Boston‘s high-end real estate market runs the gamut from meticulously restored historic houses to amenity-rich modern condos in brand-new buildings, which can make figuring out how best to sell your luxury property a bit confusing. This is when finding the right agent can mean the difference between getting a good deal and getting a great deal.
Michael Harper, an agent with Coldwell Banker Residential Brokerage Boston Commonwealth Avenue, says, “Selling a luxury home is not like selling any other property.”
U.S. News asked some of Boston’s top real estate agents, as identified by Agent Explore, a real estate technology company (and a U.S. News partner), what makes the luxury home market unique and what sellers need to do for a seamless sale.
Luxury, defined
Tracy Campion, principal and owner of Campion & Company Fine Homes Real Estate, defines luxury by quoting one of the real estate industry’s most repeated maxims: “Location, location, location.”
[Read: 4 Real Estate Trends to Know Before Selling Your Home in Boston.]
After that, she adds, “The quality of construction, the design of the property, the appearance. We’re lucky enough in Boston to live in historic neighborhoods. There’s Back Bay, Beacon Hill, the South End, but you can go all over the city. There are also new high-rises and brand-new buildings.”
Harper agrees that location is key, and homes in certain addresses and neighborhoods bring in big numbers. He says other key factors in Boston, especially in areas like Back Bay and Beacon Hill, include perks like parking and outdoor space.
Find the right agent.
More than anything else, sellers must find the right agent. Harper says, “It’s really important to engage someone who knows the market. A broker who has skill and knowledge and comes with a proven track record. I’m great on the downtown market, but [for sellers] in the suburbs, I’d refer them to someone else.”
Campion, who has been in the real estate business for more than 30 years, offers the same advice. “Go to someone who has a track record. You want experience.” She says sellers should interview several agents to find the right one for them. “It makes all the difference in the world who your broker is,” she says. “Go to a top broker, who has your best interests at heart, someone who’s at it all the time, not part time.”
Marketing is key.
Christopher Sower, senior vice president with Colliers International, says, “We’re big believers in creative marketing campaigns.”
Strategies he uses include building custom websites for all his properties, using social media to promote them and even going overseas to court potential buyers.
[Read: 3 Things Boston Home Sellers Should Ask Before Hiring a Real Estate Agent.]
Harper says that marketing begins early — “before you even put your home on the market. We make sure we have outstanding marketing materials.”
This involves first decluttering the home, hiring a photographer who is an expert in architectural images and using high-quality photos to showcase the property at its best.
Setting the scene
Sometimes people get carried away making major improvements to a house, but that’s not always a good use of time or money.
“Luxury buyers either want something ready to go or they are going to customize on their own,” Harper says. He advises clients tackle easy tasks — clean, tidy up, maybe replace old fixtures or paint rooms — rather than launch into a full-on renovation.
Campion says, “In today’s market, you want to make sure the property puts forth its best. You can hire stagers, declutter. When someone lives in a property a long time, they sometimes don’t see things. People are unaware. A broker can really see what needs to be done.”
Sower says, “Every property is different. Get it in the best condition as possible.” He advises sellers to make their homes as neutral as possible, so buyers can picture themselves there.
The right price
Your agent will help you figure out where your luxury property fits in the real estate landscape, which involves researching other properties like yours.
[Read: 4 Red Flags to Look for Before Accepting an Offer on Your Boston Home.]
Harper says an expert agent will know how to accurately price your home by going over recent deals near you, deducing what’s in the pipeline, even finding out what’s trading off-market, so you’re competitive, yet realistic. He also says knowing the clientele is key.
“Often luxury deals are done before they even go on MLS,” a listing of homes on the market, he says.
Campion says, “This is one of the biggest transactions in their life,” so it’s important to get it right.
Looking for a real estate agent in Boston? U.S. News’ Find an Agent tool can match you with the person who’s most qualified for the job.
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How to Define Luxury Real Estate in Today’s Market
5 Things to Consider If You’re Selling a Luxury Boston Home originally appeared on usnews.com
