Boston Real Estate Agent Commissions and Fees
Boston Real estate agents charge a commission to help sell your Boston condo. This real estate post will explain the process by which real estate agents get paid a commission, and what you can do to reduce that commission — and thus your costs — if you are thinking about selling your Boston property.
First, Boston real estate commissions are paid by the seller. When a seller decides to sell their Boston condo, the seller signs a “listing agreement” with a real estate broker (commonly known as a real estate agent or Realtor). The agreement gives the seller’s agent the right to list the condominium for sale on the local Multiple Listing Service (MLS) or any other legal forms of real estate marketing. In this agreement it shows the total commission to be paid by the seller, including how much of the commission to be shared if another agent is involved in the sale.If another agent is involved they are known as the “buyer’s agent”.
Commonly, but certainly not always, the total commission is between 5% or 6% to be split equally between the listing agent and the selling agent. Accordingly, when the sale of the condominium closes, the seller’s agent obtains their commission and splits the commission of the sale price to the buyer’s agent.
It’s an old adage in real estate that everything is negotiable. This holds true for Boston real estate broker’s commission.
There are real estate brokers out there who will list a property for sale on the MLS for much less than the common 5 or 6% commission to the listing agent. One such type of broker is the “flat fee” 0r “flat fee listing broker.” These brokers do virtually nothing, but list your property on MLS. The advantage is it only costs a few hundred dollars and will get a lot of exposure. The disadvantage is you the seller will need to do the showings.
Another way to save money is on real estate commission rebates. Commission rebates are growing increasingly popular. A large, essentially national brokerage has, since its inception, rebated a portion of the buyer’s agent’s commission back to the buyer. We don’t want to promote a competitor here, so we’ll only say that the name of this large brokerage begins with an “R”.
Lastly, our agency will list your Boston luxury condominium for sale for only a 3% broker fee from now until April 1st.
If you like more information on this please call me at 617-720-5454 or email me at [email protected].
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Ford Realty – Boston Luxury Real Estate Professional – Call Today! (617) 720-5454
We go beyond the fundamentals of effective pricing and marketing and help you make decisions to get top dollar for the sale of your home or top value for your purchase. We focus on Boston luxury condos for sale and offer a variety of comprehensive luxury real estate services in the following Boston neighborhoods, but not limited to:
We provide our clients with exceptional customer service and are there to assist you throughout the transaction. Please call, send us an email or fill out the online contact form, and let us know how we can serve your Boston Luxury real estate needs!
John Ford, Broker
[email protected]
Janet Lamb, Vice President
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Ford Realty
137 Charles Street
Boston, MA 02114
(617) 720-5454 (9:00 – 5:00 EST)
(617) 595-3712 (On Call Broker After Hours)
Updated October 29, 2019