Staying Ahead of the Market

Above, Eileen Doherty

Eileen Doherty
Sales Associate
Lamacchia Realty, Inc.
Woburn, Massachusetts 

Region served: Middlesex County
Years in real estate: 40
Favorite part of your job: Making the deal and seeing my seller happy.
Motto/work philosophy that you live by: Treat others the way you want to be treated.

What is the most significant trend affecting your business right now? 

Not enough supply. I think that’s affecting everybody’s business actually. We have a fair amount of construction, but the price has gone up significantly on it. Plus, builders can only physically build so much in a year. It’s sad because when something gets listed, first-time buyers aren’t getting their offers accepted—unless they’ve got a lot of money. 

What is your top strategy for closing a transaction?

You have to be on top of everything and anticipate what could go wrong. I get sellers who are big on “what ifs,” and they get so paranoid and nervous. I tell them that we can come up with a million different scenarios, but that we shouldn’t go looking for trouble. Instead, we’ll head everything off before we get to it. Things can turn on you in an instant in real estate. If you’re not ready for it, or you don’t have the experience to handle it, that’s when you get caught. You have to not be afraid to ask for help if you need it.

When it comes to dealing with a picky buyer, what is your best tip? 

With picky buyers, you have to remind them that it may not be their dream home. You have to show them a few things—a variety of properties with different features and amenities—and explain that in the end, they may not get exactly what they were looking for. I tell buyers they need a home they can be comfortable in, that they can live in. It might not be their dream home right now, but there’s no such thing as a perfect house.

How do you see your market evolving throughout 2024?

While the market is pretty good right now, it all depends on supply and inventory. I spoke with a seller recently about getting their house ready to go on the market, and they weren’t sure if they should wait until the fall. I told them that we don’t know what the market is going to be like then, but that it’s pretty good right now, so it depends on whether you’re a gambler. Other than that, what I’m seeing so far this year is more price reductions on the higher end of the market. Those prices are becoming a little bit more realistic, but anything under a million is still flying. 

Having been recognized as the No. 1 agent within the company, and a real estate powerhouse, what advice do you have for other women aspiring to advance their real estate careers?

I think sometimes you just have to find a niche in this business and be good at what you do. Sometimes that can be hard to do until you get your feet wet, but once you do, you have to dig your heels in.

Tell us what it means to be part of Lamacchia Realty.

It’s the best decision I ever made. When people ask me about being a top agent at an office and making a move to a brand-new agency, I tell them the hardest part was that I didn’t do it 10 years earlier. The support is second to none. Real estate didn’t used to be as competitive and cut-throat, but at Lamacchia, it’s like the old days when everyone was happy to help each other.

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