{"id":4091,"date":"2023-03-10T21:55:40","date_gmt":"2023-03-10T21:55:40","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2023\/03\/10\/properties-adds-new-broker-fee-increases-outside-broker-mls-fee\/"},"modified":"2025-03-13T02:49:52","modified_gmt":"2025-03-13T02:49:52","slug":"properties-adds-new-broker-fee-increases-outside-broker-mls-fee","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2023\/03\/10\/properties-adds-new-broker-fee-increases-outside-broker-mls-fee\/","title":{"rendered":"&#8216;@properties adds new broker fee, increases outside broker MLS fee"},"content":{"rendered":"\n<p>Chicago-based brokerage and technology firm <strong>@properties | Christie\u2019s International Real Estate <\/strong>has introduced a new fee on agent commissions, according to <a href=\"https:\/\/therealdeal.com\/chicago\/2023\/03\/09\/properties-adds-1-broker-fee\/\" target=\"_blank\" rel=\"noreferrer noopener\">a recent article<\/a> published by the <strong>The Real Deal<\/strong>.<\/p>\n\n\n\n<p>Co-CEOs Thad Wong and <a href=\"https:\/\/www.realtrends.com\/blog\/articles\/properties-mike-goldens-on-talent-attraction\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mike Golden<\/a>, who <a href=\"https:\/\/www.housingwire.com\/articles\/properties-looks-beyond-chicago-with-christies-deal\/\">acquired<\/a> New York City-based brokerage Christie&#8217;s International Real Estate in December 2021, told agents in an email that the company is adding a 1% agent services fee on gross commissions for company-owned @properties offices.\u00a0<\/p>\n\n\n\n<p>The company leaders cited low brokerage revenues and high expenses as the reasons behind the move, according to TRD.\u00a0<\/p>\n\n\n\n<p>\u201cInflation has hit everyone including @properties, and today it costs significantly more to run a large brokerage firm than it did just a couple of years ago,\u201d the email stated, noting that it was \u201cincredibly hard\u201d to keep the fee as low as possible.<\/p>\n\n\n\n<p>The fee will apply to transactions closed on or after April 1. It will be shared between the agent and the company, \u201cdepending on previously established splits.\u201d<\/p>\n\n\n\n<p>However, the fee will not extend to <a href=\"https:\/\/www.housingwire.com\/tag\/properties\/\" target=\"_blank\" rel=\"noreferrer noopener\">@properties<\/a> franchises or Christie\u2019s International Real Estate franchisees, according to the report. <\/p>\n\n\n\n<p>The company also announced that it will increase its MLS fee for transactions by $100 for outside brokers. The fee was previously $395 and will increase to $495. The fee for in-house agents will remain at $250.<\/p>\n\n\n\n<p>Christie\u2019s International Real Estate is an invitation-only affiliate network operating across nearly 50 countries and territories.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chicago-based brokerage and technology firm @properties | Christie\u2019s International Real Estate has introduced a new fee on agent commissions.<\/p>\n","protected":false},"author":39545,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[2886],"class_list":["post-4091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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