If you are ready to list your property on the Back Bay real estate scene, you’re already one step ahead of the game, as the area is highly desirable. This signature neighborhood in Boston is known for its incredible Victorian brownstones, beautifully preserved since the 19th century. Located near the Charles River, Back Bay also provides residents easy access to the Boston Public Library, Copley Square, and the iconic monuments along Commonwealth Avenue.
If you are planning to sell a home in Back Bay, there are a few obstacles to watch out for. Here are some of the most common mistakes home sellers make and how you can overcome them.
Failing to prepare properly
When getting ready to list, it’s essential that you make preparations to set yourself up for success. Don’t make these crucial mistakes that will prove costly down the line:
Ignoring your goals
When you are planning to sell your home, you should first consider your goals for the sale. You need to know exactly why you are selling so that you can handle any unexpected emotions that may arise on your selling journey. A home is a significant purchase and often comes with emotional attachment. Knowing your “why” will help you if you start to feel mixed emotions about the sale.
Lack of financial preparation
In addition, take the time to consider your budget and any financial considerations. Planning for additional costs, such as moving, storing, and closing costs, will leave you better positioned once an offer has been made. With your finances in line, you’ll be ready to move forward confidently.
Overlooking the clutter
The next step in preparing your property is to consider how you can declutter and create an inviting space for prospective buyers. Homes that are listed properly are clean and clutter-free. Shoes scattered near the entryway and clothing draped over furniture are distracting to buyers. They tend to notice these details rather than the beauty of the entrance or the spaciousness of the living room.
Once you have cleared out the clutter, it’s important to depersonalize each room by removing memorabilia, photos, and other personal items. When potential buyers walk through your home, they will want to picture themselves living there rather than being reminded of the previous tenants at every turn. This will also help with the process of detaching yourself emotionally from the home, too, as your personal items will no longer be in plain sight.
Skipping basic repairs
Don’t make the mistake of overlooking any basic repairs or updates that need to be made prior to listing your home on the Back Bay real estate market. Take the time to fix the leaky faucet, replace the burned-out lightbulb in the laundry room, or adjust the squeaky hinge in a kitchen cabinet. Buyers are more likely to remember a home favorably if they do not see a list of to-dos that need to be completed after they move in. You may also want to consider performing simple updates, such as adding a fresh coat of paint to the common areas or sprucing up the landscaping with fresh flowers. You can, however, forego any extensive or time-consuming remodeling projects. This will only add to your timeline for selling, and most buyers would want to complete any remodeling to their own tastes anyway.
Neglecting to stage your home
Staging is an integral part of the listing process, often providing an excellent return on investment for sellers. Staging involves more than just decluttering and depersonalizing a home. It also involves the thoughtful placement of furniture and decor to show how a particular space may be used and create a neutral, appealing space. Hiring a professional to stage your home is an important step that you should not overlook, especially in a competitive real estate market.
Hiring an inexperienced real estate professional
Another costly mistake for home sellers is hiring the wrong real estate professional to represent them. You want someone on your side who is trustworthy, competent, experienced, and in tune with the local market trends. When searching for a Back Bay real estate agent to team up with, watch out for these red flags:
Lacking knowledge
The real estate agent you hire should be well-versed in their knowledge of the area. They should demonstrate a deep understanding of the community and the various amenities it has to offer. Buyers will want to know about opportunities for dining, shopping, outdoor recreation, and community events. They may also be seeking information about walkability, transportation, and the local school system. A knowledgeable agent can speak to these details to support your home sale and market your home to serious buyers.
Lacking market awareness
An experienced real estate agent should also be able to speak to the current conditions of the real estate market. They should understand the market as a whole, as well as the current trends affecting the Boston real estate market in particular. Before listing your property, your agent will provide an expert analysis of local housing trends and where they may be headed in the future. You want to be able to anticipate your timeline, sales price, and any concessions buyers may be expecting to see.
Pricing your home too high
Your real estate agent will use their in-depth knowledge of the market and a comparative market analysis (CMA) to come up with a competitive yet accurate listing price. You should not necessarily list your home at the highest price possible, which is a mistake many home sellers initially make, only leading to a price reduction down the line. Listing at the highest price, rather than the best price, may turn off potential buyers and leave your home sitting on the market much longer.
Missing a professional marketing campaign
Do not ignore the importance of a professional marketing campaign when selling your luxury home. Your real estate agent should outline their approach, including professional photography, a social media campaign, and a variety of high-quality print materials to get your property seen and sold. In addition, your realtor should speak to their experience in reaching a vast pool of potential buyers through their own connections and global approach to your sale. Ask them to show you their portfolio, including recent sales and testimonials from previous clients.
If you are ready to sell your luxury Back Bay home, reach out to a realtor who will exceed all your expectations. Scarlett Tamburro is a highly skilled luxury sales agent with a decade of experience in the Boston area. Her experience matters, as she is the third generation in a line of real estate agents passionate about Boston and everything the area has to offer. When you are ready to list your property, contact Scarlett to get started toward your goals.
If you are ready to sell your luxury Back Bay home, reach out to a realtor who will exceed all your expectations. Scarlett Tamburro is a highly skilled luxury sales agent with a decade of experience in the Boston area. Her experience matters, as she is the third generation in a line of real estate agents passionate about Boston and everything the area has to offer. When you are ready to list your property, contact Scarlett to get started toward your goals.
*Header photo courtesy of Shutterstock
