iStock_000018578806Medium_twgThe spring real estate market is quickly approaching, and real estate professionals throughout many parts of Massachusetts are already beginning to experience a flurry of activity.

Low interest rates, an improving economy, rising rents and a more positive economic outlook are certainly boosting the local housing market. Home sales are on the rise, and prices in many Greater Boston communities are creeping up.

The National Association of Realtors December Realtor Confidence Outlook indicates the market is steadily moving towards a seller’s market. One factor that is helping to lead the 2013 market in that direction is the tight housing inventory in many communities, including towns throughout Eastern Massachusetts.

Due to low inventory in almost every town, buyers must act quickly to secure a home they really want. This spring, real estate professionals will need to focus on crafting strategies to consistently reach out to prospective seller clients and highlight what differentiates them from the competition.

Get Out The Paintbrushes

In addition, listing agents must take the appropriate steps to be properly prepared once the spring market kicks into full gear. Reviewing pricing strategy and clearly communicating changes in market trends with their clients is always important, but it will be particularly essential this spring. Agents should work closely with their seller clients to ensure that listing prices truly reflect current market conditions. It can’t be said enough: homes that are priced competitively will sell, while overpriced listing will linger on the market for months.

Frequent communication with sellers will also be critical, as today’s clients are hungry for updates on marketing strategy, showings and feedback from potential buyers who have toured their homes.

Even though the listing inventory is limited, agents still need to work with their sellers early on to make sure their properties are in prime condition. Buyers notice even simple improvements like fresh coats of paint, trimmed bushes and newly planted flowers. Such minor upgrades can go a long way in forming a good first impression with a prospective buyer. A thorough cleaning of the kitchen, bathrooms and windows is an easy and simple way to make a significant difference in the way a home shows. Emptying closets, removing clutter and storing belongings can also be very beneficial.

More than ever, agents must utilize all of the tools that are available to them. At Coldwell Banker Residential Brokerage, for example, agents have access to an online lead generation system that is easy to navigate and enables them to generate follow-up action reminders. Sales associates at Coldwell Banker Residential Brokerage can also take advantage of a special reporting system that tracks Internet traffic to listings across our vast e-marketing platform. This allows agents to keep their clients informed about the exposure their home is receiving throughout the listing period on our company website, – the most user-friendly and visited website in the industry – as well as partner sites.

This spring we will see robust activity, and our real estate professionals are prepared and eager to work with customers and clients. 

Pat Villani is president of Coldwell Banker Residential Brokerage New England.


Agents To Sellers: Price Right To Sell Homes

by Banker & Tradesman time to read: 2 min