You have lived a happy, fulfilling life in Somerville, one of the fastest-growing and vibrant cities in Massachusetts. It is where you and your family have established your roots, blossomed together professionally and personally, and made strong connections with your neighbors.
But now, the time has come for you to put up your lovely home in the Somerville, MA real estate market. Naturally, you’d like to have the best price at the soonest possible time, as well as a prudent buyer who is most likely to take good care of the property that has made a lasting impact on your life.
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CHOOSING THE BEST WAY TO SELL YOUR SOMERVILLE, MA HOME
At this point, you might be asking yourself what your best approach should be in selling your home. Do you want to go the FSBO (For Sale By Owner) way, taking all the responsibilities of home-selling, including the old-school marketing tactic of hanging that “House for Sale” sign on your front lawn? Or would it make more sense to search for the best real estate agents in Somerville, MA to help you in your massive endeavor?
FSBO: GOOD OR BAD?
Some new or first-time home sellers gravitate toward doing the entire home-selling process on their own – and for good reason. Since they know the property like the back of their hands, they think they can make the most attractive pitch to potential buyers better than anyone else. At the same time, the outgoing home resident in you might be checking out buyers to see if they will pass your standards. Finally, in selling the property by yourself, you believe that you’ll be saving a lot more instead of having to pay for agent commissions and related fees.
Those are valid concerns that professional real estate agents in Somerville, MA are well aware of. However, what home sellers need to understand is that real estate agents are professionals with a fiduciary duty to protect their clients’ interests. Their skills and experience also make them excel in their job, enabling them to get the best price for a home using tools of the trade made available to people within the industry. They can market a property to prospective buyers who are well outside an FSBO seller’s reach. Even before a house gets listed, they are already on hand to help in making it more attractive to buyers. Real estate agents in Somerville, MA also take care of dozens of tasks that concern legalities, accounting, and taxes. They keep their clients updated on all developments concerning their respective properties that could affect pricing.
Being a person with many other obligations in your life, going DIY with the home-selling process is bound to cut into your time. And even if you were to allot the time, your lack of experience could expose you to the risk of committing costly mistakes and unwarranted delays. Ultimately, your original plan of enjoying savings in agent fees may result in the exact opposite, on top of not getting the sales result you want.
The entire process of putting a property on the market, making and closing a sale, and attending to post-sales requirements goes beyond the proverbial “For Sale” sign in front of your house. This is why a real estate agent’s expertise is crucial to the home-selling process.
HY IT PAYS TO HAVE A REAL ESTATE AGENT WHEN SELLING YOUR HOME IN SOMERVILLE, MA
Market knowledge and pricing expertise
The first reason has to do with market knowledge and pricing. Real estate agents are the experts in these areas. They have in-depth knowledge of the value of properties in your area block by block, street by street, and sometimes, house by house. This is particularly true in Somerville, MA, which has 20 city squares defining the boundaries of neighborhoods. Agents know why a bungalow can fetch a higher price as opposed to a two-story single or even condos (this goes beyond just the number of floors). They can quote the numbers to buyers at any given time, from the median and average sales prices to the average price per square foot of properties. For example, they can explain to an out-of-state buyer the rationale behind the price of real estate in Somerville, MA and what makes it worth the investment.
The breadth of knowledge a real estate agent brings to the table makes them convincing and credible sellers. To illustrate, they could show parents the neighborhoods that are near top-rated schools for their children or point out new developments like construction projects that may add luster and higher value to the neighborhood.
In the same way, the real estate agent could narrate the story of your house to the buyer and enumerate points that give it an edge over other properties on the market. In rationalizing your home’s price point, they could state infrastructure, amenities, and proximity to parks and other venues for recreation that make it more aligned with potential buyers’ respective requirements and lifestyle preferences than other items on the multiple listing service (MLS).
Effective marketing and exposure
The 2022 Profile of Home Buyers and Sellers by the National Association of Realtors notes that only 4% of buyers discovered the homes they bought via the “for sale” yard sign. On the other hand, more than half of them (51%) found their homes via the internet. These figures are testaments to the effectiveness of digital technology in reaching out to buyers in comparison to the “for sale” yard sign. More buyers also look for trustworthy real estate agents and their credentials on social media platforms like LinkedIn and Facebook.
Real estate agents understand the power of digital technology in coming up with a solid and effective marketing campaign. This is why the best of them invest in the most advanced digital tools to help them put together a marketing campaign for your Somerville, MA real estate.
If an agent has been in the Somerville, MA real estate market for a substantial amount of time, they would have been able to form a wide network consisting of professionals from the industry and other affiliated sectors. This network is the key to expanding your reach, especially to potential buyers who prefer offline transactions to keep things under wraps.
Negotiation and transaction management
Another factor that can work in your favor is the excellent negotiation and sales skills that established real estate agents in Somerville, MA possess. They have studied what makes your property, its location in relation to community amenities, and the neighborhood itself sellable and attractive to buyers. They have a thorough understanding of the buyer profile, their needs and wants, the lifestyle they prefer, and other minute details that will allow them to immediately determine what will persuade the buyer to close the deal.
For example, for young single professionals, local real estate agents could highlight the artistry and liberalism that energize the culture of Somerville, MA. They can point out how the huge living room and garage in your home could be the perfect place for holding parties and brainstorming sessions. Now, when they pitch the same property and location to those with growing families, they may emphasize the low crime rates, great schools, and suburban atmosphere that Somerville is known for. They could also give special attention to your home’s three bedrooms and two study rooms; thus, giving every family member the space and privacy they need.
Local real estate agents are also aligned with you in one important matter: they will work in your best interests. They can answer confidently why your home is worth its asking price and will make sure that the deal closes with you taking generous profits from it. FSBO sellers are unused to this kind of wheeling and dealing. Answering the tougher questions prospective buyers throw their way can become awkward and even emotional. As a result, no sale is closed.
And speaking of emotions, it’s not uncommon for negotiations to become emotionally charged, especially since you are selling a property that has contributed to many of your good memories. Some sellers tend to add these emotional sentiments to the final price of their home for sale. Your real estate agent is that one person who could lead you back to the concept of selling a home as a business transaction. With your feet more firmly planted on the ground, your real estate agent could better negotiate on the finer nuances of your home at a price that could easily be defended.
Preparing your home before and during the sale
BEFORE HITTING THE MARKET
Professional real estate agents in Somerville, MA emphasize the need to stage your home as a way to highlight it in its best form. Note that staging your home doesn’t require you to break the bank – sometimes, all your home needs is a thorough cleaning, decluttering, repainting, and repairing or replacing of damaged fixtures. And if you need professional help in any part of the staging process, these agents could simply tap into their network and give you a list of affiliated service providers who are reliable and can do the job in the best way possible. Then, before listing, they could help you find the best areas of your home to feature in photographs or refer a professional photographer who could find the perfect angles for their shots of your home.
Given the many homes they have looked over and sold in the past, their eagle eyes could also spot flaws in your home that might turn off potential buyers. These include insect infestation, defective utilities, poor electrical wiring, leaking roofs, and weakened wall structures, among many others. They may even recommend the services of a home inspector to spot brewing problems that may be hiding from the naked eye. Once these problems are identified, you have the option to either have these taken care of yourself or disclose them beforehand with an adjusted price point.
DURING THE SALE
Your real estate/listing agent will be representing you during home viewings, whether in open-house viewings or those conducted online. They will be in charge of welcoming potential buyers and answering questions. Your role will involve maintaining the home’s appeal and being up-to-date with the nuances of home ownership like paying for utility bills and taxes, among many others. You’ll want a sale in the quickest time as the longer your house stays in your hands, the more costly it gets to maintain it. Your real estate agent is aware of that and will keep working in your best interests to sell your home fast.
Legalities and paperwork
There is a lot of paperwork to be done when selling a home in Somerville, MA, along with coordination with the necessary business organizations and government bodies. Documents have to comply with existing real estate laws and statutes. A professional real estate agent, especially one who has been in the Somerville, MA real estate market for a long time, already has a mental checklist of all these required papers and forms.
Meanwhile, as an FSBO seller, you will have to read up on all the current guidelines and legalities involved. You simply won’t have the time to “catch up.” That said, you run the risk of seeing delays in your transaction at the least to violating a law or guideline at worst.
Adapting to market needs and trends
The best real estate agents evolve and adapt to the needs and trends of an ever-changing market. They constantly upgrade their market knowledge and skills to remain in touch with these changes. This helps them to reach out to the various demographics and avoid one-size-fits-all recommendations.
For example, a tech-savvy real estate agent can use virtual reality to conduct a remote tour of your home to people from outside the state. These potential buyers are spared the time and money to make a long trip to see if your home is what they are looking for. That virtual tour, augmented by the real estate agent’s savvy sales pitch, convinces them to buy your property. Meanwhile, an FSBO seller may not have the digital expertise and tools that will allow them to reach out to the out-of-town crowd.
Reduce stress and bring the best price
Going through the home-selling process, you have the option to work with a real estate agent or go through it on your own with the thought that you save on professional fees. While at the onset, you do incur savings, you will also be putting much of your time and energy into the process to ensure the best results from the transaction. Plus, there’s the danger of making mistakes at any part of the process that could have costly consequences.
Considering the complexity of the process, as well as the narrow margin of error required while going through it, it helps a lot to have a good real estate agent in Somerville, MA sparing you from the stress involved in selling your home. They also give you back the precious time that can be better spent on your family, business, yourself, and other pursuits.
Studies also show that this is a worthy investment. The 2023 NAR Profile of Home Buyers and Sellers says that only 7% of FSBO sellers managed to sell their homes at price points that were lower than their respective asking prices. Meanwhile, the same report shows 89% of home sellers concluding the transaction with the help of a real estate agent at a median final sales price that’s 100% of their listing price.
GET THE BEST DEAL FOR YOUR HOME IN SOMERVILLE, MA WITH THE STEVE BREMIS REALTY GROUP
Let us be your partners in selling your home in Somerville, MA from start to finish. With over 60 years in the industry, our seasoned team of agents at the Steve Bremis Realty Group will always put your best interests first. We are adept at market realities and changes, real estate industry laws and guidelines, and buyer preferences and tastes. Our knowledge of the ins and outs of Boston, Arlington, Cambridge, Medford, and Somerville can give your home the value it deserves and the best returns on your investment.
Call us at 617.828.1070 or send your email here to start your home-selling journey with us!