The National Association of Realtors (NAR) will ban off-market listings. This refers to Boston real estate properties (i.e. Boston condos) marketed outside of the local Multiple Listing Service (MLS) and promoted within large brokerage networks (i.e. Coldwell Banker, Century 21 and Compass etc.).
NAR is working to ensure that boutique real estate brokerage firms and all Boston condo buyers will have access to all available listings, and that sellers’ homes receive maximum exposure. A listing agent is now required to put a property in the MLS within 24 hours of any public marketing including web site promotion, For Sale signs, email newsletters, etc. In the past, brokerage firms were allowed them up to 5 days to promote a Boston condo for sale listing prior to putting it on MLS.
This will help Boston condo buyers by having access to more inventory to meet the current demand, so having access to all available listings can make a big difference in a Boston condo buyer’s search. You’ll no longer have to jump from one major website to another to view exclusive listings.
NAR and the local Realtor associations will be enforcing the off-market ban starting May 1, 2020. So there should be far less of a mystery when you spot a “Coming Soon” For Sale sign outside a house. All local MLS members will have access to all listings, including those in the “Coming Soon” category— so Coldwell Banker and Compass the rules have changed. It’s now an even playing field
Your best bet as a Boston condo buyer will be to connect with a broker or agent that has positive Google Reviews. Not all large Boston real estate companies have the best agents. Once again, check Google Reviews.