Boston downtown real estate may not be the most affordable housing market in the country, but a seasoned real estate agent can help you find reasonably priced listings in the downtown districts. On the other hand, If you’re looking put up a Charles River Park condo for sale in downtown Boston, an experienced agent will know how to create a bidding war situation whereby the buyer with the deepest pockets wants to get to the closing table as soon as possible. When dealing with inexperienced agents, there’s always a risk of buyers not finding what they want and sellers not getting the most from their Boston downtown real estate. Here are four situations that may arise when your agent lacks experience or don’t specialize in niche market segments such as condo units.
Going through every purchase contract with a fine-toothed comb is something seasoned Boston downtown real estate agents take pride in doing, even if they have to stay up late at night or spend part of their weekends doing so. A missed provision or even an error can affect the bottom line of a Beacon Hill real estate transaction. For example, a buyer may agree to a listed price as long as the seller contributes up to 4 percent of the proceeds toward closing costs. If such a provision is misunderstood and ultimately included in the contract, the seller could end up with thousands less than expected.
Lacking Resources or Connections
Boston downtown real estate transactions can be halted by several roadblocks, which is something seasoned agents know and are also prepared to deal with. Let’s say you’re applying for mortgage financing after signing a contract but the bank refuses to continue with the loan process until an old mechanic’s lien is cleared. Experienced agents who have previously dealt with these matters may have contacts and know law firms that can clear the lien. Other agents may just hope the issue goes away on its own.
Not Being Fully Invested
Boston real estate agents who mostly rent Beacon Hill real estate or are fresh out of real estate school are more likely to play the odds, meaning they’ll take on as many listings as possible because at least one of them is bound to close someday. Experienced agents will only take on listings they believe have a good chance of closing, and they’ll put their own money to work by paying for special marketing.
Misreading the Market
Prospective real estate investors will never work with inexperienced agents because they risk misinterpreting market signals. If you’re viewing a Boston condos for sale that’s next to an old building that needs to be renovated, your agent should be able to conduct research and give you a good estimate as to when the project will be completed. Otherwise, you may not be able to make a strategic decision as to when you should acquire and list the property for a flip transaction.
Whether you’re looking to sell or buy a Boston downtown real estate in one of the downtown districts, you need to work with experts broker. Please feel free to contact us at 617-595-3712.
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- For more info call Janet Lamb or John Ford at 617-595-3712