"As a Boston condo for sale broker for over 25 years, I think private listing networks (PLN's) is one biggest shift in the Boston condo for sale market. Why? I feel they ultimately harm sellers, buyers and the real estate market in general by hindering price discovery by limiting exposure. Private listings enable large brokerages to prioritize their own profits over the client's best interest. Think about it. How does the client benefit by limiting market exposure? Hiding the listing somewhere inside their website."
"For Sellers: Seller's risk significant "seller's remorse" because they will never know what a live, dynamic market would have offered. Zillow research supports this, indicating sellers using off-MLS listings collectively lost over $1 billion in 2023 and 2024. For Buyers: Private listings contribute to the national inventory crunch by hoarding listings within a single brokerage, making it harder for Boston condo buyers to see all available homes and creating an inefficient market for finding a downtown Boston condo for sale."
"Private Boston condo for sale listings also creates a conflict between a real estate agent's fiduciary duty to their client and the brokerage's financial gain. Fiduciary Duty: Agents are obligated to do what is right for their clients, which means ensuring maximum market exposure. Marketing a property only internally is a disservice to the seller. Price Discovery: Price discovery is essential for a fair market, as it allows all potential buyers to consider a property in real time."
Private listing networks (PLNs) restrict market exposure for Boston condos and impede accurate price discovery. Sellers using PLNs often miss competing offers that reveal a property's highest market value, increasing the risk of seller's remorse. Zillow research indicates sellers using off-MLS listings lost over $1 billion in 2023 and 2024. Buyers face reduced inventory and greater difficulty locating downtown Boston condos when listings are hoarded within a single brokerage. PLNs create conflicts between brokerage profit motives and agents' fiduciary duties by encouraging internal marketing over full-market exposure. Hidden listings produce artificial markets and less transparent, inefficient pricing.
Read at Boston Condos For Sale Ford Realty
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