There will be some realtors who read this real estate blog post and be stunned at what they read, but if you’re a Boston condo for sale agent who refuses to talk about the other offers just because that’s the way it’s always been done, then you may want to reconsider what’s best for your Boston condo seller. Buyers are more willing to engage and pay more when the process is transparent. Give it a try!

Disclosing offer prices can be better for sellers because it creates direct competition and encourages buyers to improve their bids. However, the best approach depends on whether you want to build a “bidding war” environment or keep buyers guessing to push for their absolute maximum “blind” offer.

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Potential Benefits of Disclosing Prices

Encourages Competition: Letting buyers know the specific price to beat can push them to increase their offer or improve terms, such as waiving contingencies (e.g., inspection or appraisal).
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Efficiency: Clearly stating what is needed to be competitive can save time by filtering out buyers who cannot or will not meet the current high bid.
Boston Luxury Condos for Sale
Building Trust: In some sales environments, early transparency regarding costs or prices can build a positive, trusting tone that may lead to higher overall profits.
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Transparency: In hyper-competitive markets, a “clean and transparent” process can reduce confusion and ensure all parties know exactly what is required to win.
Boston Luxury Condos for Sale

Potential Drawbacks of Disclosing Prices

Capping the Bid: If you disclose a high offer of $500k, a buyer who might have been willing to pay $520k may only offer $505k.
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Scaring Away Buyers: Some buyers may withdraw immediately to avoid entering a bidding war or if they feel the price has exceeded their perceived value.
Boston Luxury Condos for Sale
Communication Strain: Managing and constantly updating multiple parties on changing offer details can be stressful and logistically complex.
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Strategic Options for Sellers

According to real estate experts at sites like HomeLight, you generally have three disclosure paths:

Total Confidentiality: Disclose nothing, forcing every buyer to submit their “highest and best” offer without knowing the competition.
Partial Disclosure: Inform buyers that other offers exist, but keep the specific prices and terms secret.
Full Disclosure: Openly share the best offer received to invite others to beat it.

Before deciding, check with your agent about local laws; while the National Association of Realtors (NAR) allows disclosure with seller consent, some state regulations may limit what can be shared.

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Are you currently navigating a multiple-offer situation, or are you planning your listing strategy?