selling your home today

Selling Real Estate TODAY

Photos by Maria Morton

Weeks 1 2 3 4 5 6 7

Qualified Buyers looking at homes for sale as they come on the market

The first month is when the most buyers and agents view the property. This is the time most likely to generate the highest and best offer.

Show

ings

& P

revi

ews

Maria Morton in Kansas City


Who Are Buyers?

53% of first-time buyers were 25-34 years old while

most repeat buyers were 35-54 years old.

34% of homebuyers in 2012 were under 35 years old.

47% of all homes purchased in 2012 were

bought by first-time buyers.

*from NAR study



Where do buyers learn about the home they purchase?

Buyers Find

InternetReal Estate AgentsYard SignsFriends & RelativesHome BuildersNewspaper & MagazinesSeller Direct

2%

36%

36%

12%

6%

2%

2%


So, of all the agents in KC, why choose to work with Maria Morton?

No other agent can market your home as well as Maria. Her web presence is unmatchable in Kansas City. #1 Kansas City; #5 in Missouri; unranked but highly visible in Kansas (can’t be ranked in two states).

Clients say “Maria… …went above and beyond our expectations.”…not like any other realtor I have ever worked with.”…sound recommendations...proactive...sold quickly.”

Other agents ask her for marketing and advertising advice.


93% of first-time buyers began their search on the internet before contacting a real estate professional. *NAR study

87% of repeat buyers began their search on the internet before contacting a real estate professional. Maria’s web presence helps sell your home. *NAR study

The Red Dots indicate people reading Maria’s blog:


Maria uses her International networks, luxury real estate networks, investor networks, as well as local connections to get the word out.

A great agent +

A familiar, trusted brand

#1 in KC; #5 in MO on the largest professional real estate network in the world.

Memberships & earned advanced designations open more networks

Maria adds data & photos to various websites, blogs, and forums daily over the first two weeks a new listing is on the market. Tweaking and massaging gets the ‘bots attention which increases SEO.


All listings from All Brokerages go in our professional MLS.


Unlicensed, unregulated, site aggregators:

…and all other brokerages.

Heartland MLS is the professional tool used by agents in our area to keep each other updated on listings’ status changes. Members must abide by the rules so information is accurate. We will also advertise your property for sale on multiple other sites including:

Social media sites, professional networking sites, and

We will use all traditional & non-traditional tactics that may be effective to sell a home in your neighborhood.


Marketing in the virtual world is essential today but we also must market to agents and buyers IRL (in real life).


Local connections are just as important as national and international connections. Your home is advertised to key agents who do business in your neighborhood as well as to all agents who are currently working with buyers for a home like yours.

Maria has served on KCRAR committees for years. This is more professional networks that can be used to sell your home.

Reverse MLS search to identify buyers and agents currently looking in your neighborhood.

Business & social events with other agents who may know of a buyer for your home.

Snail mail and email to neighbors and potential move-up or down-sizing buyers.

Local facebook groups and other social networks


Agent Tour happens every Tuesday. Dozens to hundreds of homes may be on tour.

Agents from ALL offices in All brokerages go on tour.

Lunch Tour usually runs from 11am-1pm. Agents save time eating while previewing.

Some listings will offer drawings for prizes. This can help draw more agents in to see the home.

Each agent selects the homes they need to see, plans their route, and goes to as many as possible during the 2 to 4 hours allotted for Tour.

When your home goes on tour, we’ll send out email invitations to target agents and hand deliver flyers to the offices nearest your home.

Advantage to you:

___Being in the home often triggers an agent to think of a buyer who fits the home.

___The home comes quickly to mind when an agent meets a new buyer who describes wanting a home like the one they just saw on tour.


40,000,000 monthly readers

Exclusive access to 100 Million+ in Meredith’s subscriber database

7 Million monthly visitors to www.bhg.com - just 2 clicks to your home!

Consumers associate quality with the brand.

The 7 Factors That Determine How Fast A Property Will Sell:

1.Timing2.Location 3.Condition*seller controls

4.Marketing*agent controls

5.Financing ~seller may offer incentives to buyers

6.Competition7.Price*seller controls


Comparison Shopping


Buyers choose a home by

Balance

Condition Price


Staging to SellStaging a home to sell is not decorating.

Staging is using the senses of sight, sound, smell, touch and taste to lead the buyers through the home focusing their attention where you want it to go – even when you are not there.

A staged home may not feel as comfortable to you as the way you have your home set up to live in.

Staging is all about getting the house sold.

I will work with you to get your house ready.


Keeping the home sparkly clean while it’s listed increases the likelihood of a buyer writing an offer.

Organized, uncluttered closets, counters, and cabinets make the home feel more spacious.

Maintaining the exterior of the home makes it more appealing.

Remove pets so buyers who are allergic or phobic can come in.

Ask your agent if any repairs need to be done.


Showings

Appointments are made by cooperating agents through CSS. If you happen to be in the home when the buyers & their agent arrive, please just grab your keys and go.

Allow the buyers to experience the home as theirs so they will want to buy it.

Your agent will call you when they receive feedback after each showing. Feedback is sometimes given immediately while other times, it may be the next day.


An iBox holds the keys to your home while it’s listed.

Each time the iBox is opened, a computer records the time and name of the person who opens it.

Only licensed members of KCRAR & HMLS can open an iBox. The iBoxes are made by GE. Each agent member also leases an eKey. eKeys have secret codes and must be updated every night to work so unauthorized persons may not operate them.


Once a buyer makes an offer to buy your home

There are a series of events that precede closing.

Verification of buyer’s financial ability NegotiationsInspectionsResolution of Unacceptable ConditionsAgreed upon repairs, if any Lender appraisalFinal loan approval & underwritingDocument preparationTitle checks & lien releases preparedTransfer of utilities scheduledReview Final Settlement StatementDocuments signed & recordedFunds transferred


NegotiationsA knowledgeable, experienced agent is invaluable during negotiations.

Maria is a skillful negotiator with a slew of strategies and techniques in her arsenal. Tell her what you want and she’ll work on getting the best deal.

We will, as far as possible, maintain good will with all parties involved in your transaction.


Diplomacy is the ability to tell a man to go to hell so that he looks forward to the trip. ~Old Irish Proverb

CommunicationCommunication between the Seller and their Agent is vital to the success of selling your home.

It is imperative that you return phone calls, emails, and texts from your agent ASAP.

Time is of the essence in real estate transactions. Once under contract, Maria will keep you informed of deadlines within the contract. During negotiations, she will be available at all hours so that we can get the home under contract.


We may use electronic signatures to complete all or part of the Contract to sell your home. Maria will help you if you are unfamiliar with e-signatures.

Inspection Period

The buyers may conduct Whole House, Termite, chimney, radon, drain line, structural, and other inspections as they choose.

Your agent will coordinate access for the buyer’s and their agents. It is best for the Seller to be away from the home during inspections.

Resolution of Unacceptable ConditionsThe buyers may ask you to repair any items noted on the Inspection Reports.

The seller may choose to Accept the resolution; Reject the resolution; or Counter with a compromise.

We will negotiate a fair and equitable agreement so that the sale can continue to Closing.

Or, we will look for another buyer.


Resolved & Moving Toward ClosingOnce the seller & buyer agree on the Resolution, the Title Company and Lender (if the buyer is using a mortgage) can begin their work.

The Agents will send copies of the contract to everyone who needs one.

The Title Company will run the title checks and begin preparing Closing documents.

The Lender will order an appraisal.

If the home appraises out, the Lender will begin final loan approval process and send to Underwriter.

Your Agent will monitor progress over the next few weeks so that you can close on time.

You can begin packing & moving now. Remember to transfer the utilities.


Lead Based Paint Addendum

Prior to 1978, all paint was manufactured with lead. Lead, if ingested, has been shown to cause brain damage, learning disabilities, and other health problems.

A Lead Based Paint Addendum is required to be part of the contract on all homes built before 1978.


Seller’s DisclosureBy law, known physical defects must be disclosed. The Seller completes the Seller’s Disclosure to the best of their knowledge.

Remember that buyers feel more confident in buying a home when the Seller’s Disclosure is full of information. They feel that the owners are being honest and upfront with them about the true condition of the home so they are not ‘buying a lemon.’ If you have made any improvements or repairs to the home, make a list on a separate piece of paper and I will attach that to the Seller’s Disclosure.

The Agent uploads the Seller’s Disclosure into the Agent portion of MLS for easy access to Agents representing qualified Buyers.

The Seller’s Disclosure becomes a part of the Real Estate Contract to Purchase when we receive an offer. Maria Morton in Kansas City

Agency AgreementsSellers contract an agent to help them by signing a Listing Agreement. Buyers contract an agent to help them by signing a Buyer’s Agency Agreement.

If we decide to work together, Maria will be your Designated Seller’s Agent.

Your Agent is your professional advisor, negotiator, and transaction manager. Agents are also responsible for marketing and advertising.

The client is responsible for completing the Seller’s Disclosure, keeping the property ready to show, and notifying their agent of any changes which might affect the ability of the property to be sold.


Commission ?5% …10%?

Some sellers use higher commissions and/or incentives as a strategy to increase showings.

Commission is determined by the Listing Agent & Seller. The Listing Agent offers a portion of that commission to the Cooperating Buyer’s Agent – aka Co-Op.

Commission is paid at Closing. Better Homes & Gardens Real Estate - Kansas City Homes charges an Administration Fee of $210/side/transaction. Maria Morton in Kansas City

Where commission goes

There is no ‘standard commission’ as that would be called price fixing which is illegal. Please refer to the Sherman Anti-Trust Act.

Listing your home for sale

We need:• Signed Listing Agreement• Seller’s Disclosure• Other applicable addenda• Existing Mortgage Request• 2 sets of keys• Garage door code • Alarm code


Listing Price Determines Buyer Demand

Percentage of Buyers who will view property

Price as compared to Value

+20%

+10%

Market Value 60%

-10%

-20%

10%

30%

75%

90%


The Five (5) Fatal MistakesMost Home Sellers Make When Pricing Their Home

1. Sellers often price their home based on “need” rather than the market.

2. Sellers use the ‘wrong’ properties for comparison when pricing.

3. Sellers build in a ‘negotiating cushion’ and then have no one with whom to negotiate.

4. Sellers take advice from ‘well meaning’ but uninformed parties.

5. Sellers allow positive emotions about their property to influence their pricing decisions.


The Absorption RateThe Absorption Rate

For Sale

Sold

-Minimum Competition-Reasonable Demand-- High Absorption Rate

-Extensive Competition-- Minimum Demand-- Slow Absorption Rate


Who controls the marketplace?

Condition = Seller

Asking Price = Seller

Marketing = Listing Agent

Property Value = Buyer

Buyers determine value by comparison shopping.


The Wrong Price Attracts The Wrong Buyers

$300,000Property

List Price $360,000

Buyers won’t look.$300,000 buyers won’t look at houses above their price range.

Lookers won’t like!$360,000 buyers won’t like the house nor make an offer.


Your home is not more valuable just because you need more money.

Listing too high will not bring offers to negotiate.

Listing too high will keep your home from selling.

Listing at fair market value will elicit offers.

Listing slightly below market value may produce multiple offers. Ask your agent if this may be possible with your home given it’s location & condition.

Your agent will give you factual data to determine value.

Your agent will give you the benefit of their knowledge & experience to help set a realistic list price.

Your agent will offer suggestions on ways to make the home more attractive. Some things you & your agent can do. Staging may increase the final sale price & decrease the number of days on market.

The Risks of Overpricing

Reduces Sales associate activity

Minimizes advertising responses

Loses interested buyers

Attracts the ‘wrong’ buyers

Discourages or eliminates offers

Can lead to mortgage rejections

Helps sell the competition

Property gets a ‘reputation’ (stale)

Later price reductions tend to cause low or delayed offers

$300,000

$284,000

$269,000

$250,000

$241,000

Started too high

Waited too long

to correct

Chased the market

down to below

value sale price

Lost tens of thousands of dollars due to bad tactical decision


In the FLOW10%

30%

60%

THE POND CURRENT HOUSING MARKET

This is one of my favorite tools to illustrate what the current inventory of houses looks like. This diagram was created by Zan Monroe, a leading inspirational speaker and author. His artwork is better but the message is still clear, isn’t it?

When you put your home on the market, where do you want it to be?

In the SHOW

The Stagnant Masses

New listings enter the pond Sold listings exit the pond

Sell quickly

Showings but no offers

Languish on the market for months unsold. Showings drop off to zilch. People wonder “What’s wrong with that home?”

Maria Morton 816.560.3758

•Critical time to price right.•Be ready for a “fast sale”

Mar

ket A

ctivi

ty

Time on the Market (Weeks)0 1 2 3 4 5 6 7 8 9 10 11 12

MagicMonth

The longer a home is on the market, the less likely it is to receive a full price offer.

Choosing Your Price Points

Aspired Price = $______________ Highest price you could reasonably hope that a prudent buyer would pay for your property?

Acceptable Price = $____________While hoping for more, what price would still be acceptable?

Walk Away Price = $____________ What is your bottom line?


Market Launch Date: ____/____/2013


So, of all the agents in KC, why choose to work with Maria Morton?

Maria is easy to work with and provides innovative and effective strategies for selling your home.

Maria is not like the agents who ‘sell’ you just to get their name on the sign in your yard. Maria actually focuses on her client’s goals and sells their home in a timely manner for a fair and equitable price so that they can move to the next step in their lives.

Clients say “Maria… …went above and beyond our expectations.”…not like any other realtor I have ever worked with.”…sound recommendations...proactive...sold quickly.”