The Commonwealth Blog

Monday, June 2, 2014

Selling Your Boston Home in a Crowded Market

Selling your home is stressful in and of itself. Fixing any lingering maintenance issues, readying for an open house, and pricing your home competitively take time and patience. After all that work, what happens when you look outside and see that your neighbor is also selling their house?

Don't panic. Being one of a few houses in a neighborhood or even a block for sale does not necessarily raise red flags or damage your home's value on the market. In fact, you can turn it into a strength when you’re selling your Boston home. Check out our tips below to learn how this can be done.

Take Advantage of Additional Traffic

The #1 advantage to living in a neighborhood with multiple homes for sale, including your own, is the likelihood that more potential buyers will be passing your way. Make sure your home is optimized for this additional foot traffic by printing out more flyers and staying on top of your curb appeal. Your house number should be large enough to see on a drive by, and your house should be brightly and cleanly lit at night, so that it gets a passerby’s attention any time of day. Be sure when you’re not the only one selling your Boston home on the block to be complimentary to the neighborhood and your fellow sellers – making a good impression and showing that you have a warm community will help assuage potential buyers’ fears.

Hold More Open Houses

It can be a bit tricky to arrange, but a joint open house can be of mutual benefit to you and the other sellers on your block. Distributing each other’s fliers and making sure that the neighborhood is not too cluttered with for sale signs can improve the chances of sale for any of the homes on the block. While a bit of an inconvenience being ready for potential buyers to pop-in for impromptu showings can also help. If a buyer was in the neighborhood to look at a neighbor’s house but wants to see yours, too, it’s important to be ready to show them around or at least arrange a more extensive, longer showing.

Price Fairly

Although setting the right price is always worth thinking about, and can fluctuate the longer the home stays on the market, setting the right price when your competition is next door takes a little extra effort. You can certainly ask for the same amount, but it’s important to make your case for that amount strongly. Be sure to enumerate the upgrades to your home or added features that make your home well worth the money, and a better deal than your neighbor’s.

 

Do you have any other tips for selling your Boston home when your neighbors are doing the same? Let us know in the comments! 


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