house with sold signThe Best Way to Sell a Home - Get it Right the First Time!

Your Massachusetts Realtor® arrives at your home with copious amounts of data to determine the best way to price it for the market.  You know from your research that she is experienced and knows how to sell homes in your area. 

To determine the price, she presents the following: 

  1. Comparable Sales or "Comps."  These are listings of homes similar to yours that have sold over the past few months.
  2. Expired listings. Samples of properties that were on the market and did not sell, usually due to poor pricing.
  3. Data from the MLS showing how many homes are currently on the market, the number of days they have taken to go under agreement and other pertinent statistics are in your area.
  4. Competition.  Properties in your neighborhood that are currently on the market and will be competing with your home. 

Using all of this information, your Realtor® comes up with an appropriate pricing strategy that coincides with what has happened historically and what is currently happening in your area.  

Your response - "Let's try it a higher price since someone may just go for it.  If it does not work, we can lower the price in a couple of weeks."

Don't do it! The best chance you have of selling your home is to price it correctly from day one.

Additionally, your Realtor® has done a thorough evaluation of items that need to be taken care of in your home. Perhaps there are some repairs that should be made - problems that will be glaring or even frightening to a potential buyer. 

You decide that those repairs can be made at a later time if the house does not sell right away. 

Do not put off necessary repairs! You will not have a second chance with buyers who were turned off by seeing your home in poor condition.

Your Realtor® has further suggested that a bit of staging and some light redecorating (painting a neutral color over the bright red wall in the kitchen) will be crucial in showing your home in the best light. 

You decide to wait before doing this to see whether or not it will make any difference. 

Important notice - Buyers cannot see past bold decorating! 

Remember, the first week that your home is on the market is the most crucial. This is when agents in the area will be touring it for their potential clients and it will get the most momentum.  Think of it as opening night.  If the critics pan it, your chances of a repeat performance will dwindle. 

Home selling is not an easy task. That is why you have hired a professional to help you to get it done.  The best thing you can do to increase your chances of selling your home quickly is to listen to the expert that you have carefully hired and - 

Get it right the first time!  

Copyright 2010 "The Best Way to Sell a Home - Get it Right the First Time!"

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Claudette Millette, Broker, Owner, MetroWest Properties & The Buyers' Counsel - (508) 881-6230

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47 Comments on The Best Way to Sell a Home - Get it Right the First Time!

20 Most Recent Comments Displayed Show All

NOV
18
2010
434,215 Points 2 Featured Posts Localism Sponsor Hit Router Called Shot Master
Claudette - This is a great blog for home sellers. I've re-blogged it cause its so darn good! :)
8:30pm • #28
Attended Rain Camp

Claudette,

Our local board release some stats last fall when the market was also tough.  I remember them well at every listing appointment.  Homes that go under contract without having to have the listing price reduced had an average time on market of 39 days to contract.  Homes that had to have listing prices reduced before going under contract had an average time on market of over 180 days before contract.  Great information.  I do not charge listing fees or admin charges so I only get paid to sell a home, not to list it.  While I take my fiduciary responsibilities seriously, I am not a charity and until I accept that listing, they are still just a prospect and not a client.
8:41pm • #29
244,267 Points 22 Featured Posts Outside Blog Called Shot Master

It is so important right now to listen to the agent that you have selected.  Trust that they work in the market every day and that this is not a "why don't we try this price and see" type of market.  The best opportunity to sell is to the first buyers through the door which won't happen if you are priced too high and getting the wrong buyers in!  Great advice!
8:48pm • #30
150,404 Points Outside Blog Called Shot Master

SO true!  You can't have a do over to list again for the first time!

I always say, it's better to list low and create competition....A frenzy of buyers!  You can't get the same effect by listing high and lowering the price!
9:46pm • #31
464,155 Points 1 Featured Post

I enjoyed the post today, thank you for getting it out to us today. i've bookmarked it and will re-blog because i think it's worthwhile to do so.

Patricia/Seacoast NH & ME
9:55pm • #32
400,570 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Craig:

Thanks. I hope sellers listen to the message.

Gay:

Buyers right now are expecting homes to be in close to mint condition or they are really not very interested - there is so much to choose from.

Garrigus:

Thanks for the reblog.

Dwight:

Those are powerful numbers.  I hope you bring them with you to your listing presentations. These are the types of things that sellers should be paying attention to right now.

Karen:

Exactly.  If you have done your homework and have chosen the right Realtor, you should listen to their advice.  We have been through the ups and downs at this point.

Allan:

If someone is serious about selling right now they have to heed those words.  Generate some interest and, hopefully, get several interested parties the first week on.

Patricia:

You are welcome.

 
10:16pm • #33
621,599 Points 11 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Congratulations on the feature Claudette. TWO SUGGESTIONS IN TWO DAYS. I am getting good at this again. For a minute I thought I lost my mojo:-). Great post.
10:59pm • #34
NOV
19
2010
400,570 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Lanre:

It seems as thought your mojo is intact. 

Thanks again.

 
8:32am • #35
467,812 Points 40 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Claudette, I almost missed this and what a great post to be featured! Excellent narrative and great points and truth be told, it's all about the basics! Nice work here my friend!
9:46am • #36
400,570 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Russell:

I am glad you caught it.  I would not want to miss a visit from you.  Thanks so much.

 
9:53am • #37
540,049 Points 17 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Claudette; I re-blogged this great post. I think sellers everywhere SHOULD read this.  Well written advise!!!
10:27am • #38
400,570 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Kat:

Thanks for reading - and reblogging!
10:29am • #39
839,784 Points 69 Featured Posts Outside Blog Called Shot Master

To do something out of the box in today's Real Estate market, one should not only have a reason for doing it....but a compelling one. If a seller or agent wants more $$, explain why....because everyone knows what the place is worth...now tell us what we don't know...and make it good I might add...Good post and thank you
10:40am • #40
801,467 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Claudette, I love the opening night analogy...you have the chance to set the stage and get rave reviews, or be criticized to the point where no one is willing to pay the price of admission.
3:12pm • #41
569,544 Points 1 Featured Post Localism Sponsor Outside Blog

Hi Claudette,  Lots of important insight in your post.  While it is often overlooked your reminder to get any repairs done prior to listing is critical !  Good selling to you !  
3:23pm • #42
126,302 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

Claudette-great post and oh, so right.  If every seller would read this, and actually follow the advice, their selling experience would go much smoother.
4:08pm • #43
306,008 Points 14 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp

Sellers never want to consider lowering the price once their home is on the market.  It's like pulling teeth to get them to understand the need and by then it's usually too late anyway.  The damage is done.
4:18pm • #44
486,374 Points 3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Getting it right the first time, is my motto, now all we need to have are clients that want to get it right the first.
9:33pm • #45
NOV
20
2010
400,570 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Richie:

Exactly, we know what the home should be worth from looking at what has sold but we can only be sure when someone is actually willing to pay it.

Steve:

You would think that I have a show business background- I am merely a consumer of great entertainment.  But, the same rules apply in presenting a home for sale.

Bill:

I have seen sellers wait to do repairs and they lost potential buyers who were turned off or even frightened by the poor condition, when all of that could have been avoided by a small investment to have the home show well from the first day.

Mel:

I agree.

Eric:

That is why is so important to encourage sellers to be realistic upfront about the price. Once it has been on the market priced incorrectly, valuable time has been lost.

Lorraine:

Great motto!

 

 
7:40am • #46
DEC
03
2010
324,724 Points 88 Featured Posts Called Shot Master

Claudette,

 

I'm playing catch up on my post reading. This is certainly a gem that I will reblog
11:45pm • #48

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