Agent Recruiting Presentation

1
Hedges Real Estate Inc.
Introduction to Tape 9 Pricing Presentation
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Key Ideas

• Get info from Douglas-County.com/value
• Legal Description
• Starting point on price
• Owners full legal names
• Douglas County Appraisers Office 832-5290
• City Clerk 832-3200
• City Hall 832-3000
• Register of deeds 832-5282
• Zoning 832-5293

3

• Reminder
• Douglas County has set us up on their IT system
  which will allow us to check deeds, covenants,
  court records, taxes, appraisals, lot sizes etc.
  online.
• Web address ishttp// dgcoaccess.douglas-county.
  com
• Our confidential login ID ispbhedge1
• Our confidential password isshine

4

• Researching Price
• Use Voyager to search for 5 to 10 comparable
  properties based upon area, bedrooms, baths,
  garages
• Square Footage on main and second level are most
  important
• Basement Square Footage has less value
• Adjust for differences
• Delete the highest sold comparable
• Delete the lowest if needed
• Print a report showing Sold Comparables, Active
  Competition, Average Price Range Spread Sheet
  etc.
• Present your CMA be prepared to be flexible.

5
Importance

• All the marketing in the world wont sell an
  overpriced listing.
• A listing priced right is half sold.
• You must have the skills of getting your listings
  priced right. These skills come from research
  and practice.
• Youll be able to create a faster sale and build
  a professional reputation if you price listings
  right from day 1 of each listing.

6
Key Ideas

• Save pricing for last hopefully after the
  seller has already committed to working with you.
• When doing a CMA, throw out the highest priced
  comparable sale. Every once in a while, a crazy
  buyer will overpay for a house, so you dont want
  to use the highest priced sale because you might
  not be able to find another buyer just as crazy.
• Season? Homes sell for less in Fall Winter.
• The higher the price, the more money you lose in
  marketing expenses. The faster a property sells
  (by starting with a fair price), the more you
  make!

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Key Ideas

• Sit on the same side of the table/couch as the
  sellers when doing the pricing presentation.
• Emphasize over and over again that the market
  determines the price.
• You are helping them X-Ray the market to help
  them determine the appropriate starting price
  that will help them get a reasonable number of
  showings to generate offers in a reasonable
  amount of time.

8
Key Ideas

• Remind the seller that buyers in the market today
  will push the price the appropriate direction.
  If we price it too high, we get no or few
  showings and no offers. If we price it just
  right, we will get normal activity of a few
  buyers a week. (Remind sellers that a showing or
  two a week is normal).
• A low price can create a buying frenzy and get
  offers of more that list price show MLS
  examples of selling prices more than list.

9
Key Ideas

• If they take your price recommendation, then
  great! List it an go. If they want a higher
  price, you have to determine whether it is worth
  investing your own marketing dollars (your
  profit) into advertising an overpriced listing.
• At least get the sellers to commit to a price
  reduction within two weeks if they wont list at
  your recommended price range.

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Key Ideas

• Now that you have the home listed, start
  overwhelming them with excellent service.
• Be sure to fill out the MLS Profile sheet with
  appropriate showing instructions.
• Give sellers copies of all papers. Ask them to
  review and correct any errors on the MLS Profile
  sheet.
• Take 9 pictures of the property inside and out
  and have office staff upload pics to MLS and our
  web sites.
• E-mail copy of MLS data sheet to your seller.
• Ask for referrals now.
• Call them at least once a week. Send copies of
  ads.
• More in Keeping Sellers Updated slides

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Watch Pricing Presentation Video 30 Minutes