Is the Boston Real Estate MLS Unraveling
Boston Condos for Sale
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Is the Boston Real Estate MLS Unraveling
The Boston MLS is independently owned and not affiliated with the outcome of the national MLS lawsuit. However, there is a separate lawsuit pending
With that said, should our local MLS follow suit with the NAR owned MLS, here’s what I think could happen:
Boston condos will keep selling. Buyers and sellers keep moving, and Boston condo broker will keep helping their clients.
But, Boston real estate brokerages are tired of being pushed around, and the here’s what could happen;
1. The Clear Cooperation Policy is going to go away.
Boston real estate brokerage will fight back, all the big brokerages could sue MLSPIN to rescind the policy that requires an agent to input their new listing into the MLS within one business day after they promote it publicly. The policy was a continuance of the NAR paranoia about protecting smaller brokerages, but that ignores giving the seller a choice on how they want to market their property.
2. Boston Condo Brokerages could start leaving the local MLS.
Why be a member of a club when there are other options. The commercial brokerages get along just fine without an MLS, as does the residential brokerage business in NYC.
Zillow provides the same benefit, without the headaches. Let’s cut a deal with them to upload our listings there and we won’t need the MLS.
What about cooperating with agents in other brokerages?
The NAR Settlement has effectively cut off that benefit already. The main benefit of the MLS was publishing and guaranteeing the buyer-agent fees, but that cold be going away in the future. Every buyer-agent has to call around to find out what the “seller concessions” might be, if any. Sounds just like the commercial brokers, doesn’t it? And they have never had an MLS.
Is defecting from the MLS what is best for buyers and sellers?
Possibly, you will still have Zillow.
Zillow will become the defacto MLS, just like they do it in New York City!
Updated: Boston Real Estate Blog 2024
Click Here to view: Google Ford Realty Inc Reviews
Ford Realty Beacon Hill – Condo for Sale Office
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Is the Boston Real Estate MLS Unraveling
The basic premise that drives the Boston real estate MLS is that agents ‘cooperate’ with each other, which is code for ‘I’ll share my listings with you, and you share your listings with me’. We have a written agreement, and subscribe to the strict code of ethics, of course.
But these days, there just aren’t enough sales to go around.
These has always been both an undercurrent of pocket listings and off-market deals also known as “Coming Soon”. But when the president of one of the largest brokerages gets quoted in the L.A. Times like this, it makes you think the whole system is unraveling.
Especially with the promise of vetting the properties, what does he mean? Just the hot buys? The easy sales to keep in-house for the new agents to sell? (upon whom the house makes max $$)
Downtown Boston Real Estate and the Bottom Line
The bottom line Boston condo sellers suffer from less exposure, and Boston condo buyers have fewer choices. But hey, at least the Boston real-estate-selling business will survive, in some form.
