Our new resale single family home listings remain a rare entity in Franklin MA. My marketing is well underway with target marketing to owners of individual buildable lots in Franklin and Fix and Flip homes.
The latter is a stab in the dark and based on low tax assessments that hopefully reflect size, age and condition. I’ve mailed in that fashion in the past and have had a good return. This is a different time, for sure!
There is no commission charged on either of these concepts. With the lots, our builder gives us the listings and the fix and flips are handled the same.
I’m sure most of you are not in favor of that, but I want my phone to ring. This makes it ring, and it also gives us a very good relationship with the builders who work with us. We never double dip. It just makes the deal too expensive for the builder to secure. The risk is greater with an increased price.
When I found tracts of land for subdivisions, I never charged a commission. I closed 40 subdivisions of homes and condos as a result of waiving the land commission. Do the numbers!! It’s a no-brainer. I collected a full commission, even if the builder had to go to the closing with a check, when the market had tanked.
We presently have a duplex being built on a lot we found. It was actually in a subdivision that I handled and the owner called to see if we had a builder. She knew we would not charge her a commission on the land, and she was right. We will have two new townhouses to sell for just under $500,000 each.
The chart reflects the existing 11 single family resale homes with a price range from $296,000 to $699,000. In a more normal market, we would range up into the $1million dollar range. Our Average List price is $470,200 and the Median List price is $450,000. Both of those numbers are lower than we have previously experienced.
This is a very small pie chart, but it will improve very soon.