Jennifer Mello is a partner, managing broker and Realtor at The Mello Group, which is based in Seekonk, serving Rhode Island and southeastern Massachusetts. Mello was recently designated a pricing strategy adviser as part of the National Association of Realtors.
In the real estate industry since 2005, Mello received the Platinum Circle of Excellence Award for annual sales exceeding $13 million in 2012 and 2013. She is also a member of the Greater Providence Board of Realtors and the East Bay Chamber of Commerce.
PBN: How big is your firm The Mello Group, and what's it been like running this business after establishing it with your husband, Gary, in 2011?
MELLO: What began as a husband-and-wife real estate team with RE/MAX evolved into The Mello Group in 2011 – an established, boutique-style brokerage with a reputation for excellence in Rhode Island and southeastern Massachusetts. Known for our unwavering commitment to high-quality service, we’ve grown to a team of about 25 dedicated agents serving the region.
Each year, we proudly assist around 325 buyers and sellers, consistently achieving over $100 million in sales volume. To date, we’ve closed over $1 billion in total volume and more than 2,300 transactions. With nearly 400 five-star reviews on Zillow and counting, our reputation reflects our dedication to the clients and communities we serve.
PBN: What are some of the biggest challenges for you and your firm right now, as you try to help your clients buy and sell homes?
MELLO: Inventory remains tight as well, with fewer homes on the market than usual. This lack of supply can make it challenging for buyers to find properties that meet their needs. For sellers, while this can create a competitive environment, it’s also crucial to set the right price and prepare their homes to stand out.
Additionally, today’s market requires a more dynamic approach to marketing. We’re constantly innovating – using drone photography, virtual tours and a large social media presence to reach and engage potential buyers. Our team is dedicated to staying ahead of these challenges, providing our clients with the guidance, data and support they need to make informed decisions, even in a more complex market.
PBN: What would be your best tips to prospective home sellers in this market in the Rhode Island and southeastern Massachusetts area?
MELLO: For prospective home sellers in Rhode Island and southeastern Massachusetts, my top tips focus on understanding the market dynamics and positioning your property effectively.
- Price strategically: In today’s market, accurate pricing is everything. Overpricing can lead to extended days on market and potential price reductions, while pricing competitively often attracts more buyers, increasing the chance for multiple offers and higher final sale prices.
- Present your home at its best: Make sure your home is showing at its full potential. This means staging effectively, decluttering and completing any small repairs. First impressions are vital, and well-presented homes capture more buyer attention.
- Work with an experienced Realtor: Choose an agent with local market knowledge who can guide you on timing, pricing and marketing strategies specific to this area. A skilled agent will know how to navigate current trends and negotiate on your behalf to get the best result.
- Understand market timing: Market conditions vary throughout the year, and a knowledgeable Realtor will help you determine the ideal time to list. Typically, spring and early summer are popular times, but in today’s market, demand can be steady year-round with the right approach.
PBN: Why is it so important that a home seller finds a reputable real estate agent to list their property?
MELLO: A reputable real estate agent brings essential expertise and market knowledge to help sellers achieve the best possible outcome. Selling a home involves much more than listing it online; it requires an agent who understands local market trends, pricing strategies and effective marketing techniques to attract serious buyers.
An experienced agent will provide honest, data-driven advice on pricing, offer insights into preparing and staging the home, and ensure that the property is presented professionally. This often includes high-quality photos, drone photography to showcase the property from unique angles and compelling video tours that elevate the listing. In today’s market, a strong social media presence is also key, allowing agents to reach a broader audience quickly and effectively.
Beyond the listing, a skilled agent manages negotiations, handles paperwork and oversees the entire process from listing to closing, which can be complex and time-consuming. In short, a reputable real estate agent serves as an advocate, ensuring that the sale is smooth, timely and financially rewarding for the seller.
PBN: You were designated pricing strategy adviser with the National Association of Realtors. What can you tell us about that role and what you've learned from it?
MELLO: A Realtor pricing strategy adviser is a real estate professional who has specialized training in creating accurate property pricing strategies. This designation, offered by the National Association of Realtors, ensures that the Realtor is equipped with advanced skills to assess property values more accurately.
In a fluctuating 2024 market, having a PSA is particularly valuable for several reasons.
Accurate market analysis: The PSA designation signifies that the Realtor can perform a comparative market analysis more precisely, which is essential when prices are fluctuating. This helps clients avoid overpricing or underpricing a property.
- Navigating market conditions: With high interest rates and economic uncertainties, buyers and sellers need guidance on how pricing affects time on the market, buyer interest and overall investment potential. A PSA can provide tailored advice on market trends, helping clients make informed decisions.
- Competitive edge for sellers: For sellers, a pricing strategy adviser can create pricing strategies that attract buyers in a competitive environment, potentially leading to quicker sales and higher offers. This is crucial in 2024 when the market can be competitive or slow, depending on the region.
- Confidence for buyers: Buyers benefit by ensuring they aren’t overpaying. A PSA helps them understand a property’s fair market value, preventing them from committing to inflated prices.
Overall, a Realtor pricing strategy adviser helps clients navigate an unpredictable market with confidence, ensuring they’re buying or selling at the right price point for the current conditions.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @LaRockObama.
