You may have heard the term “price improvements”. They are exactly the same as a price reduction but they sound much better and it really is an improvement for a Boston downtown real estate buyers point of view.
It is best to price the home correctly when putting it on the market. In the long run over priced homes sell for less. Buyers are reluctant to make any offer at all or to even visit an overpriced home, while sellers often believe they need to ask for more so that they have room to negotiate without going below their bottom line. It seldom if ever works out that way.
Boston Real Estate Biggest Mistake for Sellers
One of the biggest mistakes people make when selling their Boston condo for sale is not understanding real estate value. It doesn’t matter what you think your Boston Beacon Hill condo is worth. The value is determined by buyers. What you enjoyed about your Boston high rise condo is irrelevant when it’s time to sell. Use some of the following tips to get started.
- Know the Downtown Boston condo market. Find out what other similar properties have sold for.
- Decide on your minimum price. Be willing to work with any buyers who make an offer above it.
- Clean and fix the most visible items first. If buyers fall in love with your home as soon as they enter it, they’ll forgive many minor issues.
- If you or your agent aren’t getting many calls, find out why. Is more advertising necessary or is the price too high? Drop it fast if the price is the problem. Be careful not to chase the market down with a series of insignificant price drops.
- Listen to comments of prospects. If you hear several times a room is dark, white paint is an easy solution.
- If there are any known problems, such as a leaky faucet, get an estimate for repairs. The buyer wants to move into a place that is worry free.
- Do any improvements that can realistically get you at least a two-to-one return on investment.
Not sure where to start? Call the Ford Realty Team to receive a customized strategy for selling your Downtown Boston condo at 617-720-5454.