Buying a family member's house is one way to avoid a bidding war and keep a home within the family. If the family member is elderly and needs assistance, the person buying their home may be able to move in and provide help. Buying a family member's house in Massachusetts involves several steps to ensure the process is legal, transparent, and mutually beneficial. Here's a detailed guide:
Why do listing agents hold off on showings until the open house?
Why do listing agents hold off on showings until the open house?
It's Wednesday afternoon and you see a home pop up on your listing alert. It's perfect and you happen to have the day off! You reach out to your agent and ask if you can schedule a showing for that day. Your agent replies that the listing agent is holding off on showings until the open house that Saturday.
Why can't you go see a home the moment it's listed? Here are some reasons why:
Creating a Sense of Urgency and Excitement
By scheduling an open house as the first opportunity for prospective buyers to view the property, listing agents can create a sense of urgency and excitement. When multiple potential buyers attend an open house simultaneously, it can generate competitive interest, leading to more offers and potentially higher bids. This competitive atmosphere can often result in a quicker sale at a better price for the seller.
Maximizing Exposure
Holding showings until the open house ensures that the property receives maximum exposure. Marketing efforts, such as online listings, social media posts, and email campaigns, can build anticipation and draw a larger crowd to the open house. This concentrated marketing effort helps attract serious buyers who are ready to make a decision.
Efficient Use of Time
Coordinating multiple individual showings can be time-consuming and disruptive for both the seller and the agent. By focusing on an open house event, agents can showcase the property to many interested parties at once, making the process more efficient and less intrusive for the seller. It also allows agents to answer questions and provide information to a larger audience in one setting.
Strategic Timing
Listing agents often strategically time open houses to coincide with key market activities, such as weekends or during periods of high buyer activity. This timing can enhance visibility and attract buyers who are actively searching for properties. It also allows the agent to present the home in its best light, ensuring it is clean, staged, and ready to impress.
Facilitating Offers
An open house can serve as a catalyst for receiving multiple offers, sometimes even on the same day. When buyers know that others are interested, they may be more motivated to submit their best offer quickly. This competitive environment can benefit the seller by potentially driving up the final sale price.
In summary, holding showings until the open house is a strategic move designed to create urgency, maximize exposure, use time efficiently, and facilitate offers. It’s a tactic that benefits both sellers and buyers, ensuring that the property gets the attention it deserves in the market.
Considerations for Homebuyers Interested in Keeping Chickens
I’ve teamed up with Island Custom Coops to offer some advice on what to look for in a property when house hunting if you are considering getting chickens! Island Custom Coops is based out of Franklin, MA and is run by Glauci and Sean Doherty. They design and install custom coops in the Massachusetts area. Their coops are functional as well as stylish, the perfect foray into homesteading life!
Spookiest parts of a real estate transaction & how I help you overcome them
Buying and selling a home can conjure up some hair-raising situations. But just like anything, facing those fears head-on is key to keeping them in their place and you moving forward. With that in mind, here are a few spooky scenarios and how I keep my clients calm, cool, and hardly breaking a sweat.
Things to Consider When Buying a Historic House
Historic homes hold a unique charm and a rich sense of history that can be incredibly appealing to homeowners. Whether you're a history enthusiast or simply drawn to the character and craftsmanship of older homes, purchasing a historic house in Massachusetts can be a rewarding experience. However, it's essential to approach this endeavor with careful consideration, as historic homes come with their own set of challenges and responsibilities.
The Death of the Starter Home?
How to Side Hustle Your Way to Home Ownership
How Living With Your Parents Could Help You Buy a House
Why Do People Buy When Interest Rates are High?
Are You Throwing Away Money by Renting?
Are you ‘wasting money’ by renting? You may have heard this from well-intentioned family and friends who like to remind you that you're paying your landlord's rent or money spent on rent is money you'll never get back.
While this is technically true, renting does make sense for a lot of people and there is nothing wrong with it. Here are some benefits to renting:
