Category Archives: In the Press

In It to Win It: Land Your Dream Home by Avoiding These 7 Mistakes on Your Offer

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You’ve seen every house on the market and you’ve finally found the spot you can’t wait to call home. In fact, you’ve mentally decorated it and planned your new life, down to the barbecues and block parties you’ll have with your awesome new neighbors. Sweet!

Slow down there, dear buyer. As you know, you still have one giant hurdle to overcome: You’ve got to make the offer that wins the house. And in a highly competitive housing market, that can be easier said than done. Don’t blow your chances with any of these common home offer mistakes.

  1. Dragging your feet

If you love a property, the worst thing you can do is wait to make an offer. Of course, you’re allowed to have some feelings of uncertainty—after all, this is likely the biggest financial decision of your life. But the longer you vacillate, the greater the chances you’ll set yourself up for failure.

“Time kills deals,” says Andrew Sandholm of BOND New York Properties, in New York City. “Dragging your feet means you could wind up paying more in a bidding war situation or missing out on the property all together.”

Not only should you be emotionally ready to pounce, but be logistically ready as well. That means pulling together all of your paperwork—bank statements, pre-approval letter, and any documents supporting proof of funds—while you’re house hunting.

“Get everything ready so we can act fast when we find a home you love,” Sandholm says.

  1. Offering your max pre-approved amount

Today’s sellers are often besieged by multiple suitors, and the successful buyer will be one who’s prepared for a bidding war. The best way to arm yourself for battle is to make sure you’ve got a strong financial arsenal. That means getting pre-approved (do this now, if you haven’t already) to show a seller you’re financially prepared to buy a home—their home.

But when you make an offer, beware of submitting a price that exactly matches the amount you were pre-approved for, says Chuck Silverston, principal at Unlimited Sotheby’s International Realty in Brookline, MA.

“Many buyers come in with a pre-approval for the exact offer price, but when you’re competing against other offers, including cash offers, you want to show financial strength,” he says. “An exact pre-approval could make a listing agent nervous because not only does the buyer not have any wiggle room to negotiate, but they might no longer qualify if interest rates rise.”

“In this market I often advise buyers to look at homes under their max loan amount,” echoes Denise Supplee, a Realtor® with Long and Foster Real Estate in Doylestown, PA. “When you have to bid against multiple offers, they will need some room to go up, and if they are at their maximum amount, that may not happen.”

  1. Using an obscure lender

Also consider using a well-known local mortgage lender or bank, suggests Realtor Megan Tolland, with Realty Executives Boston, who often sees online pre-approvals from out-of-state lenders or unknown online entities.

“Agents, and therefore sellers, are generally more comfortable with a local lender they know,” she says.

  1. Lowballing

Trust your agent and bid accordingly—even if it means offering a little more than you think you could get away with. If you lowball the seller in the hope that it’ll spark a negotiation, it could backfire—especially in a seller’s market.

“A lowball offer that isn’t backed up with math or comparable sales data is disrespectful and could turn off the seller and possibly mean you will miss out on the property completely,” Sandholm says.

  1. Waiving the inspection contingency

“I don’t care whether it’s new construction or even your mom’s house you’re buying from her—get it inspected,” says Joshua Jarvis of Jarvis Team Realty in Duluth, GA.

An inspection is the only way to uncover potential flaws that could cost major cash to fix. And if you waive the inspection contingency in your offer, you stand to lose your earnest money if you back out.

  1. Letting outsiders sway your offer

When you’re buying a home, you probably want a second opinion. And probably a third, fourth, and maybe even 10th. We totally get it. But beware of letting these people—who mean well but haven’t seen the many, many other homes you’ve seen—influence your offer.

“The ‘adviser’ does what they think is best and tries to protect the buyer and usually slams the home,” Jarvis says. “Unfortunately, they don’t have the education in seeing the other 10 homes or understanding the market.”

If you’re going to rely on outside advice, Jarvis says, then ask that the person accompany you through as much of the process as possible.

  1. Not selling yourself

Wait, isn’t it the seller who, you know, does the selling? It might not sound quite fair, but in a seller’s market, you want to make sure you—the buyer—look as good to the seller as that picture-perfect house looks to you, Silverston says.

And it’s not just about looking good on paper. In fact, Silverston says, the offer process begins the moment the buyer steps through the door at the open house or showing.

“In today’s highly competitive environment, the listing agent is trying to determine which buyer will be the easiest to deal with,” he says.

That’s why buyers should avoid pointing out defects, asking a lot of nitpicky questions, or even insulting the owner’s taste by discussing changes they want to make.

“Basically buyers who act less than enthusiastic will see themselves at a competitive disadvantage when sellers are comparing multiple offers,” he says.

And, don’t forget to help seal the deal with a love letter—a personal touch could be enough to boost you to the top in the seller’s mind.

Interested in speaking with Chuck and his real estate team? Let us know or contact him directly on our website.

About Chuck Silverston

Chuck SilverstonChuck has been a top agent for over ten years and even earned the designation by Trendgraphix as the number one buyer’s agent in Brookline. Chuck is a Principal at Unlimited Sotheby’s International Realty. He has owned the Paris Creperie Cafe for over 15 years and has lived in Brookline for 20 years. Chuck has one daughter, Lilli, that attends Brookline High School. He served as co-chair of the Pierce School PTO from 2010-2012 and currently serves on the Board of the Brookline Education Foundation.

See the original article on realtor.com.

Apple News Partnership Extended Through June 2016

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We’re excited to announce that our extremely successful Apple News partnership has been extended to run through June of this year!

Apple News is the new application baked into every Apple device running iOS 9 or newer, allowing us to potentially reach over 800 million iPhones, iPads, and iPod Touches.

Our ad units have a 5% Share-of-Voice on the For You section of the app + a 25% Share-of-Voice in the app’s Business Channel.

You can also add the Sotheby’s International Realty channel within Apple News, which has content automatically fed via our Extraordinary Living blog. It can be found by searching for Sotheby’s International Realty within the News app, or clicking here on your iOS device.

December in Times Square

The Sotheby’s International Realty® brand is collaborating with the New York Stock Exchange to showcase a video banner on the ABC Super Sign on 44th and Broadway in Times Square, New York City.

During the entire month of December, Sotheby’s International Realty® will be a part of these flashing displays and bright lights of Times Square. The special video promotion is set to run throughout the entire month of December, and will be displayed 15 times per day. On average, Times Square sees 1.6 million visitors PER DAY. This new and exciting advertising experience allows visitors to immerse themselves in sir.com, and catch a glimpse of the incredible services, properties, tools and strength of this great brand.

See the banner come to life by watching the video below:

Press Release: Sotheby's International Realty Brand Wins "Best in Category" For Franchisee Satisfaction

Unlimited_Horz Blue with edge

 

 

 

FOR IMMEDIATE RELEASE

SOTHEBY’S INTERNATIONAL REALTY BRAND WINS ‘BEST IN CATEGORY’ IN
FRANCHISEE SATISFACTION FOR EIGHTH CONSECUTIVE YEAR IN FRANCHISE
BUSINESS REVIEW RANKING

Brookline, Mass. (Feb. 5, 2015) – Unlimited Sotheby’s International Realty, a luxury real estate firm based in Brookline and Jamaica Plain, MA, today announced the Sotheby’s International Realty® brand won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the eighth year in a row.

The Best in Category award measures franchisee satisfaction with their franchisors and is part of the 10th annual Franchisee Satisfaction Awards presented by Franchise Business Review. In addition to its real estate ranking, the Sotheby’s International Realty brand also came in first in the overall top 50 and first among the Top 50 “Systems with 250 or more units,” which is a ranking of all franchise systems across all categories with more than 250 locations.

“We are so proud to not only receive this distinction for the eighth year in a row but to also move from third to first in the systems with 250 or more units ranking, and from fourth to first in the overall top 50 ranking,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “This award essentially is our report card from our network, and we are so pleased that they hold us in such high regard within the ranking system. We continually strive to improve our service to our franchisees and we are grateful for this honor.”

Franchise Business Review surveyed more than 28,000 franchisees from more than 350 leading systems for the annual Franchisee Satisfaction Awards. Franchises were evaluated in five areas: training and support, franchise system, franchisor/franchisee relations, financial opportunity and overall satisfaction. Additionally, demographic and lifestyle questions gave a 360-degree view of the franchise ownership experience. Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. For a complete list of this year’s award winners, go to www.FBR50.com.

“The Sotheby’s International Realty brand has been ranked number one in Real Estate for eight years running,” said Franchise Business Review president Michelle Rowan. “The brand’s continuous efforts to find ways to strengthen the brand and relationship with its franchise partners won it the honor of being ranked number one overall on our list of 200 brands with the strongest validation from their franchisees this year.”

The Sotheby’s International Realty network currently has over 16,400 sales associates located in approximately 730 offices in 56 countries and territories worldwide. Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and their clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

“This brand offers our firm the tools, resources and support we need to reach a global audience of consumers and provide our clients with the best possible service,” said Jon Ufland, Managing Broker. “We are proud to be part of this network of extraordinary professionals, and to represent this fine brand in the Greater Boston market.”

Unlimited Sotheby’s International Realty, which has offices in Brookline and Jamaica Plain, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.

As a Sotheby’s International Realty affiliate, the firm also has the unique ability to refer its real estate clientele to the auction house for jewelry, art, unique furniture and collectible appraisal services. Property listings from Unlimited Sotheby’s International Realty also are marketed on the sothebysrealty.com global website, as well as on the firm’s local website, unlimitedsir.com.

About Sotheby’s International Realty Affiliates LLC
The Sotheby’s International Realty network currently has over 16,400 sales associates located in approximately 730 offices in 56 countries and territories worldwide. Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. sothebysrealty.com

About Unlimited Sotheby’s International Realty
Unlimited Sotheby’s International Realty is an independently owned and operated franchisee of Sotheby’s International Realty Affiliates LLC, specializing in full-service real estate. Our sales and leasing specialists have the experience and knowledge to drive results, along with the passion and dedication to provide unparalleled service. For more information, visit us at unlimitedsir.com. Like us at facebook.com/unlimitedsir, follow us at twitter.com/unlimited_sir, read our blog at unlimitedsir.com/blog and find job opportunities at linkedin.com.

CONTACT
Chelsea Hewitt, Marketing Assistant
Unlimited Sotheby’s International Realty
1290A Beacon Street | Brookline, MA 02446
o 617.264.7900 | f 617.232.9984
marketing@unlimitedsir.com
unlimitedsir.com

Press Release for Download

Press Release: New Wealth-X and Global Luxury Residential Real Estate Report

Unlimited_Horz Blue with edge

 

 

 

FOR IMMEDIATE RELEASE

Global Ultra Wealthy Population Hold Nearly US$3 Trillion In Owner-Occupied Residential Real Estate Assets
The United States is the most popular country for foreign ultra wealthy individuals looking to buy secondary residences, followed by the United Kingdom and Switzerland

BROOKLINE, Mass. (Feb. 5, 2015) – Unlimited Sotheby’s International Realty in Brookline and Jamaica Plain, MA today announced that according to a new report by Wealth-X and the Sotheby’s International Realty® brand, nearly US$3 trillion of the world’s private wealth is held in owner-occupied residential properties, a value greater than the GDP of India.

There are 211,275 ultra high net worth (UHNW) individuals – defined as those with US$30 million and above in net assets – in the world and 79% of them own two or more residences.

Some of the main hubs for luxury residential real estate are New York City, London and Hong Kong, but niche locations – such as Lugano, the Hamptons outside New York City, and rural areas around the world – are gaining in popularity.

The Wealth-X and Sotheby’s International Realty Global Luxury Residential Real Estate Report forecasts that the ongoing shift in the wealth creation cycle from the West to the East, and the growing significance of intergenerational wealth transfers will have significant consequences on the luxury residential real estate market – with a noted emphasis on new developments and a change in investment grade cities.

Below are other key findings from the inaugural report:

  • The value of UHNW-owned residential real estate assets increased by 8% globally in 2014.
  •  On average, UHNW individuals own 2.7 owner-occupied residences.
  • As of 2014, over 7% of the world’s UHNW population made their wealth through real estate, up from 5% in 2013.
  • Ultra affluent women value real estate assets more than their male counterparts, holding 16% of the net worth in such assets, on average, compared to less than 10% for men.
  • Luxury residential real estate is an asset class typically favored by UHNW individuals with inherited wealth: these individuals hold 17% of their net worth in such assets, compared to just under 9% for self-made UHNW individuals.
  • UHNW individuals with net worth between US$30 million and US$50 million typically keep their primary residences for over 15 years and their secondary residences for over 10 years.
  • Billionaires change one of their four properties, on average, once every three years.
  • Secondary residences are typically 45% more valuable than primary residences; twice the square footage and have 10 acres of land.
  • At 83%, Monaco has the highest density of foreign-owned UHNW residences.
  • Over 6% of the world’s UHNW population have relocated their primary residence to a different country from which they were born – these individuals often keep a secondary residence in their home countries, and India is the leading country in this respect.

The Wealth-X and Sotheby’s International Realty Global Luxury Residential Real Estate Report 2015, which looks at trends in the UHNW population’s appetite for luxury residential real estate across the world, identifies specific attitudes, behaviors and locations that matter to this industry and this wealth segment.

Wealth-X President David Friedman commented: “Wealth-X is pleased to partner with the Sotheby’s International Realty brand for this inaugural report, which underscores Wealth-X’s commitment to conducting groundbreaking research on the world’s ultra high net worth (UHNW) population. Expert commentary from the Sotheby’s International Realty team complements Wealth-X’s global intelligence on the world’s UHNW population, producing a report that demonstrates a true collaboration between the world’s leading UHNW intelligence provider and the global leader in luxury residential real estate. Luxury residential property is a core component to the anatomy of the ultra affluent at the intersection of their lifestyle and investment.”

“We are proud to partner with Wealth-X to provide valuable insights into today’s luxury real estate market and the buying behaviors of the ultra high net worth consumer,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “We believe that a solid investment in real estate is one of the single best factors for building long-term wealth, and that many of today’s ultra high net worth consumers would agree.”

Download the report by clicking here.

“This research offers an inside look into the global luxury real estate market,” said Jon Ufland, Managing Broker. “At Unlimited Sotheby’s International Realty we understand the Greater Boston market. This study adds to that knowledge by providing valuable details on many far-reaching markets, which helps inform our clients’ decisions on where to invest on a global basis.”

Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the network’s brokers and clients benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

About Wealth-X
Wealth-X is the world’s leading ultra high net worth (UHNW) intelligence and prospecting firm with the largest collection of curated research on UHNW individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 13 offices on five continents. (www.wealthx.com)

About Sotheby’s International Realty Affiliates LLC
The Sotheby’s International Realty network currently has over 16,400 sales associates located in approximately 730 offices in 56 countries and territories worldwide. Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. (www.sothebysrealty.com)

About Unlimited Sotheby’s International Realty
Unlimited Sotheby’s International Realty is an independently owned and operated franchisee of Sotheby’s International Realty Affiliates LLC, specializing in full-service real estate. Our sales and leasing specialists have the experience and knowledge to drive results, along with the passion and dedication to provide unparalleled service. For more information, visit us at unlimitedsir.com. Like us at facebook.com/unlimitedsir, follow us at twitter.com/unlimited_sir, read our blog at unlimitedsir.com/blog and find job opportunities at linkedin.com.

CONTACT
Chelsea Hewitt, Marketing Assistant
Unlimited Sotheby’s International Realty
1290A Beacon Street | Brookline, MA 02446
o 617.264.7900 | f 617.232.9984
marketing@unlimitedsir.com
unlimitedsir.com

In The Press: Jamaica Plain News

JP News

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here or the image above to be redirected to the article about our affiliation news.

In The Press: Jamaica Plain Gazette Features Affiliation News

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Click here or the image above to be redirected to the article about our affiliation news.

In the Press: Boston Homes features New Construction at 73-75 Wachusett Street

Three stunning NEW CONSTRUCTION town homes

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at 73-75 Wachusett Street in Jamaica Plain. Open houses will be held 7/12 & 7/13, 12-3pm.

Read more about this property in Wicked Local’s Boston Homes Section

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In the Press: 83 Elm Street in New England Home Magazine

83 Elm Street shines again in a New England Home Magazine feature.

Click here to read more.

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In the Press: BostonMagazine.com featured 83 Elm Street

BostonMagazine.com featured 83 Elm Street, a historic home listed by two of our agents, Dave Hannon and Mary Wallace Hannon.

Click Here to Read the Article about this

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Historic Home!

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