Ginger R., Home Seller in Massachusetts

What is the time frame to sell a high end house? (over $2MM).

Asked by Ginger R., Massachusetts Mon Oct 29, 2007

I have been told by realtors that it generally takes a year. How many showings on average per month? Thank you.

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A year if you are really lucky. Once you cross the $500K, then $1million marks, selling gets harder. I strongly reccommend you get an agency that specializes in high end properties, a Sotheby's or equivalent in your area. You really need to instantly get the word out within a database of qualified active lookers.

An incentive beyond the standard commission is offer a bonus to broker if house sells in a specific timeframe.

The best showings are those on the web. The open houses will not be nearly as effective as a video of the home on the internet. One can even take pictures of the house, put them on your website as a video, with background music. Have your agent look at toufee.com to get an example
Web Reference: http://www.iansellsnola.com
0 votes Thank Flag Link Tue Oct 30, 2007
It all depends upon the market that you are selling in and how you price your home relative to the competition. I suggest that you contact several agents in your town/city that are experienced in the $2M+ price range and request that they each prepare a market analysis and provide you with a marketing plan.
You should ask yourself when you would like to sell. For example, if you are relocating for work and need to move within 30-60 days and you employer is not subsidizing you move, you may price your home more aggressively than if you are looking to stay local and buy a new home. Good luck.
0 votes Thank Flag Link Mon Nov 5, 2007
It depends on the location in MA. On the Cape,Islands and Boston area it could be within 6 months or less if priced right and is offering amenities that are appropriate for the location.i.e beachfront, large lot.etc.
In areas where there are few if any homes priced above 2ml it can be on the market for years. Horse properties or farms take the longest. Early homes also can be difficult to sell.Showings will also be very sparse in that price range.It will take agressive and possibly international exposure to find the right buyer.
0 votes Thank Flag Link Sat Nov 3, 2007
That all depends if you have your property priced right. Now is not the time to test the market with a high inventory on properties. You need to price agressively and slightly BELOW the market price and make it upon the other end.
On Cape Cod we sell in the multi millions very quickly when the price is of value and priced to market.
I'll be happy to schedule a free no obligation market ananlysis or you can input your own property's criteria on my website to find out for yourself. http://www.JeanSOLDMyHouse.com.
Call me at my office to discuss 508=888-6540- x 35
0 votes Thank Flag Link Fri Nov 2, 2007
Ginger,
You need a local agent to answer this question for you. Ian is from New Orleans and Perry from Austin. The information they give is pertinent to their areas. I'm from NJ. Right now, my market is dying for something good to come on the market in the $2M range. I have 3 buyers looking to purchase in that price range, but there is nothing worthy of the price on the market right now. The 1.5-2M is the hottest price range in my area. We recently had a listing come on at 5.4 that had a bidding war and sold in 2 weeks.
Listen to what your Realtor has to tell you. He/She knows the market in your area.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Tue Oct 30, 2007
typically 1 month for every $100,000 unless there is something super special to the house. On average, I expect 1-2 showings for every $1 mil. A good way to measure it is to ask a realtor the number of houses that have sold in that range. If 12 houses sold, then 1 per month may be the right showing...

On another note, during this slump, only properties below $800K are felling the pinch in sales here in Austin. At least you don't have to deal with -28%+ in sales activity with your price range.
0 votes Thank Flag Link Mon Oct 29, 2007
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