Massachusetts Real Estate

head_left_image

Is Your Realtor a Clown in Disguise?

                                                                                                                                                         Massachusetts Realtor

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.

 

Angry Massachusetts RealtorAt 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 BillRE/MAX Executive Realty Metrowest Massachusetts 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 Massachusetts Home Starts with Picking a Top Realtor

Bill Gassett Massachusetts RealtorSelling 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 Failed Massachusetts home saleand 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.


Marketing a Massachusetts homeThe 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 BillRE/MAX Executive Realty Metrowest Massachusetts 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.

 

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.

Fannie Mae Short Sale Commission No Longer Cut

                                                                                                                                                       Commission no longer cut in short sales under Fannie Mae

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.

Massachusetts Short sale RealtorsIn 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:

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 cutRE/MAX Executive Realty Metrowest Mass 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.

Low Cost Home Improvements When Selling Your Home

                                                                                                                                                   paint front door selling home

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

add flowers when selling a homeWhen 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

replace toilets selling your homeWhile 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

person painting to prepare for selling their homePainting 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

replace carpet when selling a homeA 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

clean windows when selling a homeCleaning 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

Change old lights selling homeLighting 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 wasRE/MAX Executive Realty Hopkinton Mass 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.

Handling Multiple Offers for a seller in Real Estate

                                                                                                                                                   offer contract real estate in Massachusetts

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.

selling home in Massachusetts and getting multiple offersOne 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. 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.

man with multiple offer in Real EstateIs 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.

success in negotiating multiple offers in Real EstateA 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 EstateRE/MAX Executive Realty Hopkinton Mass 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.

Preparing Your Massachusetts Home For The Spring Selling Season

With the Spring selling season fast approaching now is the time to get your mind set on accomplishing the goal of making your home stand out from the rest of the inventory for sale.

Most Real Estate markets around the country are down and the competition is fierce for a buyer pool that has shrunk dramatically. Presenting your home in the best light will give you a leg up on the competition.

"Curb appeal" is often a catch phrase that is tossed around in Real Estate circles. 1st impressions are critical! Most buyers will find your home online and if your Realtor has done a good job with photography your home should look pretty decent.

Don't disappoint them by leaving your yard look like hurricane just took place!

 

Here are a few quick pointers for your homes exterior to help create a more timely sale:                                                                                            

  • Clean up all debris from this past winter including any tree limbs, branches, and left over leaves.
  • Clean the driveway and walkway of any sand and other debris.
  • Pay careful attention to have all your landscaping beds raked and weeded out.
  • Trim your bushes if needed. Pay attention to keeping them a few feet back from the home allowing for proper ventilation.
  • Consider planting some hearty Spring flowers that have lots of color.
  • Assess your driveway and get it seal coated if it looks old and worn. Seal coating really does wonders to  give your home a new and appealing feel.
  • Clean out your gutters. You do not want your gutters looking that could harbor creatures from the black lagoon.
  • Hose down your deck and consider seal coating the surface if needed.
  • The entry way to your home should sparkle! A fresh coat of paint on the front door always looks great. Make sure you remove any old cob webs.
  • Consider a few potted plants at the entry with some nice flowers.
  • Use a garden hose and spray down any areas of your siding that may have mold or mildew build-up.

 

Just as important is how your home looks on the inside. The properties that are punished the most in a challenging market are the ones where the buyers have to think about investing their time and money dealing with a previous sellers issues.

Trust me when I tell you that when you and I estimate the cost to repair an item is $500, the buyer is estimating $1000 in their mind. You will not win this battle.

Here are some easy things to consider for your homes interior:

                                                                                                                                                     

  • The 1st thing you should consider is taking any unnecessary possessions and remove them from your home. You want to make your home feel as large and airy as possible. De-cluttering old furniture, boxes, and nick knacks go a long way in making a home presentable. I would consider a local storage center in your area for these things, as it is well worth the investment.
  • If you can not find out local storage facility I would consider renting a storage unit from PODS (portable on demand storage).
  • Next on the list should be a major Spring Cleaning. The bathrooms and kitchen should be spotless! These are the rooms that buyers will pay the most attention to. No big mystery, as these rooms are the most costly to upgrade.
  • Clean out all your closets. Buyers are always looking for closet space. Having your closets neatly organized is important.
  • Wash down all your windows. Homes always show better when there is plenty of natural light. Don't let years of grime and dust get in the way.
  • Consider touch up painting any high traffic areas where scuff marks and worn paint are easily visible.
  • Always paint or bleach any old stains away. For example if one of your kids took a shower without the curtain fully closed and there is a large stain in the kitchen ceiling below get it fixed. For one it looks awful and two buyers are going to assume you have a plumbing issue.
  • Clean out and organize your garage. A spacious garage will be a consideration for many home buyers.
  • In areas of the home where natural light is not the best make sure you have lamps with higher watt bulbs.
  • Clear your kitchen counters completely of everything but the bare bones essentials.
  • Clean all faucets,mirrors,lights, and ceiling fans.
  • Re-caulk any tubs, showers, sinks, or tile work that has loose grout.   

Above all else you want to take your emotions out of all the decision making when it comes to getting your home "staged".

Work with your Realtor and make it a team effort. Remember the goal is to get your home SOLD!

You may be taking pride in your PURPLE bathroom but the next buyer most likely will not.

While you have lived in your home for years and enjoy the way it looks a buyer has not.

If your Realtor does not have much experience is setting the stage for your home consult a professional stager.

 

 

Here is an excellent video that illustrates many of the points I have mentioned in this article.

Getting your home to look like something out of Better Homes and Gardens is certainly going to go a long way in getting to the closing table.

Don't forget though that all this effort will be for naught if you do not price your home properly and pick a top producing Realtor to work with. In a challenging market these are the two most important decisions you will be faced with.

See selling your home in a buyers market and why your Metrowest Massachusetts home expired  for explanation about proper pricing and picking web savvy Realtor with a great track record.

When selling a home in this environment the 3 P's of Real Estate don't have much of chance of working. What are the 3 P's of Real Estate? Put a sign in the yard, put it in MLS, and pray. This marketing strategy used to work for many agents when the Real Estate market was booming.

See Social marketing blogging short sales and the seller I never met for an explanation of how a Realtor with a dominant internet presence can be your best friend!

______________________________________________________________________________________________________

About the Author: The above Real Estate information on preparing your Massachusetts home for the SpringRE/MAX Executive Realty Hopkinton selling season 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.

Massachusetts Smoke Detector Laws Changing as of January 2010

** Correction the Massachusetts smoke detector compliance has been extended from Jan 1st until April 5th 2010.

Whenever a home is sold in Massachusetts it is required that the home is inspected by the local fire department for properly working smoke detectors. This law has been in place for decades and is designed to save lives. A property can not change hands without a certificate issued by the fire department.

Effective April 5, 2010, a new regulation relating to the installation and maintenance of certain smoke detectors will be put in place. Staying up to speed on a change in the law like this is critical for landlords, home owners and Realtors alike.                                                                                                       

It goes without saying that it is imperative that home owners ensure that their properties comply with these laws, both from a public safety and liability stand point.  In order to know exactly how your property could be impacted it would be prudent to speak with the local fire Marshall or a lawyer that is well versed in this new amendment.                                                                             

TWO TYPES OF SMOKE DETECTOR TECHNOLOGY

There are two primary detection methods used in todays smoke detectors. They can be either ionization or photoelectric.

Ionization detectors typically have a constant current running between two electrodes. When smoke hits the device, it blocks the current which causes the alarm to trip.

Ionization detectors are usually faster to go off than photoelectric detectors.  The problem with ionization detectors though is that they are unable to differentiate between smoke and steam.

This makes them prone to false alarms when steam from a shower or other source interrupts the current. This is especially true when the ionization detector is placed near a kitchen or bathroom. 

Photoelectric detectors send a beam of light. This beam passes in front of the detector in a straight line. When smoke crosses the path of the light beam, some light is scattered by the smoke particles causing it to trigger the alarm.  Photoelectric detectors are less sensitive to false alarms from steam or cooking fumes but can take longer than ionization detectors to work.

Another major concern was that ionization detectors do not offer the best protection in smoldering fires which are some of the deadliest blazes across the country. Photoelectric smoke alarms are more sensitive to smoldering smokey fires. Most of the homes across the country have ionization detectors which are more sensitive to flames.

In 2007, WBZ News in Boston tested both types of smoke alarms. In a smoky fire the photoelectric detector sounded the warning first. While took almost 17 minutes into the fire before the ionization alarm finally went off!

The debate in Massachusetts has been whether to require property owners to replace their ionization detectors with photoelectric detectors.

Home owners have raised concerns about the cost of replacing smoke detectors that still function properly. Fire departments have suggested that the elimination of false alarms outweighs the additional expense that home owners will need to deal with.

NEW FIRE DETECTOR REGULATIONS

 

Since there are strengths and weaknesses of photoelectric versus ionization smoke detectors, the Board of Fire Prevention Regulation has passed a new regulation (527 CMR 32.00 et seq).

According to the new regulation, owners of certain residential buildings will be required to install and maintain both the ionization and photoelectric smoke detectors.

  While the new regulation does not change the locations where smoke detectors are required, it does allow the installation of both technologies in certain locations. 

Under the new regulation, an ionization dectector can not be placed within 20 feet of a kitchen or a bathroom containing a shower or a tub. In these locations only a photoelectronic detector is allowed. 

All property owners should determine what type of smoke detectors they are currently have installed. In order to comply with the law you can either install two separate detectors that have both technologies or by installing one that utilizes both.

 

 

 

WHAT PROPERTIES ARE AFFECTED BY THE NEW REGULATION?

In order to determine if your property is affected by this change in the law it would be prudent to check with your local fire department or a local Real Estate attorney who up to speed on the changes in the law. According to to the new amendment the following types of properties are impacted by the new regulation:

  • Residential buildings under 70 feet tall and containing less than six dwelling units.

  • Residential buildings not substantially altered since January 1, 1975, and containing less than 6 residential units.

  • All residential buildings sold or transferred after April 5, 2010, which are less then 70 feet tall, have less than six units, or have not been substantially altered since January 1, 1975.

For all properties in these categories, compliance is mandated by April 5, 2010.  It should be noted that the law does not apply to these larger buildings or those which were substantially altered since January, 1975, as these properties already were required to upgrade their fire safety systems under other existing laws.

If you are selling your home in Massachusetts one other law that you need to be aware of is what is known as Nicole's Law. As of March 2006 when a home is transferred you need to have working carbon monoxide detectors.

Carbon Monoxide detectors are required in any residence that has fossil-fuel burning equipment including, but not limited to, a furnace, boiler, water heater, fireplace or any other apparatus, appliance or device; or has enclosed parking within its structure.

Unfortunately, the law is named for 7-year-old Nicole Garofalo who died in January 2005 when a heating vent in her house was blocked by snow drifts, allowing carbon monoxide to accumulate in the home.

According to the carbon monoxide regulations, you need to have a detector on each finished level of the home. Further there must be a detector placed within ten feet of all the bedroom doors. The detectors do not need to be hard wired. A plug-in or battery operated detector meets the requirements.

The inspection for both the smoke and carbon detectors are done by the local fire department prior to closing.

_____________________________________________________________________________________________________

About the Author: The above Real Estate information on Massachusetts smoke detector laws was providedRE/MAX Executive Realty Hopkinton MA 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 24 years.

Why Your Metrowest Massachusetts Home Expired

Metrowest Massachusetts Expired Real EstateAs a Realtor you are able to get on the Multiple Listing Service (MLS) everyday and see countless homes that have "expired".

The number one reason why any home expires and does not sell is because of an improper price. Unfortunately, this is the hardest obstacle in Real Estate to overcome.

In today's challenging Real Estate market, the price that is set on your home can be more  than 75% of the marketing. What do I mean by that? Simply, if you come on the market at the wrong price, the best Realtor in the country with the most sophisticated marketing will not be able to get the job done.

There is no easy way to say this. Pick the wrong price and you will be doomed to languish on the market. All the marketing and advertising will be wasted along with a lot of time.

Time, as in "time on market", is one of the most important Real Estate statistics. This is the one piece of data that every buyer asks for when viewing a home. In fact I can't ever remember a buyer not asking me "Bill how long has this home been on the market?" Every buyer wants to know this because if the home has been on the market for a long time, the buyer feels like there will be more room to negotiate. It is just human nature. Buyers also may feel there could be something wrong with the home when it has been on the market for an usually extended period of time.

The way the MLS system works in Massachusetts prevents a Realtor from re-listing a home to set the days on market back to zero. This used to be a common practice before the MLS board got smart. This change was made a few years ago in order to make market statistics actually valid and not allow a Realtor to deceive the public by manipulating market data. In order for a homes days on market to be reset to zero it now must be off the market for 91 days.

As far as negotiating, sellers are in the drivers seat when a home comes on the market.

See also Selling your home does not have to be a mystery

                                                                

This leads me to the next most important consideration. Do not pick a crappy Realtor! Picking a poor Real Estate agent and proper pricing in many cases go hand in hand.

There is a dirty little practice in Real Estate known as "buying a listing" that many Realtors employ as part of their business practice.

You see in many cases when a seller is interviewing multiple agents, a lesser skilled agent resorts to telling a seller what they want to hear in order to get the listing.

We all want to believe our homes are better than Mr. & Mrs. Jone's home that just sold down the street. This is just human nature at it's finest. A poor Realtor knows this and uses it to their advantage.

With a long term contract in hand and not much activity on your home, the Realtor starts to beat you over the head to reduce your price.

Folks the Real Estate data never lies but Real Estate agents do! Avoid falling into this trap at all costs. Being tied to this kind of agent is the pits. You may be able to drop your price but you signed a contract and will be stuck with this agent until the contract expires. 

 

What can you do to avoid getting stick with a less than stellar Realtor? Ask smart Real Estate interview questions! One of the best pieces of information to find out about the Realtor you are thinking about hiring is their list price to sale price ratio from the original list price and their average days on market.

You should be looking for an agent that beats the averages for your area. It goes without saying that a Realtors previous track record is an important consideration.

Just like in any other good interview process, the agent you select should have an excellent resume.

Actually this is a funny subject because most Realtors have their past client list already typed up and ready to hand to you. I admit it I do too.

The thing is nobody is going to give you a list of clients that are going to say things like "Bill was awful to work with", "Bill's service sucked", "Bill never returned calls".

Remember anyone that is on the list is probably the Realtors best clients. The agent has probably asked the client if they could be included on the reference list. What you are going to hear are the finest compliments about the Realtor. I have always thought this was really hokey.

Believe it or not I don't even ask permission for the people I have on my list. I take a leap of faith that they were happy with my services. Another way around this is to ask the agent for a list of homes that they have sold and just do your own home work. If the agent asks why you want a list you should just tell them you want to see what kind of homes they have sold. Pick up the phone and call a few people. It certainly can't hurt!                                                                                                                                               

Look for A Realtor that is Internet savvy and has a social media marketing strategy. The majority of all buyers find their home online. You need an agent that knows how to make your home the center of attention online.

When looking for an internet savvy Realtor you should do a few things....Google the agents name, an address of a property they are marketing, and a very competitive term like the town, state and Real Estate as keywords.

An Internet savvy Realtor will have pages and pages of results for their name. You may also learn things that could be important about this agent.

If you Google the address of a home they are marketing you will see all the places on line where your home will be found.

There should be a mix of websites, blogs, and videos.  Searching for a term like "Hopkinton MA Real Estate" for example, which buyers will do by the way, will show which agents have a real strong website.

If you can get on the 1st page for this kind of search term when you are competing with the big boys like Realtor.com, Homes.com and Trulia.com you have found an agent that knows their way around the net or at the very least their web provider does.

 

See also Social marketing blogging short sale and the seller I never met and

Selling your home in a buyers market

Pricing your home incorrectly and picking a Realtor with poor business skills are the two most likely reasons why your home has expired. There are however, a few other reasons that can contribute to the possibility of making your sale more difficult to achieve.

Other reasons include a home that does not show well. At the very least your home should be neat and clean.

Access to your home should not be difficult. If you place a bunch of restrictions on when your home can be shown you will increase the likelihood that your home will take a lot longer to sell.

Lastly you should make sure you get out of the house when it is being shown. This is Real Estate 101. A buyer and their agent should be able to walk around the home freely and speak their thoughts without worrying about the seller lurking around the corner.

Here is a neat little video that summarizes some excellent home selling tips.

See top ten mistakes to avoid when selling your Massachusetts home for a complete summary of things to avoid.

______________________________________________________________________________________________________

About the Author: The above Real Estate article why your Metrowest home expired was provided by BillRE/MAX Executive Realty Hopkinton MA 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.

Real Estate Capital Gains When Selling Your Home

As a Realtor working in Metrowest Massachusetts for the last twenty three years, it surprises me how often people do not realize the current tax laws regarding capital gains when selling their home.

The new capital gains tax law actually went into effect in 1997 and is known as the Taxpayer Relief Act of 1997.

The current capital gains tax law when selling your personal residence allows for an exclusion of up to $250,000 in profit if you are single and $500,000 if married. In order to be eligible you must have lived in your home for two of the last five years. Again it must be your personal residence and can not be an investment property.

You can use this capital gains exclusion as many times as you like as long as it meets the above criteria. As an example lets say you were fortunate to purchase your home for $400,000 and it is now worth $700,000. Your $300,000 in profit or gain would not be taxed.

So what happens if you are going to make more than $500,000 in profit? Under the current tax plan you would be taxed at a 20% capital gains tax rate on the amount over the $500,000 threshold.

As far as living in the home for two out of the last five years there are no hard and fast rules regarding this. You could have lived in the home the 1st year, rented it the next three, and lived in it again in the last year and you would be fine as far as the exclusion goes.

There is a new law that just went into effect as of January 1st 2009 that closes a tax loop hole in the Capital Gains law. The recently signed 2008 Housing and Economic Recovery act has placed new restrictions on wealthy home owners who own two or more homes and plan to hop from one home to another to avoid paying capital gains.

Some home owners have avoided paying the capital gains tax by selling their primary home, claiming a full tax exclusion and then moving to a second or third home that they have owned for some time, making it their primary residence and then turning around and selling the home paying little or no capital gains tax.

The new modification says that the gain may not be excluded for periods of "non qualified use", basically the period of time when the home was not used as the taxpayer's primary residence.

 

While being married does offer the benefit of a larger tax exclusion, couples also have some other considerations when it comes to determining whether the home sale is tax-free or not.

Under the law, either spouse can meet the ownership test. For example, the IRS says it's OK if you owned the home for the last two years, you get married and you decide you want to add your spouse to the title. In this case, lets say the marriage is a year old.                                                                                       

Since one of you owned the residence for the required time, as joint filers you have no problem meeting the ownership test even though your spouse wasn't an official owner for that long.

Both parties however must pass the use test. Each of the spouses must live in the residence for two years. One thing to note is that the shared use doesn't have to be while you file jointly. If you and your spouse shared the home for one and a half years before getting married and then six months as newlyweds, the IRS will allow you to claim the exemption. But if your spouse did not move in until the wedding day, you're out of tax-exclusion luck.

One other thing to keep in mind under this couple requirement is that if either spouse sold a home and used the exclusion within two years of the sale of any jointly-owned property, the couple can not claim the tax exclusion. This means if your new spouse sold their home a few months before the wedding, then you will have to wait two years after that property's sale date before you can sell  your shared marital residence tax-free.

Even if you don't meet all the home sale exclusion tests there are certain circumstances where you still may be eligible for a tax break. When you need to sell your home because a change in health or a long distance relocation, you may be be able to get a pro-rated tax deduction. If you pass the requirements of this kind of case, you would calculate the fractional time your were in the home. For example if you were in the home for half the time and were relocated to another state you would be able to claim 12 out of the 24 months of exclusion or half the amount of the exclusion ($125,000).

If you are in the armed services there is also a special provision regarding the capital gains law as well. A law instituted in 2003 now exempts military personnel from the two-year use requirement for up to 10 years, letting you qualify for the full exclusion whenever you must move to fulfill your service commitments.

The information contained here in is believed to be accurate, however every person's individual tax situation may be different, therefore before acting on the information contained herein, the reader is urged to consult a qualified tax accountant or attorney.

Home ownership certainly has tax advantages. When completing the purchase of a home there are other  deductions you need to remember.

See also:

Massachusetts Capital Gains Tax

Tax deductions to remember when getting a home loan.

_____________________________________________________________________________________________________

About the Author: The above information on Real Estate capital gains when selling your Massachusettsremax executive realty Hopkinton Massachusetts 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 Realtor. 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.

Selling Your Home Does Not Have To Be A Mystery!

Selling your home should not be a mystery when you have it priced properly and have selected an agent that knows how to create an online presence for you. A proper price and a coordinated marketing effort are the two most important factors that will lead to a successful sale. Have fun while I read your mind.

Pricing a Massachusetts home properly

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selecting a top producing Realtor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mistakes in pricing a home

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I don't know you either but I would be willing to bet if you are thinking of selling your home in Metrowest Massachusetts you would like to sell it for the most money, in a reasonable amount of time, with the least amount of headaches to you! You see just like David Copperfield I can read your mind too.

It's great to work with a Realtor like myself because when it comes time to negotiate with the buyer, I already know what they are willing to pay. Well I guess I am being a little silly here but not really.

The buyer is going to be looking to pay the FMV for your home (Fair Market Value). Fair market value is what other similar homes have sold for. Not what you need or want to sell your home for.

In today's challenging Real Estate market, the price that is set on your home is about 75% of the marketing. What do I mean by that? Simply, if you come on the market at the wrong price, the best Realtor in the country with the most sophisticated advertising you have ever seen will not be able to help you.

I am not going to sugar coat it. Pick the wrong price and you will be doomed to languish on the market. All the marketing and advertising will be wasted along with a lot of time. In Real Estate time = your money.

What is the one piece of information buyers always ask for when looking at a home? If you guessed theThe importance of intellingent pricing days on the market you are 100% correct. You see when the days on the market goes up so does the gap between the list and sale price.

Yet as Realtors we see this same mistake repeated over and over again. Come on admit it...if you see a home that has been on for 14 days and another for 214 days which one do you feel like you have more bargaining power on? It's just human nature.

Over and over again statistics show that homes priced properly out of the gate sell for more than those who believe a higher list price leads to a higher sale price.

As the graph on the right shows, the further you get from market value, the percentage of buyers dwindles.

So what about the other 25% of the equation? Picking the right Realtor is very important. Just like in every other business, you should be looking for the best professional to represent your interests. Most would agree that selling a home is a fairly large decision in life.

As an agent that has been in the business for 23 years, it never ceases to amaze me how little thought goes into picking a Realtor. Why is it that if you are having surgery or you are involved in a lawsuit or you need a tooth pulled there is conscious effort to make sure you are using the creme of the crop? Is there any wonder why there is so much disappointment in the Real Estate industry?

The barriers to becoming a Realtor are way too low. There are far too many unqualified Real Estate agents running around. This is why as a consumer it is important to go through the interview process. Alright I am digressing here:)

So what should you be looking for in a Realtor? I would put Internet Savvy at the top of the list along with someone that has a previous track record of success!

In the article top ten mistakes to avoid when selling your Massachusetts home you will note that overpricing your home and picking the wrong Realtor are up near the top of the list. Read further for eight additional obsticles and tips to avoid them.

Some other articles offering home selling advice include:

Selling your home in a buyers market and Great Real Estate interview questions for Realtors

No magic or mysteries just sound advice.

_____________________________________________________________________________________________________

About the Author: The above information on Selling your home does not have to be a mystery wasremax executive realty hopkinton mass 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 Realtor. 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.