One of our latest flat fee MLS entry only listings is at the 1850 Lofts building in Boston’s South End – 90 Wareham St Unit 307 Boston, MA 02118. Unit 307 is a two bedroom one bathroom 964 square foot loft-style condo listed for $559,000. The owner of the unit decided to use a flat fee MLS listing from Entry Only New England to list on the MLS without a Realtor.
We’d suggest that you setup a showing to see this Boston loft, but, it went under agreement in just 4 days. The seller is positioned to save approximately $14,000 in Realtor commission by leveraging our flat fee MLS service in Boston. Not bad!
How to FSBO South End Boston Condos
Some of the difficulties that FSBOs face when trying to sell by owner without a Realtor include getting the right FSBO price, and selling within a planned length of time. Our How to FSBO Massachusetts Guide gets FSBOs pointed in the right direction and thinking about and preparing for key activities during the home selling process, especially as a FSBO selling without a listing broker. The guide does a great job of setting expectations about the FSBO process, and outlines key milestones of selling by owner.
Some of the Boston FSBO statistics you’ll discover below will help put your mind at ease about selling by owner – listing on the MLS without a Realtor is both possible, and can be very profitable.
South End Boston Flat Fee MLS
In the past 6 months, there have been 200 condominiums that have sold in the South End neighborhood of Boston. The average price per square foot of these condos has been $732, and the average days on market (DOM) has been 43. Of those 200 South End condos, 3 were sold as flat fee MLS entry only listings. 3 out of 200, or approximately 1.5%, is quite typical for the number of flat fee MLS listings in the Boston market – while we saw a record number of Massachusetts flat fee MLS listings in 2013, the majority of homes are still listed in the MLS by a traditional real estate brokerage charging a full commission.
What’s interesting to compare is the average price per square foot of those 3 South End Boston entry only MLS listings vis-à-vis the larger total, overwhelmingly a set of listings that were listed and sold by a Realtor charging a full real estate agent commission. In the South End, those 3 flat fee MLS listings that sold in the last 6 months had an average price per square foot of $750, and an average days on market (DOM) of 25.
That said, over the past 6 months in the South End, flat fee MLS listings outpaced homes sold by traditional real estate brokerages charging a full listing commission – price per square foot sale prices on flat fee MLS listings in Boston’s South End were about 2.5% higher than those listed and sold by a traditional real estate agent, and the flat fee entry only MLS listings sold nearly twice as fast.