05/12/2022
🥳 $5,240,000 GROSS VOLUME SOLD/UNDER CONTRACT IN LAST 30 DAYS 🥳
We haven’t quite caught our breath yet from the last month of listings! We even sold our own home! Huge congratulations to our buyers and sellers! This Boston market is once again crazy, and while it may seem so easy to sell + so hard to buy, here’s a few lessons we’ve gleaned from the last month of buying + selling in case you’re interested:
1) First lesson in real estate school is that Buyers + Sellers set the market, NEVER agents. So no matter what the “top agent” in your market tells you your house will get, or what you must pay to get the house, they may be wrong. Trust your gut + follow your peace. In our case, we would have left $200,000 on the table!
2) Innovation and creativity are not limited to the arts. In today’s real estate market, if you want to beat the competition, it’s vital to be represented by agents who understand the art of creative negotation. Money is not the only brush you have to paint with; flexibility goes far. Sale contingencies are still being accepted when agents understand how to paint the picture.
3) Sometimes the deciding factor in multiple offers is the buyers’ agent’s hustle, promptness, graciousness, and reputation in the industry.
4) Monoplies are never good for consumers including in the real estate market. Keep this in mind when you use the same agent everyone else in your market uses. Competition will only benefit you.
5) If an agent suggests doing an off-market deal right now to save you $$ and the hassle of going on market, THINK AGAIN. Going on market will bring you the most return in most cases. And if you do have your agent act as a dual agency, check the fee you are agreeing to pay. Again, competition will only benefit you.
6) Real estate attorneys are a necessary part of any real estate transaction, but they should not in any way, shape or form renegotiate the terms of an accepted offer. A power hungry attorney can give buyers cold feet faster than any inspection report. Good agents know how to manage all parties all along the way. Your agents should have a well-established network of inspectors, lenders and attorneys who work in harmony to get deals closed.