country homes, country properties, real estate harvard to princeton ma

The Savvy Seller

I offer special commission terms to Sellers whom I represent in both the sale of their current home and the purchase of a new home.

If you would like to take advantage of this Savvy Seller bonus but are planning a move out of state, that's no problem! You will still be eligible for the rebate if you give me the opportunity to refer you to a Coldwell Banker agent who works in the area in which you will be relocating, and that agent is successful in assisting you in the purchase of your next home.

The CMA

If you're thinking about selling your home, a good place to start is to obtain a Comparative Market Analysis (CMA), which will give you a good idea of the price at which you should be able to offer your home, and the likely sales price that you should achieve. If you'd like me to do a CMA on your home, just contact me.

A CMA is done at no cost or obligation to a Seller. It's a service I provide and of course, I hope that the seller will decide to list her home with me when she does decide it's time to sell.

Every agent has a slightly different approach.

Here's mine:

Before I even visit the home for the first time, I'll stop at the local Assessor's Office, to obtain a field card, the Town's official property record for the home. It will provide the home's total square footage, a rudimentary description of the interior and exterior, a graphic representation of the "footprint" of the home, verification of the year in which the house was built, and a history of all transfers of ownership. I will also obtain copies of the current deed and the Assessor's map of the area, so that I understand the plot plan of the property, as well as any issues that may arise as a result of its proximity to nearby land (e.g., does the lot abut conservation land or a future industrial park?).

I will schedule an appointment with the seller to preview the home, in an effort to determine its overall condition, the extras or special features it includes, and the flow of the floorplan. I will try to see the home as a prospective buyer will see it, and make notes on the attributes and amenities that I know home buyers will find attractive, as well as on problems or conditions that may need to be addressed before the homes goes on the market.

While I'm there, I will take digital photographs of the exterior of the home, as well as of the rooms that seem to best exemplify the home's features and character. These will be used in my marketing materials, including color brochures, newspaper ads, and enhanced listing sheets on realtor.com.

During the next few days, I'll obtain comparative market data about similar homes in the same town that have sold within the last 6-12 months, those that are "under agreement," and those that are currently on the market.

I'll analyze those data from several perspectives, including price-per-square-foot and the ratio of the assessed valuation of the "solds" to their demonstrated market price. I will also consider such factors as the relative desirability of the neighborhood, the price at which new construction in the same town is being offered, and the town's historical "Absorption Rate," indicating how long homes in the same price range have stayed on the market during the last 12 months.

I will present the results of my market analysis to the Seller, with a suggested List Price, an anticipated Sales Price, and a "Net Sheet," showing how much the Seller can actually expect to receive at the closing table.

I will also outline my marketing plan for the home, including a proposed schedule of Open Houses (both Brokers' and Public), direct mail efforts, newspaper ads, and Internet promotions, through placement on this site, Realtor.com , NewEnglandMoves.com, ColdwellBanker.com, and my companion sites, MassachusettsCountryHomes.com and HarvardCountryHomes.com.

The decisions as to the price at which the home is listed, the length of the listing contract and the showing instructions way are all at the Seller's sole discretion.

Preparing to Sell

Since most Sellers in my market area have septic systems, I always recommend that they have a septic system inspection performed as soon as they begin thinking about putting their homes up for sale. The state's Title V regulations mandate that in most cases, the septic system must have passed inspection by a state-certified practitioner within 24 months of the sale. Though Title V does not specifically require home Sellers to repair or replace deficient septic systems, it is customary for Sellers to do so because most offers include a contingency indicating that the buyer expects the Seller to assume this responsibility.

Older homes may have one or more underground storage tanks buried somewhere on the property. Sellers may not even be aware of their existence, but should know that if they are discovered in the course of a home inspection, the prospective buyer will insist upon their removal, in accordance with local regulations. If a Seller is aware of an underground tank's existence and location prior to the time that his home is put on the market, the best course of action is to make arrangements for its removal. The local fire department is the best source of information and referrals on this matter.

There are two schools of thought as to whether or not Sellers should undertake renovations before they offer their home for sale. A fresh coat of paint, recently polished hardwood floors, and updated carpeting or vinyl flooring can certainly add to the clean, uncluttered appearance that is so helpful in attracting a buyer's eye, particularly if the colors are neutral and enhance the home's feeling of spaciousness. On the other hand, some Sellers believe that these remodeling touches should be left to the discretion of the new homeowner. In that case, the house should be priced accordingly, to reflect anticipated cosmetic makeovers.

When I make a listing presentation to prospective Sellers, I always leave behind a copy of Coldwell Banker's useful booklet, Dress Your House for Success, with practical tips about staging your home to ensure maximum appeal. Please contact me if you'd like a copy!

Timing

If you are planning to sell in order to purchase another home in the area that better meets your needs, the question arises: Which comes first? Do you put your home on the market while you are looking for a new home, or do you wait until you have found the perfect new home before you offer your current residence for sale?

The danger of waiting to list is that the Seller of the home you want may not be willing to accept an offer that is contingent on the sale of your existing home particularly if your home is not even on the market.

An often-successful tactic is to put your home on the market with the caveat: "Contingent upon Seller's Relocation." That signals to a prospective buyer that there may be a greater-than-average interim between the execution of the Purchase and Sale Agreement and the actual closing, but if they are first-time buyers, that arrangement can often work just fine.

Listing Your Home

As part of the listing process, I will explain my responsibilities to the Sellers under Massachusetts Law, and review with them the terms of the contract, which will give Coldwell Banker Residential Brokerage an "exclusive right to sell" their home. That means that a commission will be due to our agency when the home closes and the transfer of ownership is recorded at the Registry of Deeds, even if the Seller's neighbors or best friends are the eventual purchasers of their home (unless those parties are specifically named as "exclusions" in the contract). In most cases, a description and photo of the home will be entered into MLSPIN, the multiple listing service that covers virtually all of the state, and cooperating brokers will be invited to share the compensation which will be paid to CB Residential Brokerage..

Sellers are usually asked to complete a lengthy questionnaire called the "Seller's Statement on Property Condition," which gives them an opportunity to disclose pertinent information about the condition of the property that will be of interest to serious buyers.

I will include the Seller's Statement in the "Home Book" that I prepare, to be available at the property for visiting buyers and their agents. Also included in this customized binder are color feature sheets describing the home and its attributes, and every other document that a prospective purchaser would want to examine before making an informed buying decision.

Selling Your Home

As a Listing Agent, my primary job is to obtain the highest possible price and to negotiate the best possible terms on behalf of my Sellers. I also take great care to ensure, at the time of the offer, that the Buyers are well-qualified to enter into the transaction, so that the home does not go "under agreement," only to fall apart at a later date as a result of a failed mortgage contingency.

Knowing that the experience of putting a home on the market can often be extremely disconcerting and emotionally trying for a Seller, I do whatever I can to make the process as stress-free as possible. I have found that the most important things I can do for my Sellers are to communicate with them regularly, to be accessible when they need me, to anticipate potential problems before they occur, and to return phone calls promptly!

If the home seems to languish on the market with few showings, or if there is a lot of activity but no offers, Sellers are likely to wonder: Why isn't My Home Selling? There can be many reasons, and to pinpoint them, I'll invite agents who have brought buyers to share their candid comments about the home's condition and price, and I'll update my original CMA, seeking to discover whether the market environment has changed since the house was originally listed.

Most of the time, we can successfully kindle renewed interest in the home with a reasonable price adjustment. That automatically brings the home back onto the radar screen of local agents through the daily MLS update, and it will attract a new segment of buyers for whom the home is newly in their price range.

My promise to my Sellers is that I won't quit until we get it done! Whatever it takes--new ads, different photographs, rearranging the furniture, or even changing the time of the Open Houses--I'm committed to remaining flexible, creative, and fully focused on our mutual goal.

Maureen Harmonay, CRS, GRI, ABR
Licensed in Massachusetts and New Hampshire

Your Country Property Specialist

RE/MAX Traditions

1084 Main Street
Bolton, MA 01740
MHarmonay@YourCountry-Home.com
Direct: 978-502-5800
Toll-free: 866-666-8880
Fax: 978-389-0073

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