When Boston condo buyers find a condo that they like, one of the first questions they ask me is “Why are the sellers moving?” This is a personal question and not all sellers are willing to say, “Because it is personal.”
As a listing agent we are obligated to protect the seller’s interests and if they request that we not disclose their reason for moving, we don’t disclose it. Job relocations, divorces, loss of a job all are personal, and a buyer does not have a right to know that information. A buyer has a right to know anything and everything about a property they are considering buying.
But if a seller wants to keep his private stuff private, does that in some way effect the value of the Boston condo? I don’t think so.
Today, I hope to be taking a listing. In doing so, I’ll explain to the seller that the potential buyers will ask why they are moving and what are they comfortable with me disclosing. Sometimes there is no problem and a seller will say downsizing, relocating, etc. but sometimes things are a whole lot more complicated, like a divorce or perhaps a job change where the seller’s current employer hasn’t been told yet.
So I’m wondering, how important is it to you, as a downtown Boston real estate buyer, if I don’t disclose why the owner is selling? Does it have any impact on the market value of the condo?