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THE IMPORTANCE OF INTELLIGENT PRICING

Figure 1 - Percentage of Buyers by Asking Price

Figure 2 - Activity versus Timing

Figure 3 - The Effect of Overpricing

Determining the best asking price for a home can be one ofthe most challenging aspects of selling a home. It is also oneof the most important. If your home is listed at a price thatis above market value, you will miss out on prospectivebuyers who would otherwise be prime candidates topurchase your home. If you list at a price that is belowmarket value, you will ultimately sell for a price that is notthe optimum value for your home. As Figure 1 illustrates,more buyers purchase their properties at market value thanabove market value. The percentage increases as the pricefalls even further below market value. Therefore, by pricingyour property at market value, you expose it to a muchgreater percentage of prospective buyers. This increasesyour chances for a sale while ensuring a final sale price thatproperly reflects the market value of your home.

Another critical factor to keep in mind when pricing yourhome is timing. A property attracts the most attention,excitement and interest from the real estate community andpotential buyers when it is first listed on the market(see Figure 2). Improper pricing at the initial listing missesout on this peak interest period and may result in yourproperty languishing on the market. This may lead to abelow market value sale price (see Figure 3), or, even worse,no sale at all. Therefore, your home has the highest chancesfor a fruitful sale when it is new on the market and theprice is reasonably established.

We can give you up-to-date information on what ishappening in the marketplace and the price, financing,terms, and condition of competing properties. These arekey factors in getting your property sold at the best price,quickly and with minimum hassle.

Connie Byers Office: 804-270-9440Email: [email protected]: 804-869-3314

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When An Appointment is Made

Agents from many real estate firms will want to show your home. Please allow any agent who calls to show your home at the suggested time. If you are not frequently available, it is suggested that you allow a lock-box be installed on your door. You will increase your odds for a sale by allowing more qualified buyers to see your home. You do not want to miss an out-of-town transferee because your home was not able to be shown!

During a showing:

• Open all windows and window shades during daylight hours.

• The kitchen and bathroom should sparkle!

• Open windows one half hour before showing to circulate air. • Place fresh flowers on kitchen table and/or living

room table.

• If possible, bake cookies or bread to add an invit-ing aroma.

• Turn on all lights and replace bulbs with high-wattage lights where needed.

• Pets should be confined or restricted from view. Not everyone shares your love of animals, and some may be allergic to them.

• All jewelry and small valuables should be placed in a safety deposit box or locked closet.

• Replace any items not included in the sale, or label “to be replaced with” or “not included” signs.

• Beds should be made and clothes picked up. • When you leave your house, leave it as if it is go-

ing to be shown. You never know when the right person will look at it!


PREPARING YOUR HOMEYour home has just one chance to make a great impression with each potential buyer. And it can! The following "tricks of thetrade" will help you keep track of what needs to be done. The whole idea is to present a clean, spacious clutter-free home--thekind of place you’d like to buy. Accomplish a little everyday, and before long your home will be ready to make the impression thatcan make the sale.

Your Home’s Curb Appeal�Mow lawn� Trim shrubs� Edge gardens and walkways�Weed and mulch� Sweep walkways and driveway, remove

branches, litter or toys� Add color and fill in bare spots with

plantings� Remove mildew or moss from walls or walks

with bleach and water or other cleaner� Take stains off your driveway with cleanser

or kitty litter� Stack woodpile neatly� Clean and repair patio and deck area� Remove any outdoor furniture which is not

in good repair�Make sure pool or spa sparkles� Replace old storm doors� Check for flat-fitting roof shingles� Repair broken windows and shutters,

replace torn screens, make sure frames andseams have solid caulking

� Hose off exterior wood and trim, replacedamaged bricks or wood

� Touch up exterior paint, repair gutters andeaves

� Clean and remove rust from any window airconditioning units

� Paint the front door and mailbox� Add a new front door mat and consider a

seasonal door decoration� Shine brass hardware on front door, outside

lighting fixtures, etc.�Make sure doorbell is in good working order

General Interior Tips� Add a fresh coat of interior paint in light,

neutral colors� Shampoo carpeting, replace if necessary� Clean and wax hardwood floors, refinish if

necessary� Clean and wash kitchen and bathroom

floors�Wash all windows, vacuum blinds, wash

window sills� Clean the fireplace� Clean out and organize closets, add extra

space by packing clothes and items you won’tneed again until after you’ve moved

� Remove extra furniture, worn rugs, anditems you don’t use; keep papers, toys, etc.picked up--especially on stairways

� Repair problems such as loose doorknobs, cracked molding, leaking taps andtoilets, squeaky doors, closets or screendoors which are off their tracks

� Add dishes of potpourri, or drop of vanillaor bath oil on light bulbs for scent

� Secure jewelry, cash and other valuables

The Living Room�Make it cozy and inviting, discard chipped

or worn furniture and frayed or worn rugs

The Dining Room� Polish any visible silver and crystal � Set the table for a formal dinner to help

viewers imagine entertaining here

The Kitchen�Make sure appliances are spotless inside and

out (try baking soda for cleaning Formicastains)

�Make sure all appliances are in perfectworking order

� Clean often forgotten spots on top ofrefrigerator and under sink

�Wax or sponge floor to brilliant shine, cleanbaseboards

� Unclutter all counter space, removecountertop appliances

� Organize items inside cabinets, pre-packanything you won’t be using before you move

The Bathrooms� Remove all rust and mildew�Make sure tile, fixtures, shower doors, etc.

are immaculate and shining�Make sure all fixtures are in good repair� Replace loose caulking or grout�Make sure lighting is bright, but soft

The Master Bedroom� Organize furnishings to create a spacious

look with well-defined sitting, sleeping, anddressing areas

The Garage� Sell, give away, or throw out unnecessary

items� Clean oily cement floor� Provide strong overhead light� Tidy storage or work areas

The Basement� Sell, give away, or throw out unnecessary

items� Organize and create more floor space by

hanging tools and placing items on shelves� Clean water heater and drain sediment� Change furnace filter�Make inspection access easy� Clean and paint concrete floor and walls� Provide strong overhead light

The Attic� Tidy up by discarding or pre-packing�Make sure energy-saving insulation is

apparent�Make sure air vent is in working order� Provide strong overhead lighting

When It’s Time To Show�Make sure your property profile folder,

utility bills, MLS profile, house locationsurvey, etc. are available

� Open all draperies and shades, turn on alllights

� Pick up toys and other clutter, check tomake sure beds are made and clothes are putaway

� Give the carpets a quick vacuuming� Add some strategically placed fresh flowers� Open bathroom windows for fresh air� Pop a spicy dessert or just a pan of

cinnamon in the oven for aroma� Turn off the television and turn on the radio

music at a low volume�Make a fire in the fireplace if appropriate� Put pets in the backyard or arrange for a

friend to keep them�Make sure pet areas are clean and odor-free�Make sure all trash is disposed of in neatly

covered bins


What Sellers Want Most From Real Estate Professionals

Real estate agents can best serve their clients when they fullyunderstand what their clients expect from them.

Source: National Association of Realtors®Profile of Home Buyers and Sellers.


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BENEFITS OF USING JOYNER FINE PROPERTIES

Listing property with Joyner Fine Properties means receiving all the benefits of professional real estate expertise: experience, integrity, skill, effectiveness, advanced techniques and marketing tools, a unique knowledge of the marketplace as well as financial counsel and assistance. So, there is something special about selecting Joyner Fine Properties as your REALTOR®. Additionally, you should know about the many beneficial services you will also receive as part of our quality personalized service program.

We enjoy an OUTSTANDING business reputation in the Richmond area. The HIGHLY PROFESSIONAL sales associates in our company are supported by a management team unmatched in today’s marketplace. Our customers and clients have come to depend on the PERSONALIZED SERVICE that they receive time and time again. Our standard for excellence, and our personalized service has been well regarded throughout the industry for many years. Our sales offices are STRATEGICALLY SITUATED throughout the Richmond area with four convenient locations from which to serve you. You may be assured that your Joyner Fine Proper-ties sales associates know your neighborhood and the people who live in it. With a sales force of over 170 full-time professionals, we have loyal buyers in each area who are waiting to purchase a home in your neighborhood... which may very well be yours. When your home is listed with Joyner Fine Properties, you come first, because we selfishly show our buyers our own listings first!

In order to give our sellers the widest exposure via computer technology, we are pleased to mar-ket your property on the CVRMLS listing service. In addition to our sales force, your property profile will be emailed to all area agents. Additionally through JoynerFineProperties.com and the various sites we syndicate listings, your home will be available to millions of web users every month.

There are two ways that we will determine the realistic value of your home.(1) A PROFESSIONAL ANALYSIS by a qualified and knowledgeable agent who lists and sells properties in your neighborhood, and (2) A WRITTEN COMPILATION AND ANALYSIS of recent homes sold, homes presently on the market, and those exposed to the market but not sold during the listing period.

We are very competitive in MARKETING your house not only to our industry, but to the read-ership in areas where individuals are searching to purchase a home. As one of the fastest growing areas in the nation, we are pleased to offer RELOCATION ASSISTANCE to individuals, fami-lies, area universities and to corporations. As a member of Leading Real Estate Companies of the World, the largest independent relation network in the world, we are able to target those people interested in moving to the Richmond area. We are also pleased to have a full-time Relocation Director and Relocation Coordinator to assist those who want to move to our area.

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Company ValuesVision

Provide world class service by offering clients high value solutions to meet all lifestyles.

WE BELIEVE:Human resources are our best resources. We believe in developing people who: -Believe in real estate as a career -Believe in themselves -Believe in their company

That people stay in environments where they are learning and leave environments where they are not learning

A creative productive environment must be natural: -We believe in personal motivation and personal recognition -We do not believe in over-reliance on incentive motivation -We believe in motivation without fear

An environment of creativity, growth and productive changes will encourage our associates to maximize their potential

In an environment of mutual respect, consistent with personal values based on spiritual, intellectual, physical, financial and psychological equity, we will not sanction incompetence or mediocrity

That the following “Top Line Values” will lead to respective “Bottom Line Results”

Top Line Values Bottom Line Results

Reliable Products and Effective Service Reputation and Public Acceptance

Understanding People and Their Values Increases Retention

Support Personal Growth Develops Talent Pool, Key To Future Growth

Spirit of Cooperation Rather than Increases Morale Competition and Coercion

Involvement and Respect Increases Sense of Purpose, Productivity for Others’ Ideas and Profits

Joyner Fine Properties

MissionWe help people solve problems by being their source of knowledge for residential and commercial brokerage.

PreambleWe believe “In an organization, the greater the correlation between the values of its members and the values of the organization, the greater the success.”


INDUSTRY-LEADING SALES.

WORLD-CLASS SERVICE.

© 2016 Leading Real Estate Companies of the World.® All Rights Reserved.

C–Sales Volume. 04.16 Equal Housing Opportunity

I’M LOCAL I’M GLOBALTM

OVER ONE MILLION TRANSACTIONS VALUED

AT $351 BILLION IN ANNUAL HOME SALES

550 COMPANIES

4,000 OFFICES

128,000 SALES ASSOCIATES

OVER 55 COUNTRIES

As an affiliate of Leading Real Estate Companies of the World,® Joyner Fine Properties is a global — not just local — real estate company working on your behalf. LeadingRE provides world-class marketing and resources, allowing us to provide the very best service. The result? Our organization produced more home sales volume in 2015 than any national franchise, over $351 billion, representing over 1.1 million transactions.

PRODUCING ONE-THIRD MORE U.S. HOME SALES VOLUME IN 2015 THAN OUR CLOSEST COMPETITOR Volume shown in billions of dollars

Actual member statistics for LeadingRE and estimates for other networks using average sales units per agent and average sales price for firms in each respective network from published sources for 2015 production.

Sources: REAL Trends National Network 2015 Totals Final Report.

REALTOR® Magazine 2015 Franchise Report.

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What your home is, and is not , worth

The Market Value of Your Home is NOT:1. What you have in it.2. What you need out of it.3. What you want.4. What it appraised for.5. What you heard your neighbor’s house sold for.6. What the tax office says it’s worth.7. How much it is insured for.8. Based on memories and treasures.9. Based on prices of homes where you are moving.

The True Market Value of your home is what a buyer is willing to pay! 1. Based on today’s market.2. Based on today’s competition.3. Based on today’s financing.4. Based on today’s economic condition.5. Based on the buyer’s perception of the condition.6. Based on location.7. Based on normal marketing time.8. Based on showing accessibility.

How Can Your Property Be A “10?”Because, the 10’s are the ones that are selling first! 1. By improving the condition dramatically.2. By offering good terms.3. By improving the way the home shows.4. By adjusting the price.

As A Seller You Control:1. The price you ask.2. The condition of the property.3. Access to the property.

As a Seller You Do Not Control:1. Market conditions.2. The motivation of your competition.3. Value.


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FIVE REASONS YOU SHOULD NOT FOR SALE BY OWNER (FSBO)

1. THERE ARE TOO MANY PEOPLE TO NEGOTIATE WITH - The buyer who wants the best deal possible - The buyer’s agent who solely represents the best interest of the buyer - The home inspection companies which work for the buyer - The appraiser if there is a question of value - Your bank in the case of a short sale

2. EXPOSURE TO PROSPECTIVE PURCHASERS Recent studies have shown that 88% of buyers search online for a home. Most real estate agents have an internet strategy to promote the sale of a home. Do you?

3. RESULTS COME FROM AGENTS AND FROM THE INTERNET Where do buyers find the home they actually purchased? 38% from an agent 37% on the interent 11% from a yard sign 8% from a friend or relative, knew the seller or from a builder 2% from the newspaper 4. FSBO HAS BECOME MORE DIFFICULT OVER THE YEARS The paperwork in buying and selling have dramatically increased as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 9% over the past 20 years.

5. YOU NET MORE MONEY WHEN USING AN AGENT Many homeowners believe they willl save the real estate commission by selling the home on their own. Realize that the main reason buyers look at FSBOs is that they also believe they can save the real esate commission. The seller and the buyer can’t both save the commission. Studies have shown the typical agent is likely to get as much as $27,000 more for a home than an FSBO. People are more likely to FSBO in markets with lower price points, so this does not mean you will get an extra $27,000, but it does show selling on your own might not make sense.

Source: Keeping Matters Current


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Five Facts that Determine Whether Your House Sits or Sells

1. PRICE FACTThe best chance for selling your property is within the first 7 weeks. Studies show that the longer a property stays on the market, the less the seller will net. It is very important to price your property at a competitive market value at the signing of the listing agreement.

The market is so competitive that even over pricing by a few thousand dollars could mean that your house will not sell. Your first offer is usually your best offer.

Here are 8 reasons for pricing your property at market value in the beginning to net you the most amount of money in the shortest amount of time.

1. AN OVERPRICED HOME• minimizes offers • lowers agent response• lowers qualified buyers• lowers showings• lowers prospects• limits financing• wastes advertising dollars• nets less for the seller

2. CLEAN FACTMost people are turned off by even the smallest amount of uncleanliness or odor when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is adequately clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more. If you are planning on moving, why not get rid of that old junk now so that your house will appear larger. Make more space. Odors must be eliminated, especially if you have dogs, cats, or young children in diapers or if you are a smoker. You may not notice the smell, but buyers do. Most agents have a difficult time communicating to their sellers about the odor.


Five Facts that Determine Whether Your House Sits or Sells

(continued)

3. ACCESS AND SHOWING FACTTop selling agents will not show your home if both the key and access are not readily available. They do not have the time to run around town all day picking up and dropping off keys! They want to sell homes. The greatest way to show a house is to have your agent install an electronic lockbox for easy access to the property.

When your home is being shown, please do the following• keep all the lights on • keep all the drapes and shutters open • leave soft music playing• take a short walk with your children and pets• let the buyer be at ease and the agent do their job

4. PAINT AND CARPET FACTPaint is your best improvement for getting a greater return on your money! A freshly painted home smells clean and looks neat. If your house has chipped paint, exposed wood, or the paint looks faded, it is time to paint. If your carpet is worn, dirty, outdated, or an unusual color, you need to seriously consider replacing it. Many houses do not sell because of this problem. Don’t think that it is okay to give an allowance to replace the carpet. It isn’t and it doesn’t work. Buyers choose to buy or not to buy based upon just what you show them in your home. They don’t pay top dollar for possibilities. They simply buy elsewhere.

5. YARD FACT92% of all homes are sold from the curb. Your front yard immediately reflects the inside condition of your house to buyers. Our area has a good climate, therefore outdoor activities are important. People enjoy their yards. Make certain that trees and bushes are trimmed so the house can be seen from the street. Have the grass mowed, trimmed and edged. Plant flowers to give the yard some color. Walkways should be swept. Clean away debris. Remove parked cars. This all adds to curb appeal. If a buyer does not like the outside, that person simply drives on.

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When you list with Joyner Fine Properties, your listing will be posted on the following sites as appropriate, plus more*!

*Posting times vary by website and are generally dependent upon the timeline created by the MLS and each website. Properties will be posted to applicable sites, for instance, LandWatch.com will show land listings, not downtown condos, etc. **Your listing will be also be submitted to the IDX system, which will allow your listing to show on other broker sites, as subscribed by those brokers. +Listings that do not allow AVMs or Coments will not display on Zillow, Trulia and many others. - Listings that do not allow address display will show on Joyner sites but will not be syndicated elsewhere. Sites are subject to change without notice.


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WHY HOLD AN OPEN HOUSE?To Increase the Number of Buyers!

A recent National Association of REALTORS’® survey shows old-fashioned open houses have remained consistently useful to consumers, even in the age of YouTube video marketing pitches and virtual home tours with jazzy musical scores. The research shows that 48% of buyers said they used open houses as an information source in their home search. So, let’s incorporate an open house into our marketing strategy to get your property sold!


the importance of intelligent pricing… · interested in moving to the richmond area. we are also...

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