Pricing a Boston condo or home for sale

How I price a condo or home for sale in the Boston area

"Joe Wolvek went above and beyond the call of duty as a real estate professional and acted as my eyes and ears as we put my condo unit on the market while living 3000 miles away. Joe was always available and responded to my emails and calls quickly. He has a friendly manner and injects humor into a process that can sometimes be stressful. Joe knows the Boston market. He told me that if we made some fairly low-cost improvements, and if we timed our listing just right, he could possibly sell our unit in 2 days. I was skeptical, but followed his instructions. We had it under agreement in 2 days, just like he said. Go with Joe, he is fantastic!"
Susan L,
North End


Quick and dirty home pricing doesn't cut it.

Pricing your Boston home or condo for saleNeed to find out what your Boston home or condo is worth?  We've all seen ads for instant home price workups scrolling through our Facebook feeds. The problem is that the algorithm doing the pricing of your Boston home or condo doesn't know about the condition of the property, how it shows, how the common areas look, how owner-occupied the building is, the financial condition of the association, what part of the block it's on, what work has just been done or is coming up, and just doesn't have a "gut feel" based on over 30 years of experience.

I do. In addition to my experience as a Boston  Realtor, I've also had experience as an appraiser. I know how home pricing works. Since the beginning of 2015, my Boston listings have sold for on average over asking, with a median of about a week on market ‘til accepted offer. 

With home or condo pricing, as with most other things, you can get it done quickly or you can get it done correctly. I can get you a real, accurate price  that I can stand behind within a few days. Pricing is one of the most critical decisions you can make regarding the sale of your home. 

 



 

Obviously, you don't want to price your property too low, and even in this very active market, overpricing has serious consequences.

It is far better to have your property priced properly from the outset. As a listing broker, my object is to have everybody at the first open house afraid the the person next to them is going to buy the property. And the beginning of the marketing period is when your home or condo will attract the greatest number of motivated buyers. We want to capitalize on that. Time is not your friend as a seller.

My M.O. (unless there are other timing needs) is to get the property on the market on a Tuesday, and show the heck out of it all week. Broker lunch on Thursday, commuter open house Friday afternoon, Regular open houses Saturday and Sunday (private showings too). We make clear in the MLS that the seller will review all offers on Monday at 6 after the open houses and showings. That way, we maximaize the chance of competition for the property. If someone wants to short-circuit the process, that's fine, but they're going to have to step up to the plate with an exceptional offer in terms of price, financing and other terms.

Here is an example of my very detailed Comprehensive Market Analysis, or CMA. This is not an educated guess. It is a thoughtful analysis of how best to position your property for maximum return (BTW, this mystery property sold for $2,000,000 in 4 days. $150,000 over asking). I know that when I give you a number, I need to stand behind that number. I do NOT like to have to tell a seller that we need to reduce, so I do the best I can to get the number right from the outset. 

I look first at the relevent sold, pending, and available properties, sometimes known as "comparables". Relevent comparable properties are judged not only by neighborhood, square footage or numbers of beds or baths.  Is it a corner unit, a brownstone unit, or a condo in a luxury building? Has it been totally renovated or is it an older unit that needs a lot of work? High ceilings? Light? Views? Parking? Outdoor space? Etc., etc., etc. Lots of tangibles and less tangibles. And in the case of investments, ROI is critical.

We also look at the behavior of the current market and what we can project into the near-term future.

The good news is that I have over 30 years of experience pricing condos and homes in the Boston area. I've been in many of the solds, pendings, and availables. I can give you good advice on pricing. 

And my long experience as well as the superior marketing platform of Gibson Sotheby's International Realty make me a very good choice for listing marketing, and selling your property. Please complete the form below, and we can get started on the pricing process. There's no obligation and I look forward to speaking with you.

Or feel free to call me at 617.584.9790.

 

 

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