Downtown Boston real estate brokers usually recommend it, but should you update your Beacon Hill condo for sale? Conventional wisdom says updating results in a higher sale price and faster sale. That’s not always the case; Boston downtown real estate is not a one size fits all business and a dollar in is rarely a dollar out.
Who Says You Should Update Before Listing?
Every Boston condo for sale will sell; the only question is what the market (current buyers) will pay. The single most important variable is the micro market condition. Where is the Boston condo, what’s the price point and how’s the market?
Who is Buying the Home?
Who’s the target buyer? The most common issues tend to be things like damaged carpet, peeling paint, inoperable appliances . But perhaps you want to do a larger home renovation project to attract buyers in the higher price point of home buying.
Cost vs Return
Not every home requires significant updating before listing; fresh pine straw, pressure wash, decluttering and colorful flowers might be just fine. Money can be saved working with a professional agent to analyze the market and determine what, if anything, is genuinely required
The Keys to Success
Every Beacon Hill condo sells at some point. The best outcomes have three key factors aligned when compared with the competition; price – exposure – appeal. The home must be accurately priced, must be easy for both agents and the public to find and it must be appealing. So:
1 – Work only with professional Boston downtown real estate offices (GOOGLE )
2 – Identify the most likely buyer (know and target your audience)
3 – Review trends over the last year and anticipate the next several months
4 – Identify any areas requiring special attention.
5 – Price it competitively (in line with closed sales, what is an appraiser going to see?)
6 – Negotiate realistically (it’s business, don’t take anything personally)
Boston downtown real estate isn’t rocket science; but 10% of the agents do 90% of the business for a reason. Experienced agents understand the nuances and trends, know how to position homes to successfully sell and understand how to manage things to the closing table.
For more information please call me at 617-595-3712
Thumbs up to Kay Grant for the blog idea