please reference the attached Comparable Market Analysis PDF, for a breakdown of the most recent relevant market activity in your area and what it means for our pricing strategy of your home. It's worth noting that all our sold comps are from last year (cooler market) and I called on the Pending property to see how much it's pending for (which isn't reflected on this PDF) but the received 5 OFFERS and it's pending for $761,000!!! That's $121,000 OVER ASKING PRICE!!! Now, there is no way that it will appraise at that price but apparently the buyer waived everything, so that will be a strong comp and tells us that THERE ARE 4 OTHER BUYERS THAT DIDN'T GET THEIR OFFER ACCEPTED WHO WANT TO BE IN YOUR NEIGHBORHOOD! (To view/download attached document, click on image and "download" button on the right)
Comparable Sales Data
I obviously can't predict the future, but I do know how to help clients prepare their homes and how to market them. These will guarantee top dollar in any given real estate market. The attached comparable sales data is based the most recent market activity in your neighborhood, using the same properties in the more aesthetically pleasing Home Valuation Analysis above (some people just want to see the data). These are organized by Active, Pending and Sold homes. (To view/download attached document, click on image and "download" button on the right)
A Closer Look At The Competition - Pictures of the Comps.
Location, condition, updates and views all play significantly when determining the value and what a Buyer is willing to pay for a home. I've put together a PDF of all the listing pictures from the comparable properties I used to determine the market value of your property above. Feel free to take a look through the attached (and rather long) PDF to get a good feel for which properties have views or have modern kitchen and bath remodels. You can then cross-reference the above reports to see how those factors affected the sale price and what a buyer was wiling to pay (vs. homes with no views or that haven't been remodeled). (To view/download attached document, click on image and "download" button on the right)
Walkthrough Summary
As we discussed during the walkthrough, these are my recommendations to maximize the "curb appeal", initial buyer impressions and ultimately, the sale price of your home: • Call the city and get the final inspection for the permit sign-off. • I would recommend having the carpet professionally cleaned (I've got a recommendation for you) and hire a cleaner for a "move-out cleaning" once it's vacant but before the staging is delivered. Other then that, it's really a nicely updated property and in great shape and will show well.>> • Paint touchup were needed. • Clean the decking real good • Any other cheap cosmetic fixes that you think of that you know are needed and that would appeal to buyers. • We'll want to take into account what works best for your timeframe, but generally speaking, I would recommend listing sooner than later. Preferably in April and not wait until May, if at all possible. This is primarily because I know there are motivated buyers who made offers but not had them excepted on properties just like your house in your neighborhood... and the longer we wait, the more likely they will find and buy something else... not to mention, the peak of the market is in May, and we don't want to miss it. • I'm also a bit unconventional in that I DON'T recommend doing Open Houses, unless the Seller is living in the property during the listing period because doing open houses can make it easier on the Seller to not have to receive so many showing requests from Buyer Agents. In this day-and-age, the vast majority of Buyer's will find & view your property online first and if they are a serious Buyer, they will have an Agent who can show them the property (or if nothing else, they can get ahold of me to show them the property. (There is no link or PDF for this section)
The Danger of Overpricing
Statics and market trends show that listing your home on the lower side of fair-market value will generate more interest and a quicker sale time for higher—as opposed to listing at a higher price, which statistically will result in less interest, longer time on market and eventually a lower selling price. It's ALWAYS better to list lower than higher in a Sellers Market. BE VERY CAUTIOUS OF OTHER AGENTS SAYING YOU SHOULD LIST FOR A PRICE MUCH OVER WHAT I'M RECOMMENDING! I see it all to often where other agents will ignore the market data and over promise on what a home owner can sell their house for (so they can "win the listing" when the owners are interviewing multiple agents) but then once it comes on the market, it gets little interest and no offers because it's over priced... and then the price reductions start and it ends up selling for way under what was promised, if it sells at all. Let the market data determine what Buyers are willing to pay for your home... not an over confident real estate agent who is just trying to "win" your listing. The linked article explains the importance of pricing really well, by dispelling 7 popular myths about pricing a home to sell... (Clicking on this image will open the website article link)
Our Complimentary Home Seller Services
In order to provide the best client experience and end results possible, these are the complimentary services we provide to our home sellers: • House pre-inspection w/ report (about $450-$550) • Staging design consultation and house staging ($3,000-$10,000) *optional & may affect commission rate • Professional photography ($400-$500) • 3D walkthrough scan ($300-$400) • Dedicated property website ($100) • List the property online, create marketing materials and market the property to the target buyer audiance (including targeted paid social media campaigns to maximize exposure of your property). (To view/download attached document, click on image and "download" button on the right)
How Much Will You ACTUALLY Walk Away With - Seller Net Proceeds
It's great to talk about the projected sale price of your property but what really matters is how much you will actually make AFTER you account for paying off your mortgage and the other costs of selling (generally estimated to be about 10%). Please see attached Estimated Net Proceeds Sheet for the breakdown of costs and total profit (based on the projected sale price of your property, of course). (To view/download attached document, click on image and "download" button on the right)
Preparation Timeline and Listing Process
The specifics of the timeline will obviously vary, depending on which option you decide to go with (vacant, occupied or staged). The below timeline is an EXAMPLE and we can change it based on what list-date and timeframe works best for you and your situation. During our meeting we discussed a TENTATIVE LIST DATE of April 28th. • (As early as possible) - House pre-inspection & Sewer Scope • (As early as possible) - Staging/Design Consultation • March 28 (30 days before list date) - Sign the Listing Agreement and Listing Input Sheet • April 22 (6-7 days before list date) - House cleaned & yard maintenance done • April 23-24 (4-5 days before list date) - Staging delivered and installed • April 25 (3 days before list date) - Professional Photography & 3D Scan • April 28 - List Date - HOUSE GOES ON THE MARKET • May 2 (5 days after list date) - Offer Review Deadline / Receive offers and accept offer • June 1 - Roughly 30 days after offer accepted - House sale closes * PLEASE LET ME KNOW IF THERE ARE ANY ISSUES WITH THE TIMELINE OR DATES ABOVE. We can adjust as necessary. (To view/download attached document, click on image and "download" button on the right)
The Sea-Town Difference In Serving Our Clients
I believe that life is about making a difference — a difference for our clients, for our agents, and ultimately for our community. I lead from the front by setting the standard for my other agents on my team through encourage and empowering them to be the best they can be, in always doing the right thing and being true advocates for their clients. Personally, I know homes and real estate inside and out. In my previous career, I was a professional finish carpenter and high-end home remodeler for 15 years before starting my real estate career in 2013. Only a few years into having my license, I founding Sea-Town Real Estate, an Independent real estate brokerage in West Seattle and I now operate as the Managing Broker and team leader of The Sea-Town Team. (Clicking on this image will open the website link for my bio)
Giving Back to the Community
If you are not already aware, part of our ethos is serving not just our clients but the greater community. We donate a portion of each of our real estate commission proceeds to a charity of our client's choice. Providing you do decide to use us to help you sell your home, do you already have a charity in mind that you would like us to donate to at the close of the house sale? (Clicking on this image will open the website link for our "giving back" page)
What's Next...?
I hope all this gives you the information you need to best determine your options and help make sense of what is typically kind of a crazy process... I'm here to walk you through it and take as much of the burden off your shoulders as I can. LETS SETUP A ZOOM CALL (Which you can schedule directly through the link below) TO GO OVER THIS PRESENTATION, ANSWER ANY QUESTIONS, AND FINE TUNE OUR PLAN OF ATTACK / TIMELINE. (Clicking on this image will open my meeting scheduling link)
I look forward to working with you through this journey and as always, call or email with any questions. Best wishes, - Christian