23 Neighborhoods: a boston real estate blog by Michael DiMella
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So I'm on the way home from Inman Real Estate Connect, a real estate and technology conference I was attending in New York City this week. Lots of great sessions on, well....I am sure you can guess, the state of the real estate market and how to utilize new technology to improve real estate services and marketing.
are two major differences between homes that sell in this market and homes that
don't: correct pricing and proper staging.
is more important than the other, and both play key roles. They are dance
partners who must be in sync for a sale to take place (not that I know much
about dancing!). I'll give you a classic example that recently took
place. In early spring, my business partner and I met with clients who
had their condo in the Back Bay on the market
for nearly 4 months with no success when they called us for help. The
asking price had started at $695,000 and had been lowered a few times over the
4 month listing period, eventually to $649,000. Their condo should have
been able to sell at that price, so they thought. Still no buyers
went in to meet with the owners, Alma Dell and Lyle, and actually agreed with them. Their property
should sell at that price and we even suggested it could even sell for
more. But the current problems were two-fold. The price was too
high from the beginning, eating up market time and not creating an atmosphere
in which buyers felt they needed to act quickly. The other issue was how
it showed. Since the property was mainly used as a home office, it was
configured that way. The bedrooms were used for desks and books and
chairs, the living room was functional but sparse, etc. Buyers did not
see it as a home.
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