The Boston luxury condo sales forecast in 2018 does not indicate it will stop favoring sellers, at least not during the Fall season of this year. What this means for prospective buyers is that they must pay closer attention to the Multiple Listing Service (MLS) if they want to score a great deal on Boston high rise condos in Seaport District, downtown Boston or other neighborhoods in Boston
There was a time when Boston luxury condo sellers believed they could list their properties as “For Sale by Owner,” thus bypassing the brokers. Even in a seller’s market, the local real estate agent stands as the best marketing tool for Boston high rise condo owners. For buyers, this local broker can also be a place where they find great deals if they know how to search for them on an agents website. Here are three recommendations for using the real estate websites for maximum advantage.
1. Work with Real Estate Agents
The MLS information displayed on the websites of real estate agencies is enabled by plugins that do not show all the information available about the listings. Just like some stock brokerages offer Level Three quotes to traders who are either very active or willing to pay extra fees, full MLS info is mostly available to licensed agents. Buyers who work with Ford Realty can receive fresh listings based on their needs and goals.
2. Be Quick When You See Fair Market Sales
When sellers list their Boston condos as fair market deals, it usually means they are aware their properties are not in a condition to attract competing bids. Flippers tend to actively look for fair market sale situations, which means speed is of the essence when these listings appear.
3. Watch for Properties That Come Back on the Market
A listing that is pulled from the market before getting to the closing table may later return as ACTV, BOM. These are MLS codes that indicate the listing is once again active, back on the market, and with a price change, usually at a lower price.