real-estate-story-boston1

After reading this story, I get it. Why people hate real estate agents?

From the Hartford Courant, the theme of the story is this: list your condo below asking price, start a bidding war, if you (the seller) are offered asking price you want, tell the buyer, NO! Here’s how it works:

When David Chzaszcz put his family’s four-bedroom Tolland house up for sale in September, he took his real estate agent’s advice and listed it at $449,000, even though he was hoping it would sell for a higher price.

It goes on to say:

Chzaszcz’s agent, Rob Giuffria of Prudential Premier Homes, tells clients that pricing slightly below market value will generate the kind of traffic that creates a flurry of interest among buyers in the crucial early days that the house is on the market … Most sellers are under the mistaken belief that if someone offers them list price, they have to sell their home,” Giuffria says. “You can just say, ‘I don’t accept your offer”

Err … is this legal or ethical? Well, perhaps not ethical, but it is legal.

If it seems like a risky strategy, it’s not, according to several real estate agents who have used it recently. What people forget, agents say, is that a seller isn’t required to accept an offer, even if it’s for the full asking price

What are your thoughts?

File Under: If it sounds too good to be true … well you know the rest.

PS – I’m happy to report, I don’t know of any Boston broker using the above practice. If you do, let me know.

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.

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Back Bay

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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

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