Spring is here, and that means that new Beacon Hill condo for sale listings are hitting the market daily. It’s a good time to give a shout-out to all those prospective downtown Boston condo home sellers out there who are thinking of putting their homes on the market.
I’ve been doing my job long enough to recognize good and bad seller strategies. So I thought I’d round up the bad ones to potentially make things smoother for some sellers this year.
Here are my top five home seller mistakes. Avoid them if you can:
Boston condo buyers will pay top dollar if they emotionally connect with your home, and that means making the property look as appealing as possible. You’ll also want your home to stack up visually against the comps. Staging will be worth the money.
Yes, you’ve seen his or her name plastered all over your neighborhood. Most agents in Boston real estate brokers sell in multiple neighborhoods and know the micro markets well. You should absolutely consider an agent with professed local market knowledge, but don’t forget about the rest. Marketing and technology platforms, solid agent networks, Boston real estate Google Reviews and service levels should be priorities. If your listing agent can’t produce an outline of what he or she is planning to do from start to finish, it might be time to look at other options. And more importantly, make sure your agent isn’t ultimately the type to railroad you into accepting an offer that may not provide the most beneficial price and terms just so he or she can move on to the next transaction.
It seems like buyers are throwing money at properties regardless of list price in this market, doesn’t it? That’s not really the case. The selling pattern in Beacon Hill right now is list low, sell higher, and if you list too high, you’ll sit.
You put your home on the market, and within two days, your agent is presenting you with two amazing offers. But you haven’t had many buyers through, or even an open house. Based on my experience, it could turn out that the buyer who writes the highest and best offer visits during your second open house. Unless you have to sell rapidly and aren’t concerned about getting the highest price and best terms possible, let your agent market your property for at least a week or two.
The correct marketing strategy is crucial to a successful sale. Make sure your agent and his or her company are in a position to really make a splash when they market your home. Connecting with your targeted buyer demographic is critical; more than 90% of prospective home buyers are doing online searches. If the buyers you’re trying to reach aren’t impressed with what they see online, you can bet they won’t take the time to schedule a showing.
In the last four months, the median sales price per sq ft for a Beacon Hill condo was $1,140.00
In the last four months, the median sales price per sq ft for a Beacon Hill condo that sold under $1M was $1,102.00 per sq ft.
In the last four months, the median sales price per sq ft for a Beacon Hill condo that sold over $1M was $1,288.00 per sq ft.
In the last four months, the median sales price per sq ft for a studio Beacon Hill condo that sold in 2021 was $1,158.00 per sq ft.
In the last four months, the median sales price per sq ft for a 1 bed Beacon Hill condo that sold in 2021 was $1,444.00 per sq ft.
In the last four months, the median sales price per sq ft for a 1 bed Beacon Hill condo that sold in 2021 was $1,041.00 per sq ft.
In the last four months, the median sales price per sq ft for a 1 bed Beacon Hill condo that sold in 2021 was $1,814.00 per sq ft.
Additional Beacon Hill Information
Here’s the thing: If you want and expect what everybody else has, you’re not differentiated. Boston Beacon Hill condo sales, like any other facet of business and sales, are all about differentiation. Success is founded upon being different. If you’re just another Boston downtown condo on the market, then you’ll get just another average result.
“Price is simply an element that has to complement a greater system.”
Many Boston Beacon Hill condo sellers get caught up asking about the price, but that’s not the right question. The right question is about the agent’s process; if winning a listing or selling one for more was as simple as just pricing it higher, then the real estate would be a different world. But there’s more to it than that; your agent is there to administer a process that, hopefully, they’ve done hundreds (if not thousands) of times and that has been engineered to give dependable results. If you like their process, hire them; if you don’t, then move on to a different agent who has a better one.
Price is simply a function of marketing. If the entire strategy and all your energy is centered around price, then where do you suppose the buyer’s focus will be? They’ll be thinking about how they can lower the price and get a great deal for themselves. Price is simply an element that has to complement a greater system to maximize your home’s value. This ensures that you get the one thing you should really be focused on: A full market response, which lets you know that you’re not leaving money in the buyer’s pocket.
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