Selling your home strategies and tips, search with this term and you will get a plethora of choices. They all are necessary steps in the process, but they just may not be in the right order. What is important is what you want to get from the sale and how are you going to wisely use those proceeds. These are always significant transactions. When large sums of money are exchanged many tax implications are part of the deal. Considering the long term benefit to be preserving and protecting your cash, the first step in selling your home is to know what you are doing with those funds and how you are going to do it.
Then of course look on line and see the competition in your neighborhood, see what the prices are, if there are open houses, go to those open houses and see how they are being marketed. A good agent will always have open houses to gage the market, a great agent will do so knowing exactly who their target is and how they behave. Just like school, there are A students and there are C students. The A student will look to streamline their process to only those tasks and marketing efforts that work. They can describe that person in detail and tell you specific steps they will take to target that demographic using technology.
You should always get your property as neat and clean as possible. Everything should be working and if there are surface blemishes, repair them. That is the minimal step. From there consider what you are spending and what you expect to get from the market. There will be time and money spent before the sale if you go that route and that may not get repaid in the sale. There are a lot of strategies you will only hear from the best agents, the rest you can use the search term, Selling your home strategies and tips
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.
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:72Median Liv. Area SqFt:6,262 Median List $:$3,287,500Median List $/SqFt:$561Median 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:14Median Liv. Area SqFt:5,250 Median List $:$2,549,000Median List $/SqFt:$482Median DOM:85.5 Median DTO:71.5
Single Family Sold Listings:18Median Liv. Area SqFt:5,782 Median List $:$2,872,500Median List $/SqFt:$494Median DOM:77.5 Median DTO:59 Median Sale $:$2,695,585Median 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:18Median Liv. Area SqFt:5,954 Median List $:$3,094,950Median List $/SqFt:$506Median DOM:154
Single Family Canceled Listings:11Median Liv. Area SqFt:5,200 Median List $:$3,049,000Median List $/SqFt:$635Median 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
Gratitude 2019 Broker-Talk.com with Deanna Coyle. Deanna Coyle is a co-founder of VestaDivorce and she was a guest on our show a month ago. Her story is one very many of us can relate to. So many people go through difficult marriages, grow up in difficult households, live without love and have to survive. Life is pain is an axiom for all, we end up dead and that is no real spoiler. No life is without pain and challenges, have you ever heard the story of Buddha?
Broker-Talk.com is a 30 minute show about real estate and life. Co-hosts Larry Lawfer and Jim Lowenstern discuss topics of real estate and a life lived. Deanna’s life of hope and rejuvenation has helped her build a business that on a daily basis helps people who need this help. Her spirit of gratitude comes from her life experiences.
When you look for what is working in your life, you are drawn to it. As in Mark Manson’s Book, THE SUBTLE ART OF NOT GIVING A FU*K, we learn to disregard our thoughts that have no bearing on what we want in our day, in our lives. That guy who just cut you off, or took your parking spot, it just is not worth the ruining of the day. That slight, that oversight that makes you feel invisible may not have been intentional and even if it way, it is not important to the quality of your life to dwell on it. Listen in to Broker Talk about Gratitude 2019 Broker-Talk.com with Deanna Coyle.
Closing Quickly and doing it smoothly is a matter of following the right steps. It is a process and when you work with people who know the process they can adjust the property and marketing to assure a goal. Here is a truism. The longer your home sits on the market, the more it drops in value while you’re left in economic insecurity as you lose potential profit from what was once the biggest investment of your lifetime.
The process dictates the first 30 days are crucial. The ability to show the house when it is requested is part of that. Even if you have the most desired home, at the right price and you make it hard to get into, you are diminishing your buyers and you will get less for your home. Process.
Basic Repairs, are a must, Expensive Repairs are not.
The new owner is going to come in and make it their own anyway. There is usually no reason for the Seller to make repairs the buyer is intending. Move in homes are more desirable than fixer uppers in today’s market, and some buyers come in ready to make a property their own.
A Paint Job
Always a good bang for buck. Spend some money cleaning and decluttering first, then do the painting to brighten up the place. Think about putting in brighter bulbs in your lighting to make things brighter.
Or Sidewalk appeal is always important. Real buyers don’t come to buy a house, the are also buying a neighborhood. Make your front yard and drive by appeal to be as good or better than the neighborhood.
The Right Agent
Having the right people on your team in the right positions is critical to the success for a buyer or seller. You might need not only a qualified and successful agent, you will also need a good lawyer, and every other service and tradesman needed to bring you to your success. Choose wisely along the way. Put good people who care about your goals in positions to guide you to that end.
You know, every single day people buy and sell homes. Every day people are being born into families and people are getting divorced. People are loosing jobs and people are getting sick there are reasons why the real estate market is ever changing and will continue to be so. Don’t worry about the timing unless your professional knows that a quick move or a slower move will help you. Spring is always the best.
Great agents can nail the price the house will be sold for within a very short range. They might not always tell you that. Often agents will agree with you on the price to get you to agree to list with them. Find yourself an honest agent who will tell you the truth. They will get you the most.
A Deep Clean
Making sure your home is as clean and smell free as it can be is crucial. Use professional help to detail the home in this manner, you will end up getting more for your home. No one wants to come in and have to clean, that is rentals, not purchases. Get it clean.
Is always a good idea. Price is an issue because Staging can often be 1-3% of the Sale and that is a lot. A good agent working with a good stager will be able to get you a list of their steps and if you can accomplish them and they don’t have to, that is the Seller’s savings.
Tell a good story, no, tell a great story. Tell the story of the person/family that fits perfectly into this property. If you tell their story, they will come. Make your on line promotion real and avoid the usual dull real estate speak.
This is a visual world, do it right and include video and drone work where you can. If it is pretty show it, if it isn’t make the pictures highlight the highlights
It may take time to get this work done, but once you do, your house won’t stay on the market for long. Then, you’ll really be ready to move on to your new life elsewhere. The fact is the first 30 days are critical. After 3o days and if you haven’t had more than 20 people through and entertained at least one offer it is time to adjust. Consult a professional on how to get the most from this point.
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?.
“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
Your Million Dollar Year Day 19 GREEN Designation. Understanding how your house envelope is put together is a critical new piece of the knowledge puzzle that agents need to understand how to better assist buyers and sellers of GREEN homes. This is not just about new construction, but retrofitting older homes as well. Here in the Boston area our homes can be as old as our country. Houses in this area can have been
built before there was electricity and running water. Understanding how houses are put together is vital information when you consult your clients on how best to market GREEN initiatives in a home or how to best direct a new home buyer in the savings of buying a Net Zero energy efficient home.
New England has been a leader in the technology of GREEN homes in part because of the incredible schools and technology companies in our backyards, but also because we face all types of weather. Getting your house envelope tight is necessary to keeping your house warm through the winter. No other course I have taking in my many years as a Realtor® has taught me more about how a house and it’s systems work together to keep us healthy inside.
Healthy homes are those who’s inside air quality is not infected by gases released by some types of building materials trapped inside the walls of the home. With climate change a topic of discussion for some or a place for derision by those who deny the changes it can not be denied that a home with mold growing inside it is a reason for concern for your family. Working with a professional that keeps in touch with the changing products and processes for building keeps you better informed as a consumer or a Seller. Your Million Dollar Year Day 19 GREEN Designation