Boston 2010 Real Estate News

Boston Property News

Sunday, March 1, 2009

Real estate firms cut commissions

Some top downtown real estate firms are adding insult to brokers’ financial injuries.

Moving to save costs — and, some industry insiders suspect, drive out underperformers — prestigious firms are taking sweeping steps, even reducing commission rates on the few deals brokers are able to close.

At Cushman & Wakefield of Massachusetts Inc., the commission scale has been changed so brokers have to do more business to make the same amount of money.

Commissions are paid on a sliding scale and generally step up based on how much business brokers bring into a firm.