In a normal downtown Boston condo market, it’s good to have an experienced guide coaching you through the process of buying or selling a Boston Back Bay home or Beacon Hill condo. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side – an expert is essential.
Today’s housing market is full of extremes. Mortgage rates hovering near record-lows are driving high buyer demand. On the other hand, an absence of sellers is creating record-low housing inventory. This imbalance in supply and demand is leading to a skyrocketing rate of bidding wars and more Boston Seaport condos selling over their asking price. This is driving home price appreciation and gains in home equity. These market conditions aren’t just extreme – they can be overwhelming. Having a trusted expert to coach you through the process of buying and selling a Boston high-rise condo gives you clarity, confidence, and success through each step.
- Contracts – We help with the disclosures and contracts necessary in today’s heavily regulated environment.
- Experience – We’re well-versed in real estate and experienced with the entire sales process, including how it’s changed over the past year.
- Negotiations – We act as a buffer in negotiations with all parties throughout the entire transaction while advocating for your best interests.
- Education – We simply and effectively explain today’s market conditions and decipher what they mean for your individual goals.
- Pricing – We help you understand today’s real estate values when setting the price of your home or making an offer to purchase one.
A downtown Boston real estate agent can be your essential guide through this unprecedented market, but truth be told, not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success. Finding the right agent should be your top priority when you’re ready to buy or sell a home.
It starts with trust. You’ll have to be able to trust the advice your agent is going to give you, so make sure you’re connected to a true professional. Check Google Reviews of past clients. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in this unique market. A true professional expert can, however, give you the best possible advice based on the information and situation at hand, helping you make the necessary adjustments and best decisions along the way. The right agent – the professional – will help you plan the steps to take for success, advocate for you throughout the process, and coach you on the essential knowledge you need to make confident decisions toward your goals. That’s exactly what you want and deserve.
Boston Real Estate for Sale and the Bottom Line
It’s crucial right now to work with a real estate expert who understands how the market is changing and what that means for home buyers and sellers. If you’re planning to make a move this year, let’s connect so you have someone who can answer your questions, give you the best advice, and guide you along the way.
When you enter into an agreement with a Boston midtown condo agent, the agent becomes a fiduciary. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. Real estate fiduciary duties, in simple terms, define how an agent should work on the behalf of a client.
- Reasonable care
This simply means that an agent should always be working for your best interests, not anyone else’s or their own. This also means avoiding any conflicts of interest. An agent’s duty of loyalty prohibits him or her from accepting employment from any person whose interests compete with or are adverse to, yours as the buyer or seller. An example would be for an agent to purchase a Boston midtown condo for sale listed with his or her company then immediately sell it for a profit.
It’s imperative for an agent to keep a client’s information confidential. The information that should be kept confidential would include anything that might impact your bargaining position. An example would be disclosing to a buyer that a seller, represented by that agent, needs to sell quickly. This, however, does not include an agent disclosing material facts concerning the condition of a property. To do so would constitute misrepresentation and would impose liability on both the agent and the seller.
An agent is obligated to disclose to his principal all relevant and material information that the agent knows and that pertains to the scope of the agency. Material facts are those that if known by the seller or buyer may have caused them to change their minds.
Boston Real Estate Broker Obedience
Your agent must obey your instructions. These instructions must of course be legal and in accordance with your contract.
Boston Real Estate Broker Accounting
Your agent must account for all documents and funds related to the Beacon Hill condo sales transaction. There must be reporting of all the pertinent documents and financials.
Boston Real Estate Broker Reasonable Care
The phrase is open to interpretation; most often being defined in a courtroom. The NAR describes it as a “duty to use his superior skill and knowledge while pursuing his principal’s affairs. This duty includes an obligation to affirmatively discover facts relating to his principal’s affairs that a reasonable and prudent real estate broker would be expected to investigate.” It’s akin to the professionalism expected by patients of doctors or clients of attorneys.
Do agents ever fail in their fiduciary duty? Unfortunately, yes. Not living up to these duties can cause lots of problems for all parties. As an agent, it’s important to hold oneself accountable and focus on the best interests of clients.
Many breaches of fiduciary duty can occur around full disclosure. And it’s not limited to the property itself. A client shared a story about her first home purchase and the breach that occurred. The situation revolved around the state DOT planning to expand a road near the townhome the individual purchased. The DOT did not have imminent plans to begin the road work, but this part was disclosed. What wasn’t disclosed was that many of the units within the neighborhood had already been purchased by the DOT. This meant that when she was ready to sell years later, the property value had decreased. The listing was less desirable. Had she known the DOT already owned many of the units, she would have decided not to purchase.