Massachusetts Real Estate

Original article Source: Top Home Selling Tips

After being in the Real Estate business for the last twenty five years I have been involved in all types of markets. I have been through boom times and recently some of the most difficult times you could ever imagine.

With these experiences I have continued to learn what makes a home sell for the most money, in the shortest period of time, with the least amount of headaches. When I interview with a potential client I like to share what works and what doesn’t.

I am also candid even if it is not what the seller wants to hear. A “yes” man will never be a great Realtor. Keeping this in mind here are the top home selling tips for Real Estate. The best piece of home selling advice I can ever give any client is to price the home properly coming out of the gate. Overpricing a home is one of the hardest things to overcome.

In fact I tell people all the time that the price you set on a home is 80% of the marketing. What do you mean by that Bill? If you set the wrong price all of your other efforts to sell the home will be meaningless. The best online marketing, fantastic photography, beautiful brochures and fancy video tours aren’t going to mean squat if you help sell the competition by overpricing YOUR home.

One of the sure fire ways to prevent your home from selling is to list it at a price that the market will not bear. Most people don’t like to overpay for any kind of purchase, never mind one as large as a home. Selling a property can become an emotionally charged event. Many people think of their homes as an extension of who they are and their life time memories. Our homes are places where some of the most important events and memories in our lives occur. From holiday gatherings, birthday parties, the baby’s first steps, to simple things like family meals. These are all special things to many of us.

When selling a home however, you need to take the emotion out of it and think of it strictly as a business transaction. Trust me I know this can be hard to do! Keep in mind that market value is determined by what a motivated and qualified buyer is willing to pay for your home, not simply what you feel it should be worth. Carefully looking at comparable sales data is very important. The last thing you want as a seller is to let “the days on market” become inflated. I can tell you with certainty every buyer will ask their Realtor how long has the home been on the market. Buyer’s do this because they want to know how much they can negotiate.

To continue reading top home selling tips come take a look at my new blog over at Maximum Real Estate Exposure. If you like the article I would appreciate you sharing it in your social media networks!

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About the Author: The above Real Estate information on top home selling advice for maximum profit was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Massachusetts Real Estate information see Metrowest MA Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service Real Estate short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Framingham, Franklin, Upton, Bellingham, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Millbury, Worcester, Natick, Sutton and Douglas MA.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 25 years.

Original article source: Accompanied Real Estate Showings

For those that do not live and breath selling Real Estate every day you may not realize what the term “accompanied showing” means. This little piece of Real Estate jargon is when the buyers agent is required to meet the listing agent when showing a home or other property.

When I am getting ready to schedule all the properties I am going to show for a particular day the last thing I want to see in the showing instructions is that the listing agent has to be present so please coordinate your schedule accordingly. This is almost as bad as the home seller that makes it a requirement they have twenty four hours notice before a Realtor can enter their home.

Thankfully we do not have accompanied showing in Metrowest Massachusetts area all that frequently. This is certainly not the case all over Massachusetts as it becomes more and more common in some of the cities surrounding Boston. Some areas around the country have accompanied showings and others do not. Why? Who knows but more than likely it all started with an areas tradition.

I am this way of doing Real Estate business has never caught on in my neck of the woods. Frankly an accompanied showing is a waste of a listing agents time and does nothing to enhance the home sale process. There is a long standing misconception amongst some people that Realtors “sell homes”. It may come as a surprise but I have rarely ever “sold” a home in this sense of the word to any client I have ever worked with.

Homes are an emotional purchase. Buying a home is not something a Realtor talks somebody into doing. Realtors can be give advice and provide helpful information but homes sell themselves. In the twenty five years that I have been selling Real Estate there is one commonality when a buyer enters a home they like.

There is an an emotional reaction and you can see it in a persons body language and facial reactions. There are times when a buyer walks into a home you can just feel that it is a match and they will end up putting in an offer. This scenario occurs because of human emotions and attachment. It has almost nothing to do with a sales pitch.

To continue reading the full article see accompanied Real Estate showings.

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About the Author: The above Real Estate information on accompanied real estate showings was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Massachusetts Real Estate information see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service Real Estate short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Framingham, Franklin, Upton, Bellingham, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Millbury, Worcester, Natick, Sutton and Douglas MA.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 25 years.

Original article source: Massachusetts Real Estate Blog ~ Short sale lawsuits against Realtors

Avoiding short sale lawsuits

                                                                                                                                                            

There is no question that in this economic down turn we have experienced over the last five years or so that short sales and foreclosures have become part of out everyday Real Estate landscape.

Every week there are countless new short sale listings that hit the market in Massachusetts. In many of these short sales the seller, not understanding there is a big difference between a traditional Real Estate transaction and a short sale hires any ole Realtor® they happen to come across to represent them.

One the other side of the coin, there are also plenty of Real Estate agents that see the growing number of short sales coming available for sale and realize there is a lot of money to be made.

The problem however, is that many of these agents are flying by the seat of their pants and have done nothing to educate themselves on the ins and outs of closing a short sale.

As a Realtor® who has been successfully closing short sales for almost four years, this is one of my biggest pet peeves! How anyone can look a desperate seller in the face and take on a listing to sell their home with no short sale expertise is just beyond me. It pisses me off when I see a new short sale listing hit the market and know the agent has no track record with this type of transaction.

There are many Realtors® that are putting the noose around their own neck. In desperate times people do desperate things. The end result is that on many occasions consumers get very poor advice that can cost them dearly.

Realtors® that do not have short sale expertise could really do themselves a favor by referring the business out to an agent that is qualified to get the job done.

You may be wondering why this has become such a passion of mine? The answer is simple. Short sales have become stigmatized because there are numerous Real Estate agents and buyers that have been involved in deals where the listing agent did not know what they were doing. The end result for a number of different reasons is a sale that didn’t happen. This leaves a bad taste in everyone’s mouth. Going forward it makes it harder for the agents that do know what they are doing to find buyers for the short sales they are marketing.

Below I am going to touch on all the things you should look out for in trying to successfully complete a short sale whether you are in Massachusetts or another state.

Properly pricing a short sale

When you are short selling your home there is a good chance that you are not able to afford the monthly mortgage payments any longer. You may be just scraping by and know that next month you won’t have enough to pay your lender. When you decide to short sell your home and are no longer paying your mortgage pricing the home properly becomes critical.

The last thing you want to do is either over price or under price the home. For obvious reasons if you over price you will more than likely not be able to procure a buyer in a timely fashion.

If you under price the home and receive a contract from a buyer, the lender is going to reject the short sale after reviewing the appraisal or broker price opinion that they order.

Both of these scenarios can leave you with nothing and that much closer to a foreclosure. A short sale should be aggressively priced such that you will find a buyer in a timely fashion but not so low the lender is going to reject the short sale contract.

The short sale contract

There are numerous Realtors® that are clue less when it comes to giving sellers advice on the short sale Real Estate contract. Lets get one thing straight right off the bat….. When a seller signs a Real Estate contract it is almost always legal and binding as to the terms and conditions in the agreement.

Here are 4 short sale contract issues you need to be aware of:

• Realtors® submitting multiple unsigned offers to your lender
• Realtors® submitting low ball offers to the lender
• Realtors® allowing home inspection contingencies after short sale approval.
• Realtors® allowing an investor to negotiate the short sale

1. When a Realtor® submits an unsigned offer to your lender YOU do not have a legal and binding contract. The buyer can walk at any point in time with no consequences to them! Does this benefit a seller in anyway? The answer is NO NO NO!  The Realtor® you hire should be looking to lock up the most qualified  buyer who stands the greatest chance of getting to the closing table.
2. If you sign a low ball offer you stand an equally strong chance that the lender is going to reject your offer and send it back. If you accept an offer that is no where near the market value do you really expect the buyer is going to agree to the price the lender wants? Not likely and again you will be back at square one after being off the market for an extended period of time.
3. Allowing home inspections after the short sale approval is another big mistake. Do you really want to have your home off the market for months, get a short sale approval from your lender and then find out the buyer wants to back out due to inspection items? Don’t let the blind lead the blind. There is no reason for letting a buyer have home inspections after short sale approval. I find most buyer’s agents think they are protecting their client by trying to save them from spending a few hundred dollars. WRONG – what the buyer’s agent is preventing is the buyer from negotiating a pricing discount if there were issues discovered. Lenders DO NOT negotiate home inspections issues after short sale approval.
4. Letting a buyer negotiate for a seller is clearly foolish. The investor only cares about the seller if they get the terms THEY want.  An agent who lets an investor take over a short sale transaction is asking for a lawsuit. Realtors should not let investors negotiate a short sale!

Short sale negotiations

This is clearly an area where you will see most of the lawsuit’s against Realtors®. There are agents who are engaging lenders in the negotiations of short sale approval but don’t have the knowledge and understanding of either short sale debt release and/or short sale tax ramifications.

Who do you think will get sued if a seller receives a 1099-C or 1099-A at the end of the year or gets stuck with a deficiency judgment by their lender(s) at some later date in the future and they were not informed up front about it?

There are many Realtors® who have negotiated short sales that misrepresented to their client that the short sale approval letter removed the short sale deficiency when in fact it did not.

Realtors® are supposed to abide by the Real Estate Code of Ethics but clearly there are many who’s judgment is clouded by the almighty dollar.

The Code of Ethics clearly states:

Article 11  Realtors® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.

Article 13  Realtors® do not engage in the unauthorized practice of law.

Speaking of giving legal advice, there are Realtors® who are guilty of telling their client to stop paying the mortgage to complete a short sale. While this may be the proper advice in 9o-95% of most circumstances with short sales what if the sale falls into the 5-10% where stopping payment was not necessary?

Most major lenders may require payment stoppage but some of the smaller lenders do not have that guideline. Telling a seller to stop paying the mortgage could have serious consequences on their credit that could have been avoided. Again Realtors® should not be giving this kind of advice. It should come from a lawyer.

The take home message here is to make sure you do your home work when hiring a Realtor to represent you in your short sale!

I am successfully completing short sales through out the Metrowest Massachusetts area. As of this writing for almost four years, knock on wood, I have a 100% success rate for short sale approval! I work hand in hand with a local short sale Real Estate attorney who knows how to get short sales done! I will admit there is some luck involved in my success rate but the team I have put together does a stellar job.

If you are outside of the Metrowest Massachusetts area or even in another state and need to do a short sale please feel free to contact me and I would be happy to refer you to a Realtor in your location that handles short sales and has an understanding of the short sale process! I have referred numerous short sales to other Realtors all around the country.

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About the Author: The above Real Estate information on Realtor short sale lawsuits was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Massachusetts short sale Real Estate information see Massachusetts short sale. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service Real Estate short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Bellingham, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham, Natick and Douglas MA.

 

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

            Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths

                                                                                                                                                        

A short sale unfortunately has become a common buzz word in the Real Estate industry. For those that have been hearing the term "short sale" and don't quite understand what it means, a short sale is a legal lender approved solution designed to assist a home owners who is financially strapped to get out from under their mortgage debt.

A short sale is negotiated through the mortgage holder of an owners home where by the mortgage holder agrees to take less than what home owner owes on the property.

A quick example of a short sale would be if a home owner owes $400,000 on their current mortgage and their home is only worth $350,000. The lender in this example would agree to take a short fall of $50,000 at closing.

In some cases the mortgage holder may completely wipe out the debt and the home owner does not have to repay the 50,000. Many lenders may require a seller to sign a note and repay the debt over a certain amount of time. Typically the debt will be reduced and the owner may receive favorable repayment terms of the short fall.

There is quite a bit to know about short sales from both a buyer's and seller's perspective. I have been successfully been completing Massachusetts short sales over the last three years. In fact (knock on wood) I have never had a short sale that did not get approved! Successfully completing a short sale is about understanding the process.

Many consumers make extremely poor choices by working with Real Estate agents that don’t have a lick of experience with getting short sales approved.  Picking a good short sale Realtor is critical to your success.

The following is a number of specific topics about short sale transactions that you would want to be aware of if you are planning to either buy or sell one of these types of distressed properties.

 

Stop making mortgage payments during a short sale? ~ Whether or not a home owner should continue to make mortgage payments is a common question that many sellers want to know when considering a short sale. The most common answer to this question is YES, however it really depends on the lender! Click the link to understand all the considerations.

Picking the right short sale Realtor ~ Picking a Realtor to work with in a short sale is very different than a traditional transaction. You want to work with an agent that has experience successfully closing this type of transaction. Remember as a seller you could potentially be facing a foreclosure. There are many mistakes that are made by agents handling short sales. Don't get caught with your pants down!

Stopping a Foreclosure Via a short sale ~ Nobody ever sets out to buy a home and then see themselves in a financial mess. Unfortunately when the economy turned sour lots of folks found themselves in this situation. One of the ways to avoid a foreclosure is to try to short sale your home.

Questions to ask a short sale listing agent ~ If you are thinking about buying a short sale there are some specific questions you can ask the listing agent to determine the probability that the short sale will be approved or not. These short sale questions will also help determine if the Realtor handling the short sale knows what they are doing!

Acceptable hardships for a short sale ~ On many occasions when doing a short sale the lender is going to require some kind of hardship on the part of the seller. Short sale hardships however, have become less rigid recently and some lenders are becoming more concerned strictkly on whether the short sale would benefit them more than a foreclosure sale.

Short sale tax consequences ~ Understanding the tax consequences in a short sale is one of the most important considerations for a home seller. Whether the short sale home was a primary residence or an investment property can have different tax implications.

Getting short sale debt released ~ Getting the debt released on a short sale is obviously a very big deal. Many Realtors that are working with short sales don't have any knowledge of how to get the debt released. A seller needs to pay particular attention to this detail as you can expect to be hearing from a collection agency without it!

When to do a short sale home inspection ~ This topic is important to understand from both a buyer's and seller's perspective. A home inspection should be done before short sale approval and NOT after. Read the article to understand why it benefits both the buyer and seller to do so.

Strategic default vs short sale ~ There are many home owners who are deciding just to walk away from their homes. Fannie Mae has started to crack down on this practice and is now penalizing borrowers from getting a mortgage for up to seven years! A perfect alternative to a strategic default is a short sale.

Home Affordable Foreclosure Alternative (HAFA) ~ An easy to understand explanation of the short sale foreclosure alternative program known as HAFA.

Short Sale Fraud - There are many forms of short sale fraud. The example discussed here is when an investor and Realtor engage in fraudulent activity that is not disclosed to the lender. Both consumers and Realtors need to do their home work when considering tying up their home sale with a short sale investor.

Realtors don't let Short Sale Investors negotiate with the lender ~ If you are a short sale Realtor or are thinking of starting to work with short sales and are approached by an investor who want to negotiate directly with the lender, I would really think twice about it! Unless of course you don't mind increasing the odds of getting sued if something goes wrong.

Getting a mortgage after a short sale ~ one of the things I am asked most often in regards to short sales is how long it will take before you can get a mortgage again. The article covers in depth the time it will take before getting another mortgage in both a short sale and foreclosure as well as some of the credit score implications.

These articles were published on my Massachusetts Real Estate blog where I talk about numerous topics that are important to consumers who may be thinking about buying or selling Real Estate.

I am successfully completing short sales through out the Metrowest Massachusetts area. So far, knock on wood, I have a 100% success rate for short sale approval! If you need to complete a Massachusetts short sale please feel free to get in touch.

If you are outside of the Metrowest Massachusetts area and need to do a short sale please give me a call or email and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country.

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About the Author: The above Real Estate information on understanding short sale transactions was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham and Douglas MA.

Click here to view Bill Gassett's Real Estate profile.

 

Subscribe in a reader

 

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

ORIGINAL SOURCE: Holliston MA Real Estate

                                                                                                                                                           

In the Metrowest Massachusetts area where I am located it is pretty rare to see an accompanied showing. In towards Boston it becomes much more common place. Some areas around the country have them and others don’t.

Why? Who knows but more than likely it has to do with tradition. I am glad the policy has never caught on in my neck of the woods.

Frankly an accompanied showing is a waste of a listing agents time and does nothing to facilitate a sale.

There is a long standing misconception amongst some folks that Realtors “sell homes”. Folks I have rarely ever “sold” a home in this sense of the word to anyone. Homes are an emotional purchase. They are not something a Realtor talks  somebody into buying. Realtors can be guides and give advice but homes sell themselves. Sometimes when a buyer walks into a home you can just feel that it is perfect for them and they will end up purchasing the place. This happens because of human emotion and attachment. It has very little to do with a sales pitch.

In twenty four years I have never talked someone into buying a home! This is where some sellers have misguided thoughts about the purpose of an accompanied showing. For some reason people think if a buyer does not notice some feature about the home and it’s  not pointed out,  it would cause the sale not to happen. Sorry this is not the case. Pointing out the nitty gritty is not a difference maker to most buyers.

The fancy security system, beveled edges on the the granite counters, and cherry inlay on the dining room floor will not be the reason for someone buying a home. Even in million dollar homes that have every conceivable feature and amenity it is not a listing agent waving a red flag in front of a buyers face that is going to seal the deal. Emotion sells, people do not at least not in Real Estate.

While the need for accompanied showings is rare they can actually be a detriment to the seller for a number of reasons. We use lock boxes here in Massachusetts for a reason! A lock box allows a Realtor to easily gain access to a property without hindrance.

When a seller requires an accompanied showing they are now adding the possibility of scheduling conflicts.

                                                                                                                                                           

I for one am a very busy Realtor. If I have to try and coordinate my schedule with another Realtors, the possibility exists there will be a missed showing for the seller. A missed showing is a missed opportunity!

There have been times over the years where I have not been able to work my schedule around another agents and the buyer ended up purchasing something else before ever rescheduling to see the missed home.

If more Realtors educated their clients on why accompanied showings are a big mistake, instead of worrying that they won’t get the listing without complying with the sellers demands, sellers would much better off.

I for one would love it if sellers actually placed a recorder in their home to hear what some listing agents say as buyers are walking from room to room.  I am not kidding! Things like “here is the kitchen”. Really? If there was not a dishwasher, stove and cabinets I never would have known. Thanks for being here to guide me. This may sound funny but I am being completely serious. There is no value in this.

I know for a fact based on my experience that most buyers and their Realtors do not want a listing agent at a showing.

It creates an uncomfortable atmosphere where the buyer can not speak freely about the property with their agent.  The situation can actually  become unbearable if the listing agent is giving a hard sell. Buyers absolutely hate this. It is actually only slightly better than the seller being there and following you around like a puppy dog.

As a great compromise to some sellers who really want an accompanied showing, I suggest it is done if there is a 2nd showing and only if the buyer does not mind. A second showing of course is an indicator that there could be more than just casual interest. The interest level can usually be confirmed by speaking with the buyers agent. Some buyers at this point may not have a problem with the listing agent being there especially if they have some unanswered questions.

Remember Real Estate is a numbers game. Don’t let an accompanied showing get in the way of selling your home.

Related Real Estate Articles:

How NOT to sell a Massachusetts home

Real Estate pricing ending in 900 may or may not be a good idea

Real Estate commissions agent bonus and unethical Realtors

Handling offers when selling a home

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About the Author: The above Real Estate information on accompanied showings in Real Estate do not sell homes was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham and Douglas MA.

Click here to view Bill Gassett's Real Estate profile.

 

Subscribe in a reader

 

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

                                                                                                                                                        

Working as a Massachusetts Realtor for the past twenty four years, I have seen just about everything. For Gods sake when I started in the business we carried around a huge MLS book with all the listings that was almost as heavy as an encyclopedia. There was no Internet back then.

In fact in the mid 1980's we did not even have the modern convenience of a fax machine for a while. Back then when you needed something signed you had to hand deliver it! In many respects things are a lot easier today.

While there have been quite a few changes over the years in the Real Estate business, the one thing that continues to amaze me is how consumers go about picking a Realtor to represent them in the sale of their home.

I am going to bet that most top producing Realtors that are interviewed probably get the listing somewhere between 85-90% of the time. What about the other 10-15%? How many times have you done a presentation for someone selling their home and you did not get the listing?

While monitoring the daily updates for new properties hitting the market you notice the home which you interviewed for has just been added to MLS. You check to see who has listed the property and your immediate reaction is ....WTF??? Sorry to be so braizen but it's true!

If you are a Realtor reading this article you can probably empathize with me.

You look at the Realtors name and you either have never heard of the person before or you know they don't do a lick of business.

Just to torture yourself a little further you check out the listing and see the following:

• There are only a couple of pictures of the house posted in MLS.

• The quality of the photo's absolutely SUCKS. It is obvious to you
  the agent picked up a disposable Kodak camera on the way to take pictures.

• You read the description of the property and there is barely anything of value. It clearly looks like the agent didn't care and just
  wrote anything to fill the space. Of course there is also either bad
  grammar, spelling mistakes, or the use of abbreviations that buyers have no clue what they stand for.

 

At this point you may have steam coming out your ears but you decide to go to Google the agents name. Clearly you are expecting to see at least a website the agent owns that markets their listings to potential buyers. NOPE...you see nothing...ZIPPO.

You don't even bother but you know if you head over to some of the most visited Real Estate sites on the internet like Realtor.com, Zillow.com or Trulia.com, the agent will not have done anything to "enhance" the listing by adding extra photos and having detailed descriptions showing off all the best features of your home.

This is what happens in the 1st week of your relationship with the Realtor you just chose because they either did one of the following:

1.) Lied to you about the value of your home and you believed them.

2.) They charged you 1/2 percent less on the commission everyone else was quoting you. You think you saved money but you just cost yourself BIG TIME because you always get what you pay for in life.

 

You see a REAL good Realtor doesn't need to do these things to win business. A true professional goes the extra mile in everything they do. They have a passion for their work and it shows.

So if you are going to be selling your home and meeting with a Real Estate agent you better ask good Realtor interview questions. Don't get stuck with the Realtor clown above! Do your home work. I can almost guarantee you things are going to get worse from here.

I think most would agree having a burger from a steakhouse is better than McDonald's. It works the same way picking a Realtor as well. ____________________________________________________________________________________________________

About the Author: The above Real Estate information on is your Realtor a clown in disguise was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

 

Subscribe in a reader

 

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

Selling a home today is not like it used to be back in the middle of this decade. Quite honestly when you needed to sell a home back then it was as easy as selling an ice cream cone to a kid on a warm Summer day. Boy has the landscape changed!

Back then the 3 P's of marketing always worked...Put a sign in the yard, put it in MLS and pray:)

When you are selling a home today in Massachusetts you better be darn sure you do your homework on who will be representing you. Selecting a great Realtor to market your home should be one of your 1st considerations.

As someone who has been selling Real Estate for the last twenty four years, I can tell you with certainty that the agent you select will have the greatest bearing on whether you will be happy and successful. In Real Estate there are some very good agents and some that are not so good.

In my eyes there are three traits that you should looking for when selecting a Realtor. These traits include the ability to price a home properly, a well designed marketing plan, and someone with effective communication skills.

Lets face it we all want our homes to sell for the most money. It is human nature. We all think our home is better than the guy that just sold down the street. Many home owners make the biggest mistake by going with the agent that gives them the highest price.

Guess what...there are unprofessional agents that know some people make decisions based on emotion and not logic. They tell you what you want to hear to get your business. Once they have you under contract and the home has been on the market for a while they start to badger you for price reductions or worse say nothing. You may be thinking what is the point of having an overpriced home? Some agents just don't care because they are drawing calls from buyers that could be making them sales elsewhere.

So how do you avoid making a poor decision picking a Realtor? Here are three tips:

• Ask good Real Estate interview questions. Look for a Realtor that has a good track record. Past success is usually a good indicator of future success. Ask for references from the agent. I would suggest asking for some of their most recent sales and not from some hand picked list that you know is going to give them glowing reviews.

 

• Look over the market evaluation very closely. Do the comparable sales look similar to your home? Remember you need to be looking at this information through the eyes of a buyer. If a similar home down the street had a brand new top of the line kitchen and your home does not, don't expect to be getting the same price.

 

• Picking a Realtor based on the price they give you is really double trouble because more often than not you are stuck with a lousy agent and an overpriced home. Even an outstanding agent will have difficulty selling an improperly priced home. See why Massachusetts homes expire.

The 2nd trait that most good Realtors have is the ability to market well. Today this includes the ability to market on-line. The days of people finding homes by looking in the classifieds and the local magazine rack are over! Almost 90% of all buyers find their homes by doing some kind of on-line search.

As a home seller you should be looking for a agent that has a very strong web presence. By web presence I don't mean putting it into the Multiple listing service (on-line) and Realtor.com. While these things are important they are what every Realtor does.

The Realtor you select should have their own website and it should come up in local Real Estate searches. The ability for the site to come up in searches is of the utmost importance. An agent can have the most gorgeous website out there but if it does not come up in searches it will not help YOU sell your home.

For example if I am a buyer and I am going to be looking for homes or condos on-line, I am probably going to go to Google and punch in something like:

• Hopkinton MA Real Estate
• Holliston MA homes for sale
• Westboro MA homes

or something similar. An agent that can come up on the 1st page of Google for these terms knows what they are doing, as these are the most competitive terms to rank for.

When doing these kind of searches today you will also notice that the agents that really know their way around the web 2.0 have started a Real Estate blog to market their properties. Google loves blogs because they are not static like websites. The best blogs are updated on a weekly basis and because of this get quite a bit of "Google juice". Besides this blog, here is what one of my other Massachusetts Real Estate blogs looks like.

Besides a website and a blog you want to make sure that your home is found in the places where the most consumers visit. One of the things I am most proud of as an agent is my ability to have my clients homes or condos all over the place on-line. Here is a list of the most visited Massachusetts Real Estate sites for selling a home or condo.

Of course the Realtor is going to need your cooperation as well. In a competitive market you want to make sure your home stands out from the competition. Homes that are in less than ideal condition will take a much bigger beating in a buyers market. At the very least you want to be making sure the place is clean and uncluttered.

Lastly, you want a Realtor who communicates with you on a consistent basis. Most sellers want to know what is going on with the process of selling their home. Who wouldn't! Make sure the agent has a plan to keep you informed. Does your Realtor call every agent after the home is shown to see what are the agents/buyers thoughts?

How is this information relayed back to you? One of the things I do for my clients which they really appreciate is a feedback report that can be viewed on-line. We give the client a password to the site and they are the only ones besides us that can see it. It keeps them in the loop on what buyers are saying and they just love it! The feedback helps us as well because if we see a pattern in the comments we can make suggestions to address the issue.

In conclusion, I am going to leave you with a compilation of the top ten tips for selling a Massachusetts home. What you will be reading is a list of things to consider that I have already mentioned here, along with others that are expounded upon in much greater detail.

______________________________________________________________________________________________________

About the Author: The above Real Estate information on Selling a Massachusetts home starts by picking a top Realtor was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Southboro, Westboro, Ashland, Holliston, Franklin, Framingham, Mendon, Upton, Hopedale, Medway, Grafton, Northbridge, Uxbridge, and Douglas MA.

Click here to view Bill Gassett's Real Estate profile.

 

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Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

                                                                                                                                                      

Recent lobbying by the National Association of Realtors (NAR) and more than likely other online prominent educational postings at such places like Active Rain to preserve commissions led Fannie Mae to recently instruct all servicers NOT to reduce Real Estate commissions on short sales. 

Fannie Mae sent an announcement to its servicers stating that as of March 1, 2009 negotiations on short sales commissions below the amount established by the listing agent is prohibited unless the commission exceeds 6 percent. 

Fannie Mae has recognized that negotiating commissions for short sales is unfair because of the extensive work required in many occasions that occur over many months and working with numerous buyers. Paying real estate agents fairly benefits Fannie Mae because Realtors play a crucial role in short sales. The fact that many banks would turn around after a foreclosure and offer commissions much higher did not make much sense.

So as a home seller considering a short sale you may be thinking why do I care if the Realtor gets paid a certain amount of commission? The answer is real simple. When selling your home as a short sale there have been a couple of major issues that continue to plague the industry.

Reason number one is short sales take in many instances an exceptionally long time to get approved. There are times where it takes up to six months just to get a yes or no answer on whether or not the lender will even accept the short sale!

Reason number two is that everything has been open to negotiation up until this point. As a Realtor working with an excellent buyer, the last thing you want to hear on top of waiting months and months is that your commission is being significantly cut.

In a challenging market, a Realtor is your best friend. Banks shouldn't be alienating the party who is an alie in getting the sale accomplished. While it is always in a Realtors best interest to work on their clients behalf, can you see why a Realtor would begin to get a complex and instruct their buyers to stay clear of a short sale?

While this measure taken by Fannie Mae is an important one, the government really needs to step up their efforts of putting pressure on lenders to do whatever is necessary to get these short sales moved along. Whether is more staffing or better trained staffing, the problem starts and ends at the banks.

The announcement also reminded servicers that third party approvals like private mortgage insurers may be required and can affect commissions. 

According to NAR work they are continuing to work with both Fannie Mae and Freddie Mac to strengthen their policies against reducing short sales commissions.

NAR's next steps include continued work with Freddie Mac and other mortgage providers to enact similar regulations that will ensure that Realtors are compensated fairly. 

Currently, Fannie Mae's policy only applies to loans it owns and guarantees, therefore if a loan is owned or guaranteed by another lender the commission policy of Fannie Mae does not apply.

In order to find out if Fannie Mae is servicing your loan you can either call and ask your lender or if they are not forthcoming with the information you can get in contact with Fannie Mae by filling out the Fannie Mae mortgage request form.

If you live in the Metrowest Massachusetts area and are considering a short sale I would welcome the opportunity to answer any questions you may have. I have been successfully closing short sales and work with a local Real Estate attorney to accomplish this goal. So far I am batting 1000% and have not had a short sale rejected.

Here are a few articles I have written that you may offer you some additional insight about short sales:

Getting your Massachusetts short sale debt released

Acceptable hardships Massachusetts short sales

Foreclosure avoiding it through a short sale or loan modification

Short sales and deed in lieu of foreclosure

Ethics in a short sale Realtor responsibilities

Massachusetts short sales

 

______________________________________________________________________________________________________

About the Author: The above Real Estate information on Fannie Mae short sale commissions no longer cut was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. 

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise! 

For Metrowest Massachusetts Real Estate and homes see Metrowest Mass Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

 

 

Subscribe in a reader

 

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.

                                                                                                                                                  

In a very competitive Real Estate market one of the things that is vital to your success is how well your home shows in relation to the rest of the inventory for sale. There are quite a few simple things that you can do to improve your chances and maybe put a few extra dollars in your pocket at the same time.

Maybe you are not even thinking about selling your home right now. When the time comes, however these lost cost improvements could make a difference.

1st impressions are always important so you want to make sure the entry to your home shines. As the buyer approaches the front door the last thing they want to see is an old worn door with cob webs hanging from above.

Most buyers are going to assume right of the bat if the home is not well maintained on the exterior, the interior will not be much better.

The Entry Way

Painting the front door or even replacing it if it is beyond paint can make a real difference. A nice shiny door set always stands out as well.

If you have vinyl siding and you have not cleaned it in a while mildew, dirt and grime can accumulate. Giving it a quick spray can surprisingly make a big difference in the appearance.

Plant Some Color

When selling your home planting some flowers around the entry can really make your property come alive. Choose a variety of colors that really stand out.

Adding a few potted plants if you have a covered entry or a large enough stoop is always a nice touch as well.

 

 

 

Fix Up The Baths

While remodeling a bath is one of the highest returning home improvement projects it may not be in the budget at the moment.

If however, you still have your gold toilets and sinks from the 70's it may be time to let go and move on the something that 99% of the population would like better.

Have a gold shower too? There are lower cost alternatives to ripping out the shower. There are specially made bath fitters that are designed to be put over a shower. New faucets are another lower cost item that can make a difference. At the moment silver/nickel is back in and brass is less popular.

Changing towel ranks, toilet paper holders and shower heads are also nice touches for short money.

 

 

Paint Those Walls

Painting is one of the cheapest most effective improvements you can make in your home especially if the colors are not neutral to begin with. I know you love the pink entry way and purple bathroom but most buyers will not.

I know what your thinking painting is cheap...the buyer can just do it themselves. Most people think this way, however, there is a large part of the population that does not have any vision. They need to see it done.

Painting your home off white or if you want to be slightly more bold in earth tones, is the best way to go. When selling your home all decisions should be done to appeal to the masses.

 

 

 

Address the flooring

A little more expensive but one of the better returning investments especially if you are still hanging on to the orange shag.

Even if you have more modern carpet but just don't have enough in the budget for new carpeting, a good cleaning by a professional can help out dramatically. The same can be said for wood floors as well.

A good scrubbing can go a long way.

 

Clean Your Windows/Treatments

Cleaning your windows can really spruce up your home especially if they have not been done in a while.

A bright home always shows far better than a dungeon. Removing heavy drapes and curtains can help as well, especially if they are out of date.

It is far better to have nothing than to have a pattern that was popular in the 80's.

 

Change Old Lighting

Lighting is one of those things that are subtle but believe me a buyer will notice if the lighting is really dated.

There are some great lights that can be purchased rather cheaply in many lighting stores especially if they are looking to restock their shelves with the latest model.

Even little things like upgrading to brighter bulbs can help. Most home buyers are turned off by dark unlit rooms.

Although a little more expensive to add, recessed lighting can really change the level of lighting in a room. Recessed light work really well in kitchen and baths.

 

Declutter Your Home

This one can really go a long way. Buyers like spacious rooms that they can envision their own belongings in. Getting rid of things that you know you will not be taking with you can really change the appearance of your home.

Hold a yard sale for those items that still hold value. Have other things you know you want to take with you but know they spoil how well your home shows? Get a PODs (portable storage on site) or even consider putting your stuff in a short term storage facility.

Not every improvement has to be expensive. Sometimes it is the small things you do that make the biggest difference in a buyers mind.

 

 

Have an interest in knowing what some of the more expensive home improvements return on your investment? See:

Best remodeling projects cost v.s value for your home

Getting ready to put your home on the market? Here are some other important articles that discuss the home selling process and how to increase your chances of success:

Preparing your Massachusetts home for the Spring selling season

Top ten mistakes to avoid when selling your Massachusetts home

Selling your home in a buyers market

______________________________________________________________________________________________________

About the Author: The above Real Estate information on Low cost improvements when selling a home was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. 

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise! 

For Metrowest Massachusetts Real Estate and homes see Metrowest Mass Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

 

 

Subscribe in a reader

 

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.

                                                                                                                                                  

The handling of multiple offers can be a tricky subject in Real Estate. Let's just say they are every buyer's agents nightmare and something that most listing agents look forward to. I say most because some Realtors try to avoid controversy at all costs and a multiple offer situation can sometimes get contentious.

Before getting into the art of handling multiple offers lets 1st discuss some basic parameters of an offer in general. In Massachusetts all offers whether verbal or written MUST be presented to the seller.

It is not at the listing brokers discretion to determine what is or isn't worth the sellers time to listen to. No matter how ridiculous an offer sounds, it is not up to the listing agent to be the judge of the offer. It is a violation of the code of ethics to withhold any offers whether verbal or written.

According to the Real Estate code of ethics Realtors shall submit offers and counter offers objectively and as quick as possible.

There are a few different scenario's in which a multiple offer situation could arise. You could have multiple offers come in around the same time in a given day in which case all of the offers should be presented to the seller at the same time or you could be in the middle of negotiations with a buyer and suddenly find out you are getting one or more additional offers.

In the 1st scenario the listing agent should be informing the buyers agents that there are multiple offers being presented to the seller. The buyer's agents at this point should be instructing their buyer clients to think about what their best offer on the property could potentially be.

One point that should be made clear is that a listing agent is not allowed to reveal the terms of a buyers offer to another buyer or their agent unless they have written permission from the seller. The code of ethics requires that real estate agents treat prospective buyers honestly and fairly.

A Realtor who reveals the terms and conditions of a competing offer to one buyer gives that buyer an obvious advantage over the others which breaches the duty of fairness owed to the other buyers. 

In most circumstances it would be in the sellers best interest to instruct their listing agent to ask all parties to come back with their "best offer".

The seller stands to benefit greatly as none of the buyers has any idea what the other offers are. If the buyers want the home they will be forced to step up to the plate and possibly pay more than they originally expected to.

Once the seller has received all the bids back, it is to them how they would like to proceed. It is possible that the seller could do one of the following:

• Reject all of the offers. Maybe the price isn't high enough or the closing date does not work. It is up to the sellers discretion on what is acceptable or not.
• Reject one of the offers and work with the others. Maybe this buyers financing was too risky no matter how good all the other terms are. In this scenario the seller could make a counter-offer to one of the other offers.
• Accept one of the offers and reject the others. This is the most common scenario because in most multiple offer situations the seller ends up getting the terms they desire.

The second scenario in which you have already been negotiating an offer and additional offer/offers come in needs a lot more care from the sellers/listing agent, as this is a scenario where emotions can create major problems.

Let me 1st state emphatically that there does NOT necessarily need to be any special treatment given to the 1st offer. After all, as a sellers agent it is your fiduciary responsibility to get your seller client the best terms and conditions.

Is it possible that the buyers agent is going to have steam coming out of his or her ears when this scenario comes up?

It sure is and you better plan for it. There are plenty of Realtors that don't know any better and will give a sellers agent an earful.You need to stand your ground and calmly remind the other agent what your job entails as a listing broker.

The code of ethics is very clear on this issue. "When acting as listing brokers, Realtors shall continue to submit to the seller all offers and counter offers until closing or until execution of the contract unless the seller has waived this obligation in writing."

The goal as a listing agent should always be to get the sellers the best terms and conditions. Is it frustrating to be in this situation as a buyer's agent...you bet it is!! Rules are rules though and this is how the Real Estate game is played.

Multiple offers are always a sellers best friend so to speak. In most circumstances a seller is going to walk away with more than if the multiple offer situation did not exist. The seller will most likely be in the drivers seat if minor issues come up with inspections as well. The buyer may fear the seller jumping to one of the other buyers who lost out if they raise too many issues.

Looking at the mutiple offer situation from a buyer's agents point of view should be to find out exactly what the seller is expecting for terms and conditions. It should not be assumed that PRICE is going to be the only deciding factor. Maybe the closing date or the amount of money the buyer is financing is just as important to the seller.

Over the years I have been involved with many multiple offers where the seller did not choose the highest bid. An example on a few occasions has been one of the parties being more flexible with extending a closing date so the kids could finish school. As a buyers agent you should never loose site of what could be important to the seller.

Besides increasing the price here are a few examples of what the buyer could do to make their offer more attractive.

1. Shorten the time to get inspections done.
2. Shorten the mortgage contingency date or remove it all together if the buyer is 100% certain they will get approved.
3. Increase the escrow deposit over the normal standard for the area.

A few other thoughts about multiple offer scenerios....Make sure you document everything! As a Massachusetts Realtor for the past twenty three years, I have learned that being involved in a multiple offer situation can be a highly emotional event.

Buyers and their agents can get really ticked off when they are not the winning bid. It is wise to have your basis covered in the event someone accuses you of a wrong doing!

One last rule and I don't know why you would want to do this but it is not required that you inform other agents of the fact there is more than one offer on a property.

In fact it is at the SELLER'S sole discretion and choice whether this disclosure takes place. When the seller does give authorization, Realtors shall also disclose whether offers were obtained by the listing agent, another agent in the same company, or a cooperating broker.

Frankly I love getting multiple offers! I know when this occurs my seller clients are real happy and my list price to sale price ratio has gone up up up.

Thinking of selling your home in Massachusets? See....

Preparing your Massachusetts Home for the Spring selling season

Selling your home in a buyer's market

Top ten mistakes to avoid when selling your Massachusetts home

____________________________________________________________________________________________________

About the Author: The above Real Estate information on Handling multiple offer for a seller in Real Estate was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. 

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise! 

For Metrowest Massachusetts Real Estate and homes see Metrowest Mass Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

 

 

 

Subscribe in a reader

 

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.