I recently received a question from a potential Beacon Hill condo buyer.

How do I know for sure there are other bidders?

Do I get some sort of proof that other offers have come in?

I am a soon-to-be buyer. It seems to me, if the agent lies and can get folks to raise their offer, his or her commission will increase. Isn’t this a conflict of interest?

The simple answer is that you won’t get proof from a listing Boston real estate broker that there are other offers on the table. Moreover, when it comes to a conflict of interest, the listing Beacon Hill broker is there to serve the interests of the seller and get the seller the highest offer for the Beacon Hill. Understanding that the listing agent owes his or her fiduciary to the seller is key to the whole transaction.

With that said, Boston Real estate agents are licensed in the state of Massachusetts and are governed by Boston Real Estate Board  have to abide by its rules and of the state in which they work. Those rules and laws would prohibit the Boston real estate agent from lying, but the agent has the ability to market the property to get the seller the best price possible.

In other words, the listing agent is allowed to “shop” your offer, as it is known in the field. How does that happen? You make an offer, and then the agent calls the other brokers who have been looking at the Beacon Hill condo to alert them that a “good offer” has come in and they should come forward with their best offer. And, yes, this sort of behavior might actually start a bidding war.

 Click here: Beacon Hill condo sales data September 2019

Highly sought-after luxury listings, a constantly changing market, tough competition—successfully buying and selling in the Beacon Hill condo market means staying up-to-date on all of the Boston real estate trends.

Beacon Hill condos for sale


Sorry we are experiencing system issues. Please try again.

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

Comments

comments

Call Now