With the exception of Boston, North Andover currently has the highest number of flat fee MLS condo listings in the state of Massachusetts. Based on the recent encouraging sales reports for condo owners here, it’s easy to see why entry only MLS listings are gaining popularity and are the standard used by for sale by owners (FSBO) in North Andover.
Flat Fee MLS North Andover Condo Sales
The good news for northeast Massachusetts’s condo owners this month is pending condo sales were up roughly 43.5 percent compared to this time last year. What makes these numbers even more impressive is they are comparable with May and June, traditionally the months with the most home sale activity. While pending sales don’t necessarily mean a home will close, it does show that the Massachusetts real estate market is enjoying some of the best sales it has seen in years. This year, 114 condo units have currently sold in North Andover. And for those owners who are considering selling, using a flat fee MLS listing will guarantee them thousands more dollars in their pocket at the closing table.
North Andover For Sale by Owner (FSBO)
With today’s uncertain economic climate, this recent housing report shows the real estate market is, for the moment, slowly improving and condo owners are feeling more comfortable selling a property themselves with a for sale by owner (FSBO) approach than ever before, with the maximum exposure of a North Andover MLS flat fee listing. Without paying the high fees or commissions associated with listing your North Andover condo for sale using a traditional real estate brokerage, a For Sale By Owner MLS listing provides profits that go right back into the seller’s hands.
When signing up with Entry Only New England to list a condo for sale using a flat fee entry only MLS listing, a seller’s home is added to the official MLS, which is used by real estate agents and brokers from all across Massachusetts to access available properties. Because 90 percent of buyers use the Internet when looking for a home to buy, getting in the MLS is the most important step in getting your North Andover condo to sell. Once on the MLS, the property will also be included in websites such as Realtor.com, Remax.com and other websites that display MLS listings via a large syndication of information across the web.
Flat fee real estate is especially attractive to those who want to control their home sale, but realize that without a listing on the MLS, their condo will have little to no exposure. Quite simply, if a home is not on the MLS, there are little to no buyers that even know the property is for sale since the property is not listed where buyers and real estate agents look for homes. For those Massachusetts For Sale by Owners who simply try to sell on their own without listing on the MLS, a condo will likely sit on the market for many months. And let’s think about that for a moment: When a property sits without any showings and certainly no offers, several negative consequences can occur as buyers will conclude, whether correctly or incorrectly:
- The condo is overpriced: Whether your North Andover condo is overpriced or not, buyers will assume that if it is still on the market after several months, it’s not selling because the price is too high. Finally, to draw interest into your property, you may need to slash the price, when really, all your property was lacking was the appropriate exposure.
- The condition of the condo is unappealing: Again, a property that has a “For Sale” sign in the front yard for several months will tell buyers and agents that the home must need repairs or the physical condition is poor if it has not attracted a buyer. Again, your condo may be model home perfect, yet if a buyer is not seeing pictures of your home on the MLS, they have no reason to make an appointment or schedule a showing to view your home.
- Difficult to show: The more a home is shown, the quicker it sells. And the quicker the sale, chances are, the higher the price. Showings will happen if your North Andover condo is properly marketed and profiled and the MLS is the first step in exposing your property to your target audience.
Probably the most difficult repercussion of a condo sitting on the market, of course is the expense. Sellers are still making mortgage, utility and insurance payments as well as paying Homeowner’s Association (HOA) Fees the months a property doesn’t sell.
North Andover Flat Fee MLS Listing Service
In North Andover, there are currently six condos that are listed for sale using our MLS flat fee listing model. While the majority of condos in North Andover are still sold via traditional methods, the popularity of Massachusetts For Sale by Owner MLS is growing for the simple reason that most homeowners can sell a property themselves as long as they have the proper MLS exposure.
So as a North Andover property owner, who is considering putting their condo on the market, what would you do with the thousands of extra dollars if you listed and sold your home with Entry Only Massachusetts flat fee MLS?