Selecting a Boston luxury condo broker for buying or selling. Here are my thoughts:
When you decide that you are ready to sell your Boston luxury condominium, one of your biggest decisions should be who you will hire to sell your Boston condo. You do have many options of real estate agents to hire so how do you know how to select the right one? From the very start, you would be very smart to eliminate agents whose major portion of their business are homes out in the suburbs. Why eliminate these agents? It’s simple they just do not know the Boston luxury condo market well enough. They do not know the intricacies of selling luxury condominiums and they really do not understand the pricing of most units. I cannot tell you how many times I have heard these “Suburban” agents tell me “Well unit # at address xyz Sold for $1,500 a square foot so that is why we are priced here!” What they just don’t understand is the difference in pricing throughout the building. Was it on the 3rd floor or the 10th floor? Was it looking towards Boston harbor or city views? Is there potential for a building to go up in front of the unit? Is daylight blocked by another building? These are just some of the many issues that contribute to pricing a unit. You cannot just say that because one unit sold for $1,500 a sq. ft, that another one will.
This lack of knowledge often leads to units being under-priced, or more often, over-priced. The big problem when agents overprice a luxury condo is that it becomes stale on the market, goes through several price reductions and then in the end, sells for less than what it should have sold for if it were priced right.
To me, the biggest reason not to hire a “Suburban” agent in my opinion, is the lack of consistent marketing everyday to Boston luxury condo buyer’s. As a luxury condo specialist, my marketing is directed 24/7 toward condominium buyers. I am consistently filling my pipeline with potential buyers of condominiums. A suburban agent is in Lexington one day, Winchester the next marketing to people looking to buy a single-family home, not a Boston luxury condo. I will say this, if you are looking for an agent to sell your $2,000,000 home in Lexington, I should probably not be your first choice. I am not a specialist in that area. I am a specialist with condos. You should strongly consider this when selling your condo.
Thinking of selecting a Boston luxury condo real estate broker to buy or sell, please call me at 617-595-3712 or via email [email protected]