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Massachusetts Real Estate

What Kind of Massachusetts Realtor Do You Want?

by Bill Gassett on March 4, 2010 · 7 comments

Real Estate is a 24/7 Business

There is a lot of talk in Real Estate circles about how Realtors should run their business in regards to returning either another agents or clients phone call.

There are of course some pretty differing opinions amongst Real Estate agents themselves on what they should be held accountable to.

There are quite a few including myself that think Real Estate is a 24/7 business. Real Estate is a service industry where the clientele relies on their agent to be ready, willing and able to help at a moments notice.

Lately, I have called a few Realtors and were not able to reach them. On their work voice mail was a message that said “I only return calls between the hours of 12-1 and 5-6 p.m.” Are you freaking kidding me!

Here is another example right on an MLS listing:

“Please note, that we are not in the office on the weekends, we will return calls, emails and faxes on Monday. Thank you.”

If I was a consumer  calling these Realtors with the possibility of using their Real Estate services my decision would be made for me very quickly.  I was frustrated hearing the message because it was just after 1 p.m and I did not want to wait until five o clock to get a return phone call.

Anyone who has been in Real Estate for a while knows that there are issues that inevitably crop up that must be dealt with right away in a  transaction. Sometimes if problems are not dealt with immediately it can be disastrous,  including the chance that the transaction does not even happen.

When consumers are surveyed asking about their experience with the Realtor they hired, is it any surprise to know that the number one complaint nationally is always a lack of communication? Consumers want to know what is going on with the sale of  their home prior to an offer, as well as during the time period it takes to get to the closing table.  There are always a myriad of things to be discussed.

Customer service in Real Estate

In an age where technology is king, a Realtor that knows how to communicate with today’s savvy consumer is in high demand. Personally, I have a Blackberry that allows me to get an immediate email. My phone is with me at all times and any of my clients can reach me when they need to. I could not imagine it any other way.

When I am hired to sell a home an exchange of all my contact information is automatic. My clients have my cell phone and email and are told they can reach whenever necessary.

One of the things I have found fascinating is the wide discrepancy in beliefs on what is appropriate regarding this subject. For example, I know quite a few Realtors that do not return phone calls after 7 p.m at night. If you leave a message after that time you are out of luck! Some are staunch believers that once they are home with their families the work day is over. This has never been my policy and I don’t think it ever will be. I just don’t roll that way.

In fact the only time I will not answer my phone is when I am being interviewed for the chance to list someones home.

I do not even bring my phone into the potential clients home. I want the clients full attention and they should have mine.

The other occasion where I  may not answer my phone is when I am showing a home. It all depends on the client I am with. Some are very open and tell me to go ahead and take the call. I know that the fact that I am readily available is very much appreciated.

How do I know? Many of the Real Estate testimonials that have been given to me mention the fact that they really appreciated the fact I always returned my calls immediately.  Don’t make the mistake of picking the wrong Realtor!

So what are your expectations? What kind of Realtor do you want?

Related Real Estate articles worth a look:

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About the author: The above Real Estate information on Do you want a 24/7 Realtor was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 24+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Franklin, Framingham, Grafton, Northbridge, Shrewsbury, Northboro, Bellingham, Uxbridge, and Douglas.

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Massachusetts Public Open Houses Are a Waste of Time For Home Sellers

by Bill Gassett on February 28, 2010 · 31 comments

Massachusetts Real Estate open house Yes… I am talking about the waste of time that thousands of Realtors continue to participate in week after week on Sundays in Massachusetts….THE PUBLIC OPEN HOUSE.

Let me rephrase that…A waste of time for the seller of the home.

This will probably come as a surprise to you but Nationally less than 1% of homes sell from a public open house!

In the majority of cases  serious buyers are looking at homes with Realtors. So who goes to open houses and why do Real Estate agents continue to do them? There are a numerous plausible reasons for both of these questions. 1st lets address who you can expect to show up.

  • Your neighbors – curiosity will be a driving force for many of the people on your street. You can also expect your nosy neighbor to be there to compare what you have in your home to theirs.
  • The “professional” Sunday open home looker – these are the folks that just like looking at homes. Homes after all are interesting…they all  have there own unique features. You can expect this person to just swing in for a quick look after seeing a Real Estate sign outside the home.
  • The Unqualified - This is one of the more common attendees of an open house. If you are selling a home for $500,000 you expect the potential buyers walking through to be qualified to spend $500,000 right? WRONG…more often than not the people walking through will be unable to spend the asking price. If there wasn’t an open house would you want your Realtor bringing people inside your home that are not qualified?
  • The “idea” person – this is someone that will walk through the open house to get “ideas” for their home. It could be any number of things such as  decorating, furniture, a granite counter color whatever. The idea person will most likely show up at the more expensive homes where there are things on a grander scale.
  • The “Robber” – although far less common than the above four, an open house is an open invitation for a potential robber to case your place prior to coming back to get what they want. There are also times where multiple parties could be in your home at the same time. It is next to impossible for a Realtor to have their eyes on everyone at all times. There could be a few parties on the 1st floor and someone else on the 2nd floor. Not good!

So why do Real Estate agents do public open house’s? There are a few simple reasons. Why do Realtors have a public open house

  • As an agent holding an open house chances are pretty strong you will meet one of the neighbors (see above). This is a great place to establish rapport for future business. Who knows, maybe a neighbor is thinking of selling their home in the near future. If the neighbor and the agent “connect” it could lead to future business in the form of another listing for the Realtor.
  • An agent could meet a legitimate buyer that can’t afford the home they are holding public (see the “unqualified” above) but may be a buyer at a lower price point.
  • Open houses give a Realtor the possibility of potential additional clients they can work with.
  • The seller insists on them! Most sellers will want an open house if they have not been educated by a good Realtor on why they are a waste of time.
  • An agent that doesn’t do much business will often “sell” this as part of their presentation to the seller during the interview process to get the listing. They tell the seller how wonderful open houses are and how much “traffic” will be coming through. What they don’t tell you is the traffic is of very low quality and that they are using your home as a place for them to capture new leads.
  • An open house is a quantifiable action that shows that the Realtor is making an effort to sell the home. There are lots of things that agents do behind the scenes to sell homes but this is the one that is physically apparent. An agent has to drive to the property set up an open house sign and man the property. A seller can physically see that the Realtor is making an effort.

Is it possible that you may get lucky and sell your home through a public open house?….Sure it is but don’t expect it. Again nationally, less than 1% of all homes are sold through a public open house.

I have been a Realtor for the last 24+ years serving all of the Metrowest Massachusetts area and towns further West. During my time in the business, I have sold two homes through a public open house. Yes you are reading that correctly just two! I have been involved in over a thousand real estate transactions during that time.

Is it any wonder that you see way more of the Sunday open house signs in a down market than you do when things are selling briskly….think about that for a moment.

When I meet with a perspective seller client I explain to them right up front about open houses and what they can expect from them. I explain that I do not personally do them, as I have other more productive things to do with my time. If a seller really wants one there will be someone in my office that will be happy to provide this service for me.

After all the agent isn’t foolish enough to believe they are going to sell my listing that day. They believe they will find a few clients to work with!

It is really silly to believe that a ready willing and able buyer is not going to schedule a showing on your property if they are really interested in seeing it.

There will be no lost opportunities if you do not hold your home open. When choosing to work with a Realtor pick one based on their credentials, past track record and their ability to bring real buyers into your home via their marketing efforts!

** It should be noted that an open house for new a new development is different than a re-sale home. Often times builders use an open house to showcase their homes and to provide an example of the type of homes they build including floor plans and construction quality.

Other Real Estate articles  worth reading:

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About the author: The above Real Estate information on Massachusetts public open houses was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 24+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Franklin, Framingham, Grafton, Northbridge, Shrewsbury, Northboro, Bellingham, Uxbridge, and Douglas.

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Functional Obsolescence in Real Estate

by Bill Gassett on February 24, 2010 · 7 comments

Functional obsolescence in a home

Functional obsolescence in Real Estate can be defined as a few different things but more often than not it pertains to a property not complying with recognized utility. In other words there are features that are not practical or desirable.

There are numerous examples of functional obsolescence but one that hits close to home was a property I recently sold that had more than a few flaws. This particular property was very large in size – 4000 plus square feet. The home, however did not have a formal dining or living room. Many of the newer homes today are built without one of these formal spaces but rarely are both missing. Strike #1

Furthermore, this house featured an enormous two story great room that took up a large portion of the home. The end result was all the bedrooms being very small for a home of this caliber. Strike #2

In what I would consider one of the strangest design flaws, the laundry room was located in one of the kids bedrooms! Can you imagine waking up little Johny to do another load of laundry? Hearing that tumbling noise and the buzzer going off would get old quick:) Strike #3.

Lastly the home and lot design were such that the front door to the home was 15 feet off of the ground level. In order to enter the house you had to either go in through a basement door or climb a large flight of stairs. Never mind the fact you had to look at an ugly deck and set of stairs in the front of your home. Strike #4.

Thinking about functional obsolescence in homesIt is rare to ever see this degree of functional obsolescence in a home. You would probably not be surprised to hear that this home ended up in foreclosure.

I ended up selling the home for the bank that foreclosed on the builder. Ironically he had asked me to list the property before it was even built and I turned him down. In fact I pleaded with this man not to build the home. I told him he would lose his shirt and he would not listen.

To give you an idea of just how much the functional obsolescence affected this property, a typical home with the size and amenities of this property would be valued at around $800,000 in the town which it was located.

It ended up selling for $530,000!! I would call that serious obsolescence.

Another type of obsolescence could be more stylish in nature such as a Tudor being built in a neighborhood that has all contemporaries or colonials. In this situation a home could be sticking out like a sore thumb.

Lastly, economic obsolescence is when there is a drop in value because of external factors surrounding the property. An example could be when a residential zoning district blends into a commercial or business zone. A home located next to a gas station, jail, or other business establishment would be considered dysfunctional.

Some other examples of functional obsolescence in homes include:

  • All bedrooms on the 2nd floor and the only bath located on the 1st floor.
  • Walking through one bedroom to get to another.
  • Walking through a dining room or living room to get to a bedroom.
  • Walking through a formal space to enter the garage.
  • No entrance to the basement from a homes interior.

Sometimes as a Realtor, explaining these things to a seller can be difficult. There are times where people can incorrectly assume you don’t like their home because you are pointing out the flaws.

Other Real Estate articles worth reading:

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About the author: The above Real Estate information on Functional obsolescence in Real Estate was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 24+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

For Massachusetts Real Estate and homes see Massachusetts Real Estate Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Franklin, Framingham, Grafton, Northbridge, Shrewsbury, Northboro, Bellingham, Uxbridge, and Douglas.

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