1

Marketing Plan4106 Stuart

Lacy WilliamsJoyner Fine Properties

www.RichmondHousingToday.com804-864-0316

2

Keys To Selling a House Today

1. Staging and condition of house

2. Price

3. Marketing Plan

A Diamond and A Deal!!!

3

1. Staging and Condition of

House

4

Staging Your House

• Rule #1: You can’t sell it if you can’t see it

• Rule #2: Get rid of the clutter. Look like a model homeBEFORE AFTER

5

Staging Your House

• Rule #3: Raise the Blinds and turn on all lightsBEFORE AFTER

• Rule #4: Rooms with Furniture are Better than Empty Rooms

6

Additional Staging Ideas

• Curb appeal is more important. If you can’t get them inside, you can’t sell it.

• First impressions are most important – focus on the entrance

• Use Plants inside and out at front door and in living areas. Have flowers on the dining room table.

• Landscaping is important – trim overgrown bushes, cut grass and put in new mulch

• Get rid of smells (Dogs, cats, cigarettes)• Depersonalize• Float the furniture• Repurpose unused rooms• Less is more• Additional ideas are on my web site,

www.LacyWilliams.com.

7

Maximizing the Value of Your Home

• I will help you stage your house to sell• I can coordinate service people including

cleaners, painters, contractors, etc.• Clean and put away (Smart Box, PODS to store

unneeded things)• Remove excessive furniture• Repair electrical and plumbing issues• Fresher up the paint – neutralize• Buyers need a blank slate and a neutral palette

to be able to see themselves and their things in the house

8

Staging Ideas

• For more staging ideas, go to www.stagedhomes.com.

9

2. Pricing

Remember The following:2012 is not 2007!!

10

Pricing Your House

• Agents do not establish market value, they show and market. Buyers buy.

• Buyers dictate the market value of your home• Buyers engage in comparison shopping• Buyers may not like your colors, finishes, etc• A Buyer will not pay more for one property than for another similar

property• Competitive Market Analysis

• A competitive market analysis will show you what buyers are willing to pay for similar properties

• Also shows you what they have not been willing to buy that is currently on the market

• Focuses on other properties which are competing for Buyer’s attention

11

Pricing Your House

• Factors that Do Not Affect Your Property’s Value– What you paid when you bought the house – What you put into the house

• Replacement of maintenance items• Additions, upgrades etc

– What you “Need” to get out of the house– The assessed taxes– What an appraiser or a real estate professional says the

property is worth

12

The Overpriced Listing

The Overpriced Listing

$250,000$240,000

$230,000$220,000

$210,000$200,000

$190,000$180,000

100,000

120,000

140,000

160,000

180,000

200,000

220,000

240,000

260,000

1 2 3 4 5 6 7 8

Months on Market

List

Pri

ce

• House should be priced at $200,000

• Seller says “Lets just start it higher and see what happens

• Each month Seller reduces the price and continues to pay mortgages and expenses

• Seller gets mad at agent!

• House becomes “tainted” and price continues to fall below the “right price”

• House finally sells below what it should have sold for

The right price

13

The Correctly Priced Listing

The Correct Price Listing

100,000

120,000

140,000

160,000

180,000

200,000

220,000

240,000

260,000

1 2 3 4 5 6 7 8

Months on Market

Lis

t P

rice

• House should be priced at $200,000

• Seller says “Lets price it to Sell!

• House sells in 1 week for the asking price

• Happy Seller!The right price

14

Market Activity vs. Time

Precision Pricing is most important in the early days of marketing!

“Testing the Market” closes the Window of Opportunity!

Source: HP Real Estate Marketing Assistant Program

15

What are your Carrying Costs for Your House?

(The price of not selling)

• Mortgage

• Insurance

• Taxes

• Association fees

• Utilities

• Maintenance and repairs (outside and inside)

16

3. Marketing Plan

17

Preparation

• Measure square footage by an appraiser (when necessary)

• For sale sign on property

• Box on property with flyers

• Lock box

18

Internet Marketing :How Real Estate Consumers Have

Changed• The first showing of your house is not in your house-it is on

the Internet!!! If Buyers like the first showing, then they will come into the house for a second showing.

• Buyers are 9X as likely to find the home they purchase on the Internet than in a newspaper.

• Buyers are 34X more likely to find the home they purchase on the Internet than in a home book.

• Buyers want every bit of information available on properties, especially in a buyer's market where negotiating power has increased.

• Buyers become more visual and demand more photos and full-motion videos; they expect more than simply moving print listings online.

• Internet home buyers also use the web to effectively filter out properties that do not interest them.

19

On Line Marketing

• Put into MLS Exposes to 5000+ agents plus numerous public web sites

• Create a video tour to be included on most web sites.

• www.JoynerFineProperties.com– Features weekly open houses– Features your listing

• www.LacyWilliams.com

20

Visual Tour

• Visual tour will be created for your house.

• Only 5% of the agents use Visual Tours. Do you want your house to stand out?

• Visual Tour allows us to have an unlimited number of photos, visuals including community information.

• Visual Tour listings get more showings, sell quicker for a higher price.

21

On Line Advertising Sites

HGTV Front Door

Integrated Asset Services

Home Tour Connect

Home Winks

Cyberhomes

22

Video Tour: On Line Advertising

• A video tour will be created and will be included on the following web sites:

Linkedin

Twitter

facebook

Visualtour.com Video

23

Because REALTOR.com® has millions of listings…

I will make yours stand out!!

The more buyers we can interest, the better chance we have of finding one who will meet your price, terms and desired closing date.

SHOWCASE LISTINGSI will upgrade your listing on REALTOR.com® to be more prominent using REALTOR.com’s Showcase Listing Enhancements.

Capturing Buyers on Realtor.Com®

24

rr

SHOWCASE LISTINGENHANCEMENTS helps to sell your property:• Your home will be more visible

to buyers – highlighted on the screen in Realtor.com

• I receive customer leads directly so I can personally respond to buyers

• More exposure for your propertyUp to 25 Jumbo Photos

(instead of one photo)Video toursPromote open houses

25

Featured Homes

• Your home will be in a rotation to be one of Realtor.com’s featured homes.

26

Web Site Search Optimization

• Zillow

• Trulia

• Realtor.com

• Mobile App (Joyner and personal)

27

Luxury Portfolio

• Luxury Portfolio is a boutique group of luxury firms that represent more listings and more sales than any other franchise or luxury organization.

• Web site allows you to search luxury properties worldwide.

• Joyner Fine Properties is on of only 2 companies in Richmond that is a member.

28

Marketing Plan: Print Advertising

• Create an attractive color brochure that highlights the elegance and charm of the house. Combine written details with color photographs

• Advertise in Sunday classifieds when holding an open house

29

Open House

• Open house the first Sunday

• I supply flowers, Open House signs, lead in signs and a newspaper ad and Open House directory ad for each open house.

• Open houses are advertised on Joyner Fine Properties web site, Zillow and other web sites and on Visual Tour web sites.

30

Showing the House

• Use lockbox on property to gain maximum exposure to all agents

• Attempt to get feedback from agent from all showings• Contact owner weekly (or as desired) with status• The easier it is to show the house, the easier it is to

sell the house. If you can’t show it, you can’t sell it.• Buyers are often on a short fuse – I will give you as

much notice as I have but often I get a call from an agent who wants to see the house now.

• Important to leave the house during showings – the Real Estate professional will answer their questions.

31

Estates and Homes

32

Contract to Closing

• Negotiate offers and addendums• Qualifying purchasers and work with lenders to

get required information.• Association packages• Inspection and inspection issues• Contractors to perform or estimate repairs• Appraisal• Coordinate settlement with attorneys.• Getting to the closing

33

4. Qualifications

34

Qualifications: Joyner Fine Properties

• Full service real estate firm specializing in high end properties

• Founded in 1973• 130+ full time agents plus a staff of 15+• Leadership in Local and National Boards• Member of Leading Real Estate Companies of the

World relocation network which provides a vast cross-country network of 82,000+ sales associates belonging to 1500+ leading firms

• Currently working with Mead Westvaco and other firms on relocating their employee to Richmond

35

Leading Real Estate Companies of the World

(Leading RE)

• Joyner Fine Properties is a member of Leading RE

• Leading RE does more relocations that anyone else!

• LeadingRE members sell nearly 25,000 homes annually valued at $43 billion, 20 percent more than any other national real estate organization.

36

Joyner Fine Properties Relocation Experience

• Alcoa• Alpha Lavall• Bank of America• BB&T• Black & Decker• Capital One• Circuit City/Car Max• CSX• Department of Defense• Dominion Resources• Federal Reserve• Ford Motor Company• Honeywell• JP Morgan• Lowe’s• MeadWestvaco

• Motorola• Northrop Grumman• Performance Food Group• Philip Morris• Siemens• Sun Trust Bank• Sun Trust Mortgage• Sunbeam• Virginia Commonwealth

University• VCU Medical Systems• Wachovia Bank• Wachovia Securities• Others

37

Joyner Award Winners!

• Lacy Williams: one of top 10 agents in Richmond in 2007 as reported by Richmond Association of Realtors

38

Joyner Fine Properties 2011 Award Winners

39Source: Richmond Association of Realtors

Joyner Fine Properties is #2 in Volume

Volume of Sold Listings By Company in Greater Richmond in 2011 (Top 10 Companies)

$297M $295M $290M$219M $197M $186M

$108M $90M $90M

$0$50,000,000

$100,000,000$150,000,000$200,000,000$250,000,000$300,000,000$350,000,000$400,000,000

Vo

lum

e o

f S

old

Lis

tin

gs $1,000M

40

Number of MLS Agents By Company

793

132 100221 231

108 89 57 23 31

0100200300400500600700800900

Num

ber

of M

LS A

gent

sNumber of Agents By Company

Source: CVRMLS Data 1/9/12

41

Average Sale Price by Company in Greater Richmond in 2011 (Top 10 Companies)

$259,110

$331,942

$212,561$185,456

$212,951$228,060

$176,745

$256,831$231,975

$111,718

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

Ave

rage

Pri

ce P

er S

ide

Joyner Fine Properties is #1 in Average Sale Price

Source: Richmond Association of Realtors

42

Joyner Fine Properties is #1 in $1,000,000 Sales

Number of Sides (Listings and Sales) for 2011 Sales over $1,000,000 in Greater Richmond in 2011 by Company (Top 10

Companies)

14

23

5

0 1 0 0 0 0 0

0

510

1520

25

Nu

mb

er

of

So

ld S

ides

Source: CVRMLS Data 1/9/12

43

Luxury Homes Specialist

44

Qualifications• Ruby award winner which is the highest

award that Richmond Association of Realtors gives

• Top 1% of Realtors nationwide• Number 752 in the nation ranked by sales

volume in 2005• I sell homes and condominiums all over

the Richmond area• Full Time Office assistant

45

Houses that I have Recently Sold in Your Neighborhood

Buyers Agent: Listing Agent:• 515 Granite Ave 600 Libbie Ave• 4704 Cutshaw Ave 4635 Stuart Ave• 4003 W Grace St 5409 Toddsbury Rd• 4108 Grove Ave 4407 Hanover Ave• 5707 Park Ave 4509 W Grace St• 4622 Hanover Ave 39 Lexington Rd• 4715 W Franklin St 13 Willway Ave• 4508 Bromley Ave 6207 Three Chopt Rd• 4407 Hanover Ave 5300 Matoaka• 4509 W Grace St Lock Lane Condominiums (116

sold!)• 39 Lexington Rd• 207 N Wilton Rd• 105 Seneca Rd• 98 Tuckahoe Blvd

46

1) Maintain and stage

2) Help pay closing costs

3) Expect to pay for a home warranty

4) Don't snub low offers

Source: Market Watch 6/15/09

How to sell your home today

47

Additional Information on the Real Estate

Market and Pricing

48

Greater Richmond Single Family Sales

12737

15262 15533 1645015074

12644

9482 9069 8574 905110177

02000400060008000

1000012000140001600018000

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Year

Nu

mb

er o

f S

ing

le F

amil

y H

ou

se S

ales

Number of Single Family House Sales by Year

The number of single sales dropped every year from 2005 to 2010. The number of sales in 2010 was approximately half of the number of sales in 2005. After 5 straight years of declining sales, the number of sales in 2011 was 5.5% higher than 2010 and 2012 sales were 12.5 % higher than 2011 sales

Source: CVRMLS data 1/6/13

49

Year Over Year Change in Number of Sales

In the Condominium market, Year over Year number of sales by price point have increased in all price points with dramatic increases in the higher price points..

Source: CVRMLS data 11/25/12

In the single family market, Year over Year number of sales by price point have increased in all price points with the greatest increase in the high end market..

Number of Single Family House Sales in Greater Richmond

Price Range 1/11-12/11 1/12-12/12 Change

$0-$250,000 6259 6799 8.63%

$250,001-$500,000 2317 2755 18.90%

$500,001-$750,000 395 470 18.99%

$750,001-$1,000,000 102 106 3.92%

$1,000,001+ 30 47 56.67%

Number of Condominium Sales in Greater Richmond

Price Range 1/11-12/11 1/12-12/12 Change

$0-$250,000 932 1078 15.67%

$250,001-$500,000 268 300 11.94%

$500,001+ 14 39 178.57%

50

Months Market Pricing

1-4 Sellers Appreciation

5-6 Even The Norm

7+ Buyers Depreciation

Months Supply’s Impact on PriceMonths Supply’s Impact on Price

51

Inventory of single Family Houses By Month

0.0

2.0

4.0

6.0

8.0

10.0

12.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Month

Inv

en

tory

of

Ho

us

es

2010

2011

2012

Inventory of Single Family Houses by Month in Greater Richmond

The supply of houses is determined by the number of active listings divided by the monthly sales rate for the past year. After 2+ years of inventory between 8 and 10 months, inventory began to drop in the later months of 2011 and has continued to drop in 2012. We are following a nationwide trend of declining inventory. In May 2010, there were 7455 houses listed for sale in Greater Richmond and now there are 3619. A normal market is 5-6 months of inventory.

Source: CVRMLS data

52

Greater Richmond Single Family Price Per Square Foot For Closed House Sales By Year

$92.37$99.65

$107.60

$123.38

$135.82$139.64

$132.43

$117.82$112.24

$104.98 $106.16

$80

$90

$100

$110

$120

$130

$140

$150

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Year

Pri

ce

Pe

r S

qu

are

Fo

ot

Average Price Per Square Foot By Year for Single Family House Sales in Greater Richmond

Prices have started to rise in Greater Richmond with 2012 prices being approximately 2% higher than 2011 prices. With a 25% decrease in prices between 2007 and 2011, prices are still at 2004 levels as indicated in the red line on this graph.

Source: CVRMLS data 11/25/12