eXp realty will NOT co-broke Boston condo sales commissions

Boston Condos for Sale and Apartments for Rent

eXp realty will NOT co-broke Boston condo sales commissions

eXp Realty has in recent days taken the notable step of updating its much-discussed listing agreement with language stating the company “does not share commissions with a buyer’s broker” — language that has prompted a flurry of debate online.

The brokerage published its new listing agreement internally on Friday. In a conversation on Wednesday with Holly Mabery — senior vice president of brokerage operations at eXp — she said that the document was updated because “we wanted to make sure our agents are best protected.” She added that “we’re not going to do broker-to-broker compensation.”

“We’re not going to do pre-determined compensation,” she continued, adding that instead, eXp listing agents will provide their clients with “a menu of options.”

The document reflects this approach, stating on the first page that the “broker (eXp) does not share commissions with a buyer’s broker.” However, that language does not mean buyers’ brokers can’t collect compensation from sellers. The document goes on to state that buyers may request concessions from sellers, and those concessions could be used to pay for brokers among other things. Homesellers using eXp agents are free to offer compensation as they see fit.