Posts Tagged ‘real estate agent’

For Potential Billerica FSBO Sellers, Points to Ponder

It’s illuminating to visit For Sale by Owner websites from time to time to see if there are any new insights to be gleaned. True, as a licensed Billerica Realtor®, I’m not likely to learn much new when it comes to selling Billerica homes—but that’s not the motivation. Call it ‘opposition research:’ the reason is to uncover any areas where the services I provide aren’t superior to what a do-it-yourselfer can come up with on their own.

Here are some takeaways from the FSBO sites Google recently presented as the most frequently consulted sites. I’ve included my opinion about the pronouncements—either valid or less than valid:

Valid: Valuing your house is an important step toward FSBO success. Absolutely true, if “valuing your house” means incorporating the latest Billerica comparable sales adjusted for the features that make your property unique.

Valid but irrelevant: Your lender will more likely sell your mortgage to another bank, sometimes within the first 72 hours. Although this is sometimes true, it has nothing to do with anything a potential Billerica FSBO owner needs to worry about.

Valid: “This should be no cause for alarm.” The reason why the above pronouncement about mortgage lenders’ procedures is a non-issue.

Less valid: “[name of an online service] is a free tool that instantly estimates your home’s value…”   As has been shown time and again, automated systems (even the top 3 national ones) can come up with wacky valuations—it’s why they ask homeowners for corrections. Compiling a carefully researched, up-to-the-minute comparable presentation is only one part of what you can expect from any licensed Realtor. Both are free.

Less valid: Whether you list your home with an agent…or sell your house on your own, it is going to involve considerable effort on your part. More candid would be pointing out that the considerable marketing, advertising, and negotiating activities in addition to timely compliance with all legal and financial deadlines are parts of the considerable effort that your Billerica agent undertakes for non-FSBO sellers.

Valid: Another pricing [tactic]…is calling a real estate agent for a Comparative Market Analysis…the agent’s point of view could be valuable. I couldn’t agree more!

Billerica FSBO properties are commonly passed up by serious-minded house hunters wishing to avoid non-professionals in such a major transaction. Since those are the prospects sellers should try hardest to attract, that’s one point you never find on any FSBO web site.

In case you’ve been toying with the For Sale by Owner idea, I hope you’ll first give me a call for a no-obligation discussion of your property and goals—and what makes the most sense for you!

Joan Parcewski, Realtor & Notary

LAER Realty Partners           http://www.JoanParcewski.LAERRealty.com

JParcewski@LAERRealty.com    cell 978-376-3978

 

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Selling Your Bedford House: a Tool Called PST!

If you see the letters “PST!” in connection with selling a house in Bedford, don’t think it’s someone whispering to get your attention (that would be spelled “psst!”).

The selling-a-house kind of “PST” isn’t something whispered by a black marketeer to keep an off-the-books deal under wraps. There’s no need to speak in hushed tones about PST in polite conversation. When speaking about selling your Bedford house, its meaning is right out there in the open. It may not be on the tip of every homeowner’s tongue as they prepare their home for sale, but its import is undeniable in formulating one of your listing’s most important ingredients: the asking price.

Before any Bedford house can be put on the market, zeroing in on the dollar amount the ultimate buyer will be willing to pay is always a kind of high-stakes guessing game. This mysterious buyer could be anyone. He or she could appear at any time. Even so, picking an asking price that attracts the greatest number of possible ultimate buyers isn’t pure guesswork, nor is it some number that’s plucked out of the air. And it definitely isn’t a large number that’s chosen “just to see what happens.”

The most reliable way to arrive at an effective asking price is to do some serious investigation into the current Bedford market by seeking what previous buyers have been willing to pay. That’s where PST! comes in.

This “PST” is an acronym for Proximity, Similarity, and Timeliness—the three main ingredients that measure the quality of Bedford “comps”—the comparable sales figures that buyers, their agents, lenders, and sellers rely upon to develop asking and offering prices.

P—proximity: how physically close was the sale? Next door is best; in the neighborhood also good; 50 miles away, pretty worthless.

S—similarity: how do the layout and features compare with your house? With a slight adjustment, a 4 bedroom 3 ½ bath comp is useful for your own 4 bedroom 3 bath property. For a 1 bedroom condo, not useful. It’s important to account for level of finish, too. If a neighbor’s home sold for X dollars including its brand new $80,000 kitchen remodel, a similar house that’s straight out of the 80s shouldn’t expect the same.

T—timeliness: how recent was the sale? A March sale would be terrific right now; January 2015, not so terrific.

Researching and analyzing a good sampling of comps accomplishes more than just establishing the asking price. Being able to furnish a solid selection of comps convinces buyers that you are selling your house for a reasonable price. And lenders can use them to verify a property’s collateral value in today’s Bedford marketplace.

When you are selling your Bedford house, a good first move is to partner with an experienced local real estate agent. When you give me the nod, from the outset, you will be the beneficiary of the most comprehensive PST research available. That’s a solid place to start!

Joan Parcewski —CRS, MRP, CSHP, SRES, CBR, LMC, Realtor & Notary
978-376-3978   JParcewski@LAERRealty.com    OR    JParcewski@gmail.com
 
Licensed MA & NH    
Introductory Video  https://youtu.be/RrM4q17cjU0
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