What is the standard real estate commission in Massachusetts? If I decide not to use an agent when buying a home, what happens to the money that would have been my agent's commission?

There is no commission that is set in stone but the commission that you will see most often is 5%. Sometimes you'll see a commission at 4 1/2 % but generally not any lower unless there is some special circumstance. I wouldn't want to bargain too hard to get a lower commission because you want the broker to be incentivized to sell your property. Some people will even offer a higher commission in order to make it the broker's top priority to sell their property. The way commissions generally work is that the listing broker gets a 5% commission and then the listing broker has to take care of the buyer's broker, referring brokers if there are any, property managers if they are a referral source and any other parties who may have been influential in getting the broker the listing. Accordingly, if you do not use any broker as your agent, you are not going to save any money. What will happen is that the listing broker will get the whole 5% instead of sharing it with the buyer's broker. I think you would be better off using a broker because the broker will try to weed out the properties that you may not have an interest in and the buyer’s broker will help to negotiate the best deal for you notwithstanding the fact that the broker will be paid by the seller and not by you. You are correct in thinking that that seems to be a conflict since it is, because the buyer’s broker is paid by the seller. But that is something that just is and most good brokers will advocate very hard for their client which is in reality you.

If you have questions about this or any other legal matter, please contact Tom Bennett at (617) 531-6574 or tvb@barronstad.com.

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