The latest from Lili about Boston Real Estate.

Selecting the Right Boston Luxury Real Estate Agent

March 24, 2012 |

You should find someone you generally like and can trust, and someone with the key connections that will benefit you. There are many facets to finding an agent. Buyers/sellers new to the Boston luxury real estate market often begin looking at ads or searching online to interview multiple agents, until they connect with someone who is helpful, experienced, and knowledgeable. Other times, referrals and recommendations come from friends or colleagues. In some cases, brokers are chosen based solely on visibility or fame, regardless of their customer service. Individual attention is of utmost importance that many buyers and sellers fail to take  into serious consideration.

During a Boston luxury home transaction, the buyer/seller may find that their agent has not served them well and they part ways. This happens all the time - either the chemistry is not right, or the agent is incompetent – both completely understandable reasons to end the partnership. But here are two rules to live by in working with a Boston luxury real estate agent –

Rule #1: If you’re selling a home and you don’t have a specific agent in mind, do your homework. Pick an agent who has a proven track record and knowledge of the marketplace. A good broker should express a realistic valuation, taking into account the current marketplace. Sometimes this information is what the buyer or seller expects and sometimes it is not, but a good agent’s job is to point out the facts as opposed to merely telling clients what they want to hear. By doing so, a good agent develops a trustworthy, continuing relationship with her/his clients, hence the basis of their success.

Listen to the advice of an experienced agent and don’t be fooled by the highest price that some agents quote you to sweeten the pot. The comparable sales and data are public knowledge and buyers look at the data when making offers. Therefore, overpricing or under-pricing is the key element in proper marketing. Once you build that trusted relationship, here comes Rule #2...

Rule #2: Do not keep switching agents. Loyalty in every profession is a good trait - it builds respect, confidence and trust. Once you have an established working relationship, your real estate agent will provide individual attention and micro manage your interests for you. Sometimes your property does not sell and you get impatient. If you do your homework and pick a competent agent from the start, this would not happen. For the most part, all reputable brokers advertise and market on the same level. If your property is not selling, it’s probably priced too aggressively and not competitively. When you have a great experience with your agent and they have done a great job in prior transactions, think twice before changing gear to another agent just because she/he is “sujet du jour,” or a friend or colleague recommends it. Stay loyal to your competent agent.

A well connected and experienced Boston luxury real estate agent will have key contacts and insider networks to show you properties that are not officially on the market. Beware of agents who simply tell you what you want to hear. I can write volumes about how to pick the right agent for you – contact me to learn more.


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