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Even in the strong seller’s markets of 2014 and 2015, we have been able to give advice that has led our clients to buying successfully. They bought a house or condo in eastern Massachusetts without throwing away their rights or offering without knowing the fair market value.

All our bank appraisals came in at the sale price or higher than what our clients paid. Although our clients had to make multiple offers before getting one accepted, in the end, they got the best property they could at the best price they could.

2014 overview:

• Total amount under asking negotiated: -$148,300
• 47 percent of our clients bought property below asking price.
• No clients waived their home inspections in order to buy a house.
• No clients waived mortgage contingency unless they had cash resources to close without a mortgage.
• No clients waived the appraisal as part of their mortgage contingency unless they had cash resources to close without a mortgage.
• Towns served: Acton, Cambridge, Somerville, Arlington, Belmont, Boston (South End, Brighton), Medford, Melrose, Natick, Waltham, Westwood, Woburn, and Quincy.

2015 overview:

• Total amount under asking negotiated: -$151,585
• One-third of our clients bought at or below original asking price.
• Total amount negotiated after inspections: -$26,000
• Number of properties we identified for our clients before they were listed: 18
• No clients waived their home inspections in order to buy a house.
• No clients waived mortgage contingency unless they had cash resources to close without a mortgage.
• No clients waived the appraisal as part of their mortgage contingency unless they had cash resources to close without a mortgage.
• Towns served: Acton, Cambridge, Somerville, Arlington, Belmont, Boston (South End, Brighton), Medford, Melrose, Natick, Waltham, Westwood, Woburn, and Quincy.

Asking prices are created by the seller and/or his or her agents to get the seller their best price. In the current market, many asking prices are set artificially low, so that buyers will begin to bid against one another. It is well-known that people pay more when they get into competition. This kind of irrational spending is what is fueling the rising prices this year.

Avoiding overbidding

Our clients benefited from having a market study available before making offers. A market study looks at properties that have sold and those under agreement to determine what the market should bear for this particular property. This helps determine the top dollar that is rational to pay for it. That figure — balanced with the buyer’s unique needs – informs our buyer’s offers. With a clear top dollar figure, our clients are better able to resist impulse buying and overpaying for their house or condo.

Benefiting from seller’s mistakes

Our buyers benefited from our skills at evaluating properties that did not sell quickly. Some of those did not sell because the seller made a mistake when marketing the property. (Common mistakes include overpricing, not staging, not allowing enough time to let people see the house, or otherwise turning people off.) When sellers make mistakes marketing their property, the house may later sell for less than it could have. We have succeeded in finding these for our clients.

What is a bargain and what is a money pit?

Some of the properties that didn’t sell quickly have costly problems. Although inspectors know even more about houses than we do, our agents find many costly problems on routine house-hunting visits. Armed with this information, our buyers know the difference between a bargain and a money-pit before making an offer and paying for a home inspection.