I’ve been in the real estate market for over 20 years, I’ve witness the ebbs and flows of the Boston condo for sale market.

Many believe that the recent changes with MLS, will bring down real estate commissions. Others however, have a different perspective, which may not be far fetched in a hot Boston condo for sale market.

This is a real possibility now:

Bill Colson, who is preparing to sell his Maryland home next year and purchase a retirement home outside Blue Ridge, Georgia, believes the changes will create more costs.

Colson, who is 57 years old and retired from the Navy, said a Realtor in Maryland advised him to offer the standard 6% commission split between his agent and a buyer’s agent when selling his home. But in Georgia, Colson said another Realtor told him to be prepared to pay his own agent out of pocket to make a potential offer more competitive.

It means Colson would be responsible for paying out commissions for both transactions, which would have been unthinkable to many homebuyers and sellers before the changes.

“If you want to stand out, you’re going to have to pay,” Colson said.
“In the end, we may end up paying something like 9%,” he said. “Instead of making things better, it just got a lot worse.”

https://www.cnn.com/2024/08/19/business/real-estate-commission-changes-wellness/index.html

Peace be with you

Updated: Boston Real Estate Blog 2024