The National Association of Realtors is attempting to regulate a change in the Coming Soon environment  as one of the selections on MLS– see above. The way it is written, however, will just take us back to the days when off-market deals were done behind closed doors because they are permitting the ‘office exclusives’.

Coming Soons were the industry’s public admission that Boston real estate brokers do off-market deals, and to give you (the buyer) a chance to get your piece of them. But now the N.A.R. wants brokerages to pick a lane.

The choices:

1. Comply with the new rule, and change the name of your off-market deals to ‘office exclusives’, where no one can see them.

2. Don’t do anything, and pretend that off-market deals aren’t happening at your shop.

3. Declare publicly that off-market deals are a vital part of your business, and keep marketing them as Coming Soons to the public, in spite of any changes in the N.A.R. rules. What are they going to do?

Numbers 1 & 2 above are the less-transparent choices, and the easier way to go for the Boston real estate brokers who justify their off-market deals by saying the seller got what they wanted.

Number 3 is the fully-transparent admission of the truth – agents like to pad their wallets with off-market deals, and don’t see anything wrong with that.

Bottom Line

 Boston real estate off-market deals aren’t going away, regardless of the rules.  The existing rules already state that all listings are to be inputted onto the MLS within a certain time period, but it gets ignored and there is no policing or penalties.

It’s better for everyone involved – agents, buyers, and especially sellers – to put every listing onto the MLS to ensure full exposure so everyone can compete. Buyers would feel they had an equal chance to buy, sellers get top dollar, and all agents get a fair chance to earn a paycheck.

But N.A.R. and the industry’s upper management looks the other way.  It will take a class-action lawsuit or new regulations from the federal government to bring real change.

Here is one bloggers thoughts:

https://notorious-rob.com/2019/09/on-nars-mls-policy-statement-8-0-a-step-forward-into-confusion/

Boston Luxury Condos & Downtown Boston Real Estate for Sale

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

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