LRG Boston Real Estate Blog

If the answer is yes, then you need to be forward thinking  and accommodating in these uncertain times.  If you are not reasonable with your pricing, you will sit on your property for months, sometimes years at a time. You will also start questioning your broker, blaming them for not selling it in a reasonable period of time. What you should be asking your broker is, WHAT NEEDS TO BE DONE TO SELL MY CONDO OR HOME? You should always hire a Seller’s Agent who is reputable, trustworthy and experienced.

We have some some pointers that will save you a lot of time, money and headaches:

1. PRICE, PRICE, PRICE -  We all know that your property is the best.  We understand you put a lot of love, sweat and money into making it perfect.  Unfortunately, if you want to sell it in a downturn, the best strategy is to price it 10-15% below your neighbors who are selling a comparable home. The bottom line is, those same neighbors will be sitting on their property 3 to 5 times longer, and eventually end up at the same price point if not lower than what you sold your property for months earlier.
2. UPGRADES – Not all, but most buyers, prefer not to pay a big premium for your style and upgrades. Yes your finishes are superior, but if you ask a $1.5 to $2.0 million dollar buyer what they would prefer: A higher floor unit, same layout, with lesser finishes but a better view, for $1.7 million, OR, a slightly lower floor unit with superior finishes for $2.0 million, most if not all would go with the higher floor.  The buyer can use the $300,000 to style it to their liking while achieving superior views. Be realistic.
3. MAKE IT EASY AND ENJOYABLE TO SHOW – Always make sure your home is clean, clutter free and smelling good (scents can deter buyers).  Also, do not make it difficult for your broker to show the property.  Things like, “My dog is sleeping”, “the maids didn’t come”, “the in-laws are here for a week” etc etc. Your goal is to sell!! Even though your life might be disrupted for a few months, this is probably the single biggest asset you own, so do your best to deal with the inconvenience.  Allow the broker to show the property on SHORT notice and do their job.  If you don’t, you will undoubtedly miss good opportunities.

Clean and Pristine Condition

From reading this blog posting you know what we are getting at. If you are FORWARD thinking, you will be rewarded.  Everything comes down to price in the end. Listen to your broker, that is why you hired them.  They are looking out for your best interests.  If you feel they are not, find someone else to market your property ASAP.

This entry was posted on Friday, November 20th, 2009 at 5:07 pm and is filed under Lessons Learned 101. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.