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Boston real estate ads

Boston real estate ads

Have you been seeing more of these types of Boston real estate advertisements lately?

He wants to hook you up with the top agents in your area – AND only charge you a 2% commission.

They keep the 2% circle at the bottom of the advertisement for the entire 30 seconds to engrain in your head that they have some magic network of top agents who will work for the discount rate.

Be careful of Referral Agent TV Ads

The agreement they have with agents is that you will be presented with a 2% option, which is the typical For-Sale-By-Owner plan – if you find your own buyer, then the agent will handle your paperwork for 2%. At that point, you’ll probably wonder about the more traditional plans where your listing agent handles the whole process. The next thing you know, you’ll be signing the listing agreement at 6%.

Why will these listing agents insist on the more-expensive plan?

It’s because they have to pay a finder’s fee to the advertiser.

Whenever a corporate third-party is referring you to an agent, there is a fee paid by the agent – and it’s hefty. Whether it is a TV-advertiser, an internet pitch, or relocation company provided by your employer, they all take a big cut out of your agent’s commission – usually 25% to 30%.

The great listing agents – the ones you hope will sell your downtown Boston condo for the most money – will pass along this finder’s fee to you. 

I’m reminded of the fable:

Don’t count your chickens

After milking the farmer’s cows, a milkmaid was carrying the pail of milk on her head to the dairy and thinking to herself, “With the cream that I shall get from this milk I can make some butter, which I’ll take to market and sell. I’ll buy some eggs with the money, and when hatched I’ll have some chickens for a poultry yard. I can sell the poultry, and with the money I’ll buy a fine gown to wear to the fair. All the young men will admire me and make advances, but I shall toss my head and dismiss them”. At which, lost in her ambitious thoughts, she did toss her head, dropping the pail and the milk on the ground, dashing her dreams.

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