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Selling Your

H me

Johnine Larsen

Thanks so much for coming today!

I am excited to hear about where everyone is starting from…..

1.In the chat, what are you hoping to learn from this time together?

Slide 2: Insert your name and a local neighborhood picture.

Slide 3: Complete with your / your team’s contact info and accomplishments

Slide 4: Insert your contact information and custom URL for your KW app.

Slide 9: Insert current mortgage rate.

Slide 13: Enter specifics of your market (or simply talk about it).

Slide 15: Insert your custom URL for your KW app.

Slide 36: Know your current interest rates and percentage required for down payments.

Slide 42: Insert your custom URL for your KW app.

Slide 46: Delete this slide if new construction is not an issue in your market.

Slide 53: Modify the preclose costs if different.

Slide 60: Insert your / your team picture.

Slide 61: Insert your contact information."

Slide 62: Insert your custom URL for your KW app.

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Welcome

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I came to Seattle from Chicago 33 years ago and fell in love with the Pacific Northwest. Soon after, in 1990, I founded the Real Estate Gals. Ever since, I’ve done everything I can to help my clients. Whether that means coordinating updates to maximize a home’s value, helping someone prepare for their move, cleaning a client’s yard, getting them settled into their new neighborhood, or anything else that makes for a smooth transition, I’m 100% committed to my clients’ best interests.

I’m also passionate about LGBTQ+ rights, immigrant rights, social justice, homelessness, and animal causes—I founded Agents of Change, and I’ve personally supported organizations such as the GSBA, the Pride Foundation, PAWS, Pasado’s Safe Haven, New Vocations Horse Rescue, and others. I’m currently learning Spanish with the hope of becoming fluent. I also love to sing, bicycle, work around the house, and travel.

About Me

Email: Johnine@realestategals.com

Phone: 206-949-8540

September 23, 2023

Real Estate Gals

Include your Value Proposition, areas of town you specialize in, and even something personal about you / your team, for example, awards, charities, family, pets, hobbies, etc.

Framework:

Let me tell you a little about myself.

My name is Tonya Spivey

I am originally from Seattle but have been back forth a few times from So Cal. The sun and beach always pulls me back down and the lush green and family pull me back up to the PNW.

I have always been in service based industries. Starting with the beauty industry for nearly 20 years and then life coach for 10. I love helping people and building relationships. I started in RE about 4 years ago in San Diego and moved back up to Seattle specifically to be part of this amazing team. .

My passion is helping you get what you need when you need it!

Engagement: “Where is everyone from ?” (ask them to put it into the chat)

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Congratulations!

You've already taken the first step on your journey—you've become interested in selling your home.

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What We’ll Cover Today

Next steps

Fears vs. facts about selling a home

Realities of our market today

10 simple �steps to get started

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Fear: Not Getting a Good Price

Fears vs. Facts About Selling a Home

Fear: Lengthy Selling Process�Fact: With the right guidance, preparation, and marketing strategies, you can streamline the selling process and minimize the time your home is on the market.

Fact: Not all repairs are mandatory. A real estate agent can help you identify which repairs are essential and which can be negotiated with the buyer.

Fear: Losing Equity in Negotiations

Fact: A skilled agent can negotiate on your behalf, protecting your interests and ensuring you get the best deal possible without sacrificing your equity.

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4.

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Fact: A professional real estate agent can help you accurately assess your home's market value, ensuring you get a fair price based on current market conditions.

Fear: Costly Repairs�

Framework:

First, let me dispel some misconceptions about buying a home.

1. I can’t afford to buy a home right now.

Until you do the math, you don’t know what you can or can’t afford.

Are you paying rent? You may be able to buy a home. You’ll be putting your rent toward paying for your own home, not someone else’s. In addition, there are tax savings that can often make up most of the difference between rent and a mortgage payment. We’ll walk through the math later in the presentation.

�2. I should wait until the market gets better.

There is never a bad time to buy the RIGHT home.

My job is to help you find a good buy and ensure you have the financial ability to hold on to it.

Every market has opportunity, it may just be harder to find.

Over time, the investment in your home grows no matter what the market.

3. I don’t have the money for a down payment.

There are a variety of down-payment options available to you.

There are loan programs for first-time buyers with down payments as low as 5 percent and less.

Thinking you have to wait to save up for a down payment may actually cost you money due to delaying all the financial benefits of home ownership.

4. I can’t afford to buy a home because my credit isn’t very good.

There are always options. Shame doesn’t bring you closer to owning a home or having good credit.

There are typically two types of credit challenges: poor credit history or no credit history. Both have solutions.

Even if you have poor credit, you should still talk to lenders. You might be pleasantly surprised at the outcome.

A good loan officer or mortgage specialist will be able to help you resolve your credit challenges.

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Fear: Fear of Uncertain Buyer Financing

Fact: Your agent can pre-qualify potential buyers, reducing the risk of deals falling through due to financing issues.

Fears vs. Facts Continued

Fear: Fear of Legal Complications

Fact: Real estate agents are well-versed in local laws and regulations, ensuring a smooth and legally compliant transaction.

Fear: Fear of Inconvenience�Fact: Agents can schedule showings and open houses at times that are convenient for you to minimize disruptions to your daily life.

Fear: Fear of Moving Hassles

Fact: Your agent can help you with resources for moving and transitioning to your next home, making the process less stressful.

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Framework:

5. I can’t afford to buy my dream home.

The best way to get closer to buying your dream home is to buy your first home.

Use your first home as a forced savings plan for your future dream home.

There’s another fear that some first time buyers have and that’s fear of commitment. It IS a big commitment and remember that you’re never without a way out. If it doesn’t end up being right for you, you can sell, or rent and have someone else pay the mortgage.

6. I should wait until I’m certain about my domestic future.

People often feel they should wait until they are married, partnered, or ready to have children to buy a home.

You don’t need two incomes to buy a home.

If you buy a home now that a future partner doesn’t like, you will still be entering that relationship with equity. Equity will allow you to be choosier in buying the right home for your family.

7. Buying a home seems way too complicated.

No one would ever tell you that buying a home is easy.

That’s why you partner with professionals who know the process and are committed to acting in your best interests.

From your real estate agent to your mortgage officer, these experts absorb much of the complexity, simplifying the process for you.

8. I should pay off my student loan debt before buying a home.

Student loan debt doesn’t prevent you from buying a home.

If you’re making your payments on time, you are earning and preserving good credit.

If you’re having trouble making your payments, student loan services are very good at finding a plan you can achieve.

Putting off buying a home is putting off building wealth.

What other misconceptions have you heard?

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$15K

$280K

$486K

Why Sell Now?

Demand is High

Your Long-Term Investment Has Grown

equity buildup
value appreciation
debt pay-down

Low inventory
more buyers than homes
homes sell quicker & for more
Expanding buyer pool

September 23, 2023

Multiple Options

Flexible Financing
Increasing your return

Framework:�

Home ownership may be the best “accidental investment,” and with a little knowledge of investments, can be the best “intentional investment.” My job is to help you understand these factors that affect your investment and make it intentional. I’ll get into more detail on these throughout this session.

Interest rates continue to remain low! This is the price you pay to borrow money from the bank to pay for your home.

In the last 45 years, 30-year fixed-rate mortgage interest rates ranged from 18.63% in 1981 to 3.31% in 2012. Even though interest rates are higher than they have been in the last six years, they remain at historic lows.

Equity is the value of your home, which can grow every year.

This diagram shows how, over a span of 30 years, equity in a home can increase from $15,000 to $486,000. ((change to seattle numbers - house worth 15 yrs ago, today, and in 30 yrs)

This happens with equity buildup, which is a combination of appreciation and debt pay-down.

Your home’s value can increase. This is called appreciation.

Your loan amount decreases as you pay it off. This is debt pay-down.

Buying your first home is an emotional decision—“Home is where the heart is.”

A home represents your personal tastes and provides a haven of stability and security for both you and your loved ones.

It represents pride of home ownership because it’s yours.

Don’t delay buying your first home. Every month you wait could bring increases in interest rates, or home prices, or both.

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Pros:

Steady Rental Income
Builds Equity
Tax Benefits
Flexibility and Control
Potential for Long-Term Appreciation

Cons:

Tenant Issues
Market Fluctuations
Property Management Responsibilities
Liquidity
Landlord Laws

Selling

Renting

Pros:

Lump Sum of Cash
Passive income through seller financing
Eliminates Landlord Responsibilities
Reduced Risk
Simplicity

Cons:

Loss of Rental Income
Potential Capital Gains Tax
Missed Appreciation
Transaction Costs

SELLING

Pros:

Lump Sum of Cash:

Selling provides an immediate infusion of capital, which can be used for other investments, paying off debts, or for personal use.

Eliminates Landlord Responsibilities:

You no longer have to deal with tenant-related issues or property management responsibilities.

Reduced Risk:

You're not exposed to potential market downturns or tenant-related risks.

Simplicity:

The process of selling a home is typically straightforward, and you don't have to worry about ongoing ownership responsibilities.

Cons:

Loss of Rental Income:

You'll no longer receive rental income from the property, which could impact your monthly cash flow.

Potential Capital Gains Tax:

Depending on your location and the property's appreciation, you may incur capital gains tax upon sale.

Missed Appreciation Opportunities:

If the market continues to appreciate, you may miss out on potential future gains by selling now.

Transaction Costs:

Selling a property involves costs such as agent commissions, closing costs, and potential repairs or improvements to prepare the property for sale.

RENTING

Pros:

Steady Rental Income:

Provides a consistent source of income, which can be used to cover mortgage payments, property taxes, and maintenance expenses.

Builds Equity:

The property continues to appreciate in value while you collect rental income, potentially leading to long-term financial gains.

Tax Benefits:

Rental property owners can take advantage of tax deductions on expenses like mortgage interest, property taxes, insurance, and maintenance costs.

Flexibility and Control:

You maintain control over the property and can choose when to rent, set rental rates, and select tenants.

Potential for Long-Term Appreciation:

Real estate has historically appreciated over time, potentially leading to significant gains if the property value increases.

Cons:

Tenant Issues:

Dealing with tenant-related problems such as late payments, property damage, or disputes can be time-consuming and stressful.

Market Fluctuations:

Rental markets can be subject to shifts in demand, affecting your ability to consistently find and retain tenants.

Property Management Responsibilities:

You'll need to handle maintenance, repairs, and other property management tasks or hire a property management company, which comes with additional costs.

Liquidity:

Selling a rental property may take time, and it may not be as liquid as other investments.

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Realities of Our Market

Average home price King Co:

$980,113

Average home price Seattle:

$946,247

Average 2 bedroom Apt Rent King Co. �$1987/month

Average 2 bedroom Apt Rent Seattle:

$2260/month

September 23, 2023

Framework:

(Update numbers) In King County, the average home price is $980113 vs $946247 in Seattle

Buyer’s vs. Seller’s market is a measure of supply and demand—how many houses are available for sale at any given time, and the number of buyers. Our market currently favors _(buyers / sellers)__. What this means to you as a buyer is …

If Buyer’s Market: Supply is up and demand is low, so buyers have lots of choices, they can take some time looking, and they may get deals.

If Seller’s Market: Supply is limited and demand is high. Sellers are in the driver’s seat and buyers are coming in with full-price and even over-list-price offers. There may be multiple offers I’ll help navigate.

Low Interest Rates—currently around ___%.

Growth of Area is __(rate of growth)___%.

2 bedroom apts

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Why Hold Off?

Personal Timing

Job security

Family Change

Market Conditions

Waiting for the market to be “right”

Property Value Appreciation

Waiting for the value to increase

September 23, 2023

Framework:

There are reasons NOT to buy as well.

If you’re changing your job soon (Double check timeframes for in industry vs new job). This affects your ability to get a loan because lenders want two years of employment records with one company.

If you need time to work on your credit score (add credit ranges), or you have a lot of debt or not enough of a down payment. Again, these things affect your ability to get a loan.

When your choices to buy are out of your budget. You don’t want to end up spending all your money on mortgage payments!

However, factor in your potential for income growth, especially if you are new in your career.

If you’re planning to move again soon, you may not have enough time to build enough equity to make the move worthwhile.

Also, factor in the cost to sell which can be as much as 7.5% (confirm with j) of the price of the home.

As we’ve seen over the past couple of years of living through the pandemic, the real estate market was still strong. The right agent will be able to work for you in a way you are comfortable with to find you the right home for your needs.

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Getting Started
Find Your Agent
Seller Financing
Improvements
Timing your Listing
Prepare For The Market
On The Market
Closing
Enjoy Service for A Lifetime

Selling Your Home

September 23, 2023

KWRI

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STEP 1

Getting Started

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Determine your motivation for selling.
Research current market conditions in Seattle, WA.
Choose a reputable real estate agent

September 23, 2022

KWRI

Selling Your Home

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STEP 2

Find Your Agent

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As your listing agent, I…

1. Educate you about the market.

2. Analyze your wants and needs.

3. Analyze the market and price the home to sell.

4. Coordinate the work of other professionals.

5. Negotiate on your behalf.

6. Solve any problems that may arise.

Step 1: What to look for in an agent

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Today’s Date

KWRI or page number?

When to Hire Your Agent

September 23, 2023

Framework:

If anything we’ve talked about today has led you to decide you are not ready to sell a home right away, that’s okay!

If you’re concerned about your credit history, there are a number of non-profit credit counseling and debt advice resources that can help you formulate a concrete plan to get where you want to be.

If you want to save up for a down payment – while remembering that you may not need as large of a down payment as you previously thought – budget for it, be realistic about what’s possible, and put that plan into action.

I can help you prepare and figure out how you need to budget. Part of my job is to be your local market expert. I can help you watch neighborhoods you’d like to buy in, tracking any trends that I think you’ll find helpful.

(Be sure to get their email addresses so you can put them on a Monthly Neighborhood Nurture Smart Plan.)

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Listing Agreement

Sets mutual expectations in writing.

Commits me to getting the best price for your home

Confirms exclusivity between both of us.

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STEP 3

Seller Financing

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Benefits both sellers and Buyers
Allows for more potential buyers
Potentially get a higher price for your property
Passive Income

Seller Financing

September 23, 2022

KWRI

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STEP 4

Improvements

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Identify Necessary vs Unnecessary Improvements

September 23, 2023

NEW ROOF

KITCHEN UPGRADE

NEW FLOORING

UPDATED ELECTRICAL

SMART HOME TECHNOLOGY

FINISHED VS UNFINISHED BASEMENT

ADD A BEDROOM

NEW PAINT

CURB APPEAL

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STEP 5

Timing Your Listing

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4 Step Process

Current Listings Days on Market
Market Trends Fluctuate
Market Timing
Trust Your Agent

Timing Your Listing

September 23, 2023

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STEP 6

Prepare for the Market

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Complete improvements and projects
Declutter and Have your home professionally cleaned

Remove Personal Items

Schedule photos for marketing
Arrange for Staging
Finalize paperwork

Your agent will help you with all of this!

Prepare for the Market

September 23, 2023

KWRI

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STEP 7

Now You’re on the Market

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Seller Etiquette
Open Houses and Showings
Regular Updates From Agent
Offer Review

What to Expect…

September 23, 2023

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STEP 8

Closing

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As closing day approaches, escrow and your agent will do most of the work. However, to help the process go smoothly, you should make sure you do the following:

Return all phone calls and paperwork promptly.
Communicate with your agent at least once a week.
Notify Utility Companies
Complete Escrow Questionnaire
Review Settlement Statement
Arrange Signing Appointment with Escrow
Review Closing Documents
Provide Wiring/Payment Instructions
Gather Keys/FOBs/Remotes
Remove Personal Items

Pre-Closing

September 23, 2023

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This is where you receive the proceeds from your sale!

This will most likely be paid through escrow

You Made it! Sale is Closed

September 23, 2023

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Close

Get

Bring

September 23, 2023

Valid ID

profits from sale

Give

transfer of clean title
keys to your home

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STEP 9

Enjoy Service for a Lifetime

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Check Out My Website

Today’s Date

KWRI or page number?

Getting Started

Questions and Aha’s?

Johnine Larsen - Real Estate Gals

Email: Johnine@realestategals.com

Phone: 206-949-8540

Check Out My Website