How We Will Sell Your Boston Condo or Home

List and sell a Boston condo or home

"Joe Wolvek went above and beyond to help us renovate, show and sell our condo in the South End. He helped us decide which renovations would make sense and which were not necessary. He worked with our contractors to get the work done in a very timely fashion. Once the condo was ready, he immediately got us two great offers. Finally, he made the negotiation of the P&S and the closing go smoothly...he is a master at his craft!"
Joan W., South End

Selling a condo or home in Boston

Selling your Boston condo or home...

...Is my number one business priority. This is what I do and what I love. I am the opposite of an absentee broker and I will be available and responsive to you. I have over 30 years and hundreds of transactions of experience and success marketing and selling condos and homes in Boston. My strength is in maximizing demand for your property, as well as in negotiation and transaction management. The great majority of my listings in the last five years have gone under agreement in under a week, at or above asking price.

 

I. PRE-MARKET PREPARATIONS

Meeting and walk-through MEETING AND WALK-THROUGH

  • We have a conversation in which I listen to what your your needs are in terms of timing, marketing preparations and other factors. Then we can put together the specific game plan.

  • I need to actually see and walk the property with you. Properties are not just a collection of rooms and square feet. Differences in the property, the building, if a condo, finishes, and just...feel...can produce wide pricing swings. 

  • I will gather all relevent information with regard to the specific property and the condo association, if any. This is in order to represent the property correctly on showings and advertising, as well as to avoid problems down the road.

Pricing a condo or home in Boston to sell  PRICING YOUR HOME OR CONDO

  • I will prepare an accurate price analysis using data from recently sold, pending and available properties, as well as my understanding of the market from 30+ years in real estate.

  • Assist you in determining what your proceeds would be after closing and other costs.

Preparing your property for the sales market PREPARING YOUR PROPERTY 

  • I will assist you in preparing your property to be placed on market to show it in its best light to potential buyers. My goal is to make it easy for you.

    • I can provide experienced advice on decluttering and moving furnishings, paint touch-ups, etc. if needed.

    • If your property needs to be staged, I can facilitate that. Here is an example of a vacant property which I had staged.

    • I can assist you in co-ordinating renovations, if necessary. I have done this many times. Here is an example. If you need great contractors, I have them.

    • If your property needs to be virtually staged, for photos, I can facilitate that.

Real estate marketing materials and media MARKETING MATERIALS AND MEDIA

  • In-house marketing department prepares global marketing campaign.

  • I will professionally photograph exterior and interior of your home or condo for use in ads, promotions, all online venues, and multiple listing services. I use only quality high-resolution photos from trusted vendors.

  • I will photograph fo3-D Matterport tour and video. Buyers now expect these materials in order to vet properties prior to visiting. 

  • I will have floorplans made to aid in marketing. 

  • I will prepare showsheets and digital brochures to be given to other brokers and potential buyers. 

  • I will create a website for your property. Click here for an example.

  • I (and Gibson Sotheby's International Realty) will post the property to more than 40 top lead generating local, national, and international websites (See here for more info). including Boston.com, Realtor.com, (and of course) Trulia and Zillow, NewYorkTimes.com (and the International edition), WashingtonPost.com, WSJ.com (WallStreetJournal), and FT.com (Financial Times), Hong Kong Tatler, South China Morning Post,  Juwai.com (accessible inside China), Sothebysrealty.com, GibsonSothebysRealty.com and many, many more, along with photos and virtual tours. We do more exclusive marketing to buyers, both locally and internationally than anyone else.  Additionally, the listing will appear on virtually all other brokerage and agent websites for maximum coverage.

  • Social media postings and ads: Your property listing is promoted to over a million followers via our social media channels creating optimal exposure. 

  • I will create "Coming Soon" postings in: MLS-PIN, TAN (Top Agent Network), All-Agent Connect, as well as Social Media postings in FB, Instagram, LinkedIn, Twitter, blog.

  • Plan “white glove” advertising program for appropriate properties.

  • I will mail "Just Listed" cards to neighbors and other potential buyers.

  • "For Sale" sign, if permitted.

  • It's vital to have the right team members to prepare, sell, and transact a property. I have a very deep bench of preferred attorneys, contractors, stagers, lenders, and others, and can suggest the right ones for you.

 

Placing your property on the Boston real estate market

 

II. ENTRY TO THE REAL ESTATE MARKET

  • Entry to "Top Agent Network." Usually, I find it appropriate to enter the listing into the off-market/pre-MLS network for top agents the week prior to going public in order to build up anticipation and demand for when we post in MLS.

  • Ideally post the listing to MLS-PIN, LINK (secondary MLS) and all other venues on a Tuesday for showings to begin on Wednesday. I want to get as many showings as possible, and make it as easy for buyers to view as is practicable.

  • Mass emailing from Gibson Sotheby's to over 10,000 brokers and potential buyers, as well as to my own network of clients and contacts, with photos, info, notice of open houses, and links to website. 

  • MLS "reverse prospecting". Property listing sent to brokers with matching buyer-clients.

  • My preference is to show by appointment all week, with broker open house 12-1:30 on Thursday, "commuter open house" Friday 5:30-6:30, Saturday and Sunday open houses 11-3 for new listings. For ongoing listings, 1.5 hours for most weekends with additional appointments available. I also post the 3-D virtual tour in MLS as a virtual open house. 

  • I bring my 30+ years of experience of Boston real estate to bear by providing quality professional showings to prospective buyers. What comes out of one's mouth during a showing can have consequences down the road. I perform all showings. I do not hand off keys or use lockboxes.

  • Appointments to be made with prior-day notice unless otherwise arranged. 

  • Spread the word in my own extensive network.

 

Links for further info on selling real estate

Handling offers to purchase real estate

 

III. OFFERS TO PURCHASE

  • Our objective is to procure multiple offers from qualified clients after the first weekend of open houses. If we are fortunate enough to accomplish that, review offers Monday around 6PM-ish. The listing in MLS and everywhere else will say, "Offers reviewed Monday at 6PM. Seller reserves the right to accept an exceptional offer prior to that." This ensures that everyone knows that they will have to step up to the plate in terms of price, contingencies, and financing (or lack thereof), and that we intend to wait for the deadline unless someone does submit an exceptional offer.

    Do a best and final call for offers for the next afternoon in the event of multiples, or if we don't just want to grab one.It's not just about the money, it's about getting the best, most motivated buyer. 

  • In this way, we create demand for your property, and a competitive situation for buyers. This gives you the best possible selling price and the most highly motivated buyer.

  • Evaluate offers on the basis of

    • Price 

    • Financing, if any. We obviously prefer cash offers, but if financed, evaluate the pre-approval terms, the credibility of lender, the ability of a particular lender to do a particular transaction (I like lenders that I know and who can get the job done), percentage financed.

    • Other contingencies, particularly contingencies for inspection. If the inspection contingency is not waived, encourage a high "deductible" for no "nickel and diming". I've seen many contingencies, in many flavors. We have to make sure there are no minefields, and the devil, to coin a phrase, is in the details....

    • Timing. Does the offer fit the seller's timeline needs (i.e. buying and selling on the same day)? Do the events of the transaction (such as buyer's financing committment) occur at the appropriate times?

    • My gut feeling on the buyer. How likely is this transaction to actually close? Do we want to get into a transaction with this potential buyer?

  • I will co-ordinate all offer related paperwork and make sure it is completed and submitted appropriately.

  • I will secure a mortgage pre-approval from buyer and ascertain that the lender can follow through. If not financed, procure a "proof-of-funds" document.

  • I will secure the buyer's "good faith" binder deposit and deposit in a Gibson Sotheby’s escrow account and account for all funds.

 

About the prurchase and sales contract in MA

 

IV. PURCHASE & SALES CONTRACT

  • Co-ordinate all activities, paperwork, and negotiations (along with seller's attorney) between seller's side and buyer's side. Help to ensure problem resolution and progress. Proactively assist in managing the details of the transaction. I take pride in my meticulous transaction management skills and seeing my transactions through to closing.

  • Co-ordinate with lender for condo questionnaires etc, expedite all needed documentation such as condominium documents, association financials, etc.

  • Attend the inspection, if there is one. The inspector will need access to the roof and all systems. Make note of any verbal comments from the inspector, ask questions where appropriate. Ascertain that seller attains the best possible outcome.

  • Co-ordinate and attend property appraisal by buyer's lender. Provide appraiser desired comparables and association information.

  • Monitor buyer's mortgage application status.

  • Retain buyer's P&S deposit in our escrow account. This figure is usually 5% of the purchase price and is determined on the offer.

  • Co-ordinate execution of the P&S. This usually occurs 10 days to 2 weeks after the offer execution.

 

Closing on your property sale

 

V. CLOSING ON YOUR PROPERTY

  • Obtain and present a Certificate of Insurance for the condo association, if applicable, for the buyer's lending institution in order to demonstrate sufficient coverage.

  • Obtain and present a 6(d) certificate from the condo association certifying that there are no unpaid condo fees or assessments.

  • Obtain and present a Smoke Detector/Carbon Monoxide Detector Certificate from the Fire Department.

  • Obtain a final water reading if you are in a single family or a separately metered condominium.

  • Expedite any remaining issues.

  • Ensure the proper flow of all deposited funds to closing attorney.

  • Organize and attend buyer's walk-through prior to closing.

  • Confirm closing date and time for all participants. Attend closing to in order to help resolve any problems.

  • Send you a closing gift and celebrate!

And this, my friends, is my job. This is what I do and what I love. And has been for many years! 

 

Home seller's closing costs in MA

 

VI. HOME SELLER'S CLOSING COSTS

The costs on the table below are called "closing costs", and will appear on your settlement statement. These costs are mostly approximate and very general. Assumes you've sold your home for $1m. You will be prorated back any unused condo fees and taxes. Your outstanding mortgage balance will be deducted from your proceeds.

Find a more detailed discussion of closing costs here.

  • Excise/deed stamp (based on a $1m selling price): $4,560+
  • Mortgage discharge recording fee: $105+-
  • Mortgage discharge tracking fee: $100+-
  • 6(d) recording fee for condos: $105+-
  • Town/city smoke/CO detector certificate: $50+-
  • Final water reading for individually metered units/homes: $25
  • Attorney fee: Per agreement
  • Broker fee: Per agreement
  • Wire/courier fees: $125+-


Additionally, if you are in a condo that is in a professionally managed building, your management company may charge for documents such as a filled out condo-questionnaire and procuring a 6(d), which certifies that you have paid all outstanding fees and assessments. If you use oil heat in a single family or a separately-fueled condo, you may receive a credit for unused fuel in the tank. 

 

VI. OTHER REFERENCE MATERIALS