Categories
Blog Boston Buyer Dedham Featured For Agents For Buyers For Sellers Larry Lawfer MA

EntryOnly Owner Jason Saphire talks about listing 1000 a year

EntryOnly Owner Jason Saphire talks about listing 1000 a year. One of the first questions

EntryOnly Home Page

we were interested in was how do other agents react to him and his business model.  Yes, he did have a death threat or two, but the agents reached out to him through MLS which also delivered their name and numbers to him. He called them up and correctly explained that these Sellers come to him, he is not taking others potential listings.  60% of these houses that he lists close which means 40% don’t and the Seller goes back into the market looking for another solution.

EntryOnly.com is in all of the New England states as well as California although in CA the

broker-talk.com home page

system operates differently at that state. The facts and reality of the real estate market right now is that there is so many ways for professionals and consumers to determine if a price is a value or not. From this perspective EntryOnly customers think they can do a better job, or save more money.  The proof of that does not bear out this as a truth. The truth is a professional who understands the market and knows how to market a property statistically gets as much as 20% more than the for sale by owner.

Jason is successful with this program not only because he provides the consumer with an

Jason Saphire entryonly

alternative to traditional real estate sales and he has built out a platform that provides those consumers with what they need and are looking for. Personally I applaud this fellow Broker for his ingenuity in figuring out early in his career how he can be successful. Providing the Sellers with what they want and you are consistent with that message and follow up in a constant matter makes all the difference. This podcast shares EntryOnly Owner Jason Saphire talks about listing 1000 a year

Categories
Archive Blog Boston Dedham Featured For Agents For Buyers For Sellers Housing Market Updates Larry Lawfer Luxury Luxury Market MA market reports Milton Newton Realtor® Seller Wayland Wellesley Weston Westwood

Boston Area Luxury Marketing Report Jan 2020

ILHM-Nov19-luxury-1

Boston Area Luxury Marketing Report Jan 2020. I gather information from several sources for this report. I include the towns I mostly work in, Boston, MA; Newton, MA; Weston, MA; Wayland, MA; Milton, MA; Dedham, MA; Westwood, MA. Information comes from Institute for Luxury Home Marketing where I am a Million Dollar Guild Member in good standing, and MLSPIN the local Multiple Listing Service in this area. All reports are based on trailing statistics. The Dec stats will be in sometime later this month.

ILHM-Nov19-luxury-1

Luxury, as defined by the Institute is the to 10% of all properties on the market at any given time. For the purposes of this month listed the price to get into this select club is $1,950,000. Any property below that price would not be considered luxury for this report. Many homes below this price would be considered luxurious in most instances, just not in the real estate sense.

In the MLS for the last 30 days there are 144 properties in these towns that fit this designation.Single Family Active Listings: 72 Median Liv. Area SqFt: 6,262 Median List $: $3,287,500 Median List $/SqFt: $561 Median DOM: 125. The DOM, days on market, are always longer for these properties because there are fewer buyers at this level. 

Single Family Under Agreement Listings: 14 Median Liv. Area SqFt: 5,250 Median List $: $2,549,000 Median List $/SqFt: $482 Median DOM: 85.5 Median DTO: 71.5

Single Family Sold Listings: 18 Median Liv. Area SqFt: 5,782 Median List $: $2,872,500 Median List $/SqFt: $494 Median DOM: 77.5 Median DTO: 59 Median Sale $: $2,695,585 Median Sale $/SqFt: $469

From the last two collection of stats we see 14 to 18 properties a month going making this a Buyer’s Market with so much competition and more than 6 months of inventory. Getting Luxury properties sold in a competing market like this demands a professional agent who understands how to market these properties.

Single Family Expired Listings: 18 Median Liv. Area SqFt: 5,954 Median List $: $3,094,950 Median List $/SqFt: $506 Median DOM: 154

Single Family Canceled Listings: 11 Median Liv. Area SqFt: 5,200 Median List $: $3,049,000 Median List $/SqFt: $635 Median DOM: 71

When a property goes too long on the market the buyers often wonder what is wrong. Make sure your Realtor® has a real sense of what to do, who is going to be the target audience and how the agent is going to connect with them. This has been the Boston Area Luxury Marketing Report Jan 2020

Categories
Archive Blog Boston Boston Back Bay Buyer Dedham Featured For Agents For Buyers For Sellers Larry Lawfer Luxury MA Newton Seller

My buyers made me do it YourStories Realty Group

My buyers made me do it, YourStories Realty Group. I couldn’t believe Bill (my Buyer) was making me do this.  What could I do, he is a first time home buyer and he is incredibly excited. Remember what that is like? The emotion can be almost overwhelming at times. “I want the sign that is in the lawn,” Bill confirmed with me. 

“Huh” I am thinking? “You want the For Sale sign that is in the lawn,” I ask?.

“Yes.”

“You want what?” the agent asked me when I called.  Usually, as you are moving towards the clear to close, phone calls often come with things to be cleared up. While a closing gift is an item all agents clear up, it is usually in their own minds, but here I was asking Robin.”Well, he is so excited and wants to remember these moments,” I shared.

“Sure, you can buy the SOLD sign from me at cost”  But that is not what he wanted, I knew.

“No, he wants your For Sale sign, your picture on the sign, your agency and your agencies phone number sign as a memento of this first purchase.” It was not easy for me to get these words out. I am reminded that good agents have to be good within awkward conversation.

“You’re kidding, right?”

“Nope, that is what he wants and I am going to give it to him as the closing gift.”

As the last weeks went by and we moved to and then closed on the transaction Bill never was in doubt about wanting the sign to hang in his house.  He saw no irony in his love for me for helping him find and secure the place and his love of the co-broke.  As weird as this is, I understand it. The purchase of your first home is emotional and life changing and the way we celebrate is unique. I shared in his joy and hope he doesn’t forget that I was his agent as he looks at Robin and promotes her agency in his new home.

The real story here is that this was a truly successful co-broke. We negotiated, we compromised, we adjusted and we moved forward mindful of how both parties were being stressed. The Sellers were having a second child and the one bedroom was no longer a fit, literally. They sold before they looked. That is stressful. My clients got an extra 15 days strapped on to their lease and we adjusted.

I asked Bill why he liked Robin so much. He only met her at the open house, I was not with them because I had my own open house at the time and Robin was open and gracious. “I showed her a picture of Elvis (the beloved pet dog) and she liked it,” is how he explained it.  That was and is enough for me.  I like Elvis too.

Thanks Robin Doherty of Keller Williams Northwest in Concord and Lexington MA for being a great co-broke. Buyer made me do it YourStories Realty Group

Categories
Archive Back Bay Blog Boston Back Bay Buyer Dedham Featured For Buyers For Sellers Housing Market Updates Investor Larry Lawfer Luxury MA market reports Move-Up Buyers Newton Realtor® Seller Wellesley Weston Westwood

Boston Area Luxury Homes Market Report Thanksgiving Week

price-ilhm-thanksgiving16
price-ilhm-thanksgiving16

Boston Area Luxury Homes Market Report Thanksgiving Week comes to you from the Institute for Luxury Home Marketing for which I am a Million Dollar Guild member which is 1% of all the Realtors in the country.  Interest rates are sneaking up since we now have a new President Elect.  This happens with each election. Before the election investors pull their money from the more volatile stock market and put it into treasury bonds.  Now that this is over the interest rates will move forward. The better the economy, the higher the interest rates. Prices across the 10 towns in the Boston Area are moving up.

inventory-ilhm-thanksgiving16
inventory-ilhm-thanksgiving16

When there is more inventory, the prices slide a bit. We see this in towns like Weston which is flooded right now with luxury listings.  Pricing can be tricky and it is essential that you price your property in relation to the competition on the market at the time you are on the market. Forgetting to consider your competition is a typical average agent mistake.  A house is a commodity to the Buyer while it is a home for the Seller. These disparate valuations can cause issues with the sale.

DOM-ilhm-thanksgiving16
DOM-ilhm-thanksgiving16

The longer your house is on the market the lower the perceived value is to the Buyer. The key is to price correctly right out of the box and get under agreement in the first 30 days. From there it can be a down hill slide. Strategic pricing and aggressive marketing make all the difference.  Make sure you choose an agent who knows who your buyer will be and how to communicate with them through the internet.  The days of your local broker being the “go to” person is forever changed.  Your “go to” person is one who understands the market and the marketing.

inventory-ilhm-thanksgiving16
inventory-ilhm-thanksgiving16

The number of homes on the market can impact your sale both positively and negatively.  Your agent should be speaking with you weekly about what is happening in the market.  With luxury homes you can not leave things to chance.  While there is a smaller pool of people who can purchase luxury properties these people are sophisticated buyers and so you need a sophisticated and strategic approach to the sale.  For specific information about your home give me a call, 617-774-8292. Boston Area Luxury Homes Market Report Thanksgiving Week

Categories
Archive Back Bay Blog Boston Back Bay Brookline Buyer Dedham Featured For Buyers For Sellers Larry Lawfer Luxury MA Marina Bay Milton Move-Up Buyers Newton Realtor® Seller Uncategorized Wellesley Weston Westwood

Real Estate Search Strategies #plainspokenagent

Milton-June-2014-Town-Churches
Milton-June-2014-Town-Churches

Real Estate Search Strategies #plainspokenagent for the Buyer start from 30,000 feet, for the Seller they start on the world wide web.  Let me explain, when searching for your next real estate purchase whether it is your first home of fifth the where is important.  You want to start wide so that you don’t miss the true sweet spot (by various criteria like price, condition and location) and that is a process.  Follow the process and get more of what you want for less money and hassle.  This is not a sprint, for the most part.

Newton MA real estate
Newton MA real estate

For the Seller you start on the web.  You want someone who can communicate your property to the right audience and with the right frequency and creativity to draw them to your listing. The more people who look at your property both on-line and then through the showing the better the outcome plain and simple.  The most critical days are the first 30 is common knowledge and the truth is the 30 days before the first 30 are the most important. That is when the story is created, shaped and set to be delivered to the market on the first 30 days.  If your agent doesn’t have those steps down, the competition will win and you will suffer.

Boston Back Bay
Boston Back Bay

Search is always a process.  Map it out first and then adjust the plan as information is brought in.  For the Buyer you get closer and closer to the desired property because you have systematically narrowed the field down.  For the Seller all your work is before you hire the professional to help you shape your story, your first step is to look at your competition on-line and see who is doing the best story getting real people in the door.  These strategies are true in all kinds of markets.  Real Estate Search Strategies #plainspokenagent

Categories
Archive Back Bay Blog Boston Back Bay Brookline Buyer Dedham Featured For Buyers For Sellers Housing Market Updates Larry Lawfer Luxury MA market reports Milton Newton Realtor® Seller Wellesley Weston Westwood

Boston Area Luxury Home Housing Report May 2016

ILHM-MAY-Housing-Report
ILHM-MAY-Housing-Report

Boston Area Luxury Home Housing Report May 2016. The crazy fast start to the selling season has dissolved somewhat in May.  Market statistics have been deviating from the regular patterns here in 2016. There is still a great deal of cash flowing in from outside the area and outside the country.  With money continuing to be cheap to borrow there has also been movement up from the lower luxury to the higher.  Builders are talking about the sweet spot for new homes to be in the four million range.  These graphs and statistics come to us from the International Luxury Home Marketing organization.   ILHM is the worldwide leader in luxury marketing.  I am a Million Dollar Guild member which is the top one percent of all luxury home associates in the country.

ILHM-MAY-Inventory
ILHM-MAY-Inventory

Within the Luxury Market it is confusing to look at the 7 day analysis. Since there are fewer luxury homes and the price point can vary a single high priced home can alter the numbers at it did mid week last week.  The 90 day averages give you a broader sense of what is going on.  For the Buyers we are heading into the Summer on a good trend. Because the inventory is rising the prices are adjusting to that rise.

ILHM-MAY-DOM
ILHM-MAY-DOM

The Days on Market (DOM) are always an indication of how robust the market is.  Old school agents and sellers still think they should enter the market with a high price to leave room for negotiation when the market is just not responding to this approach. The correct approach today is to price your property at a value in comparison to the direct competition in your neighborhood. In this approach you get more people through which always delivers better offers. Those who refuse to understand this truism will languish on the market forever not realizing that the market is looking at their home as damaged because of the DOM.

ILHM-MAY-price-reduced
ILHM-MAY-price-reduced

Since there are fewer Luxury Homes and fewer Buyers for Luxury Home the DOM will always be a bit longer than the regular market, but the best practices regarding staying alive with a price break in the market remain. If your property is not getting any visitors, or few visitors, you are over priced.  A correctly price house with good marketing will get 20 visitors a month and one offer.  If you are not getting that and your condition and marketing are as good as they can be then PRICE break is your only option. This has been the Boston Area Luxury Home Housing Report May 2016