Real Estate FAQs

Frequently Asked Questions

Bozeman Brokers Real Estate knows there are some questions that can be answered quickly. We want to make sure you have the information you’re looking for; so here are our most frequently asked questions and their brief answers.

If you have additional questions, please reach out to us - we will get you an answer from a trusted agent as soon as possible!

The average/median price of Bozeman homes changes with every sale -- For the most up-to-date and relevant statistics contact your favorite real estate agent.

In 2023, the average closing price was $942,897 - $29,845 under the average listing price of $972,742. The median closing price was $745,500 – $13,950 under the median listing price of $759,450 for the same time frame. These statistics are compiled from 1,070 properties.

Statistics pulled from Big Sky Country MLS Cross Property Analytics using Sold residential properties (Condominiums, Manufactured De-Titled Homes, Single Family Homes, andTownhouses) in Bozeman City Limits and the Greater Bozeman Area.

Check out our blog with monthly data updates!

There is no charge to “just talk” with an agent at Bozeman Brokers Real Estate. Our agents have found that a well-informed client is a life-long client.

However, once you have decided to view or list properties with a Bozeman Brokers Real Estate agent, they will require you to sign a Buyer Broker Agreement (buyers) or a Listing Agreement (sellers) - these documents will outline the unique and negotiated compensation between you and that agent.

Example: for a home closing at $500,000 with the agent’s compensation negotiated to 2.5% would be $12,500.

Compensation includes:

- Experience and education of a full-time licensed REALTOR®

- Negotiation experience

- Expansive trusted network of vendors, inspectors, lenders, & appraisers

- Full disclosure

- Interest advocacy

- Up-to-date market trend information & statistics

If you have more questions about agent compensation ask us!

The process of buying a home: Save for downpayment/closing costs and know your credit score, find an agent, get pre-approved with a lender, find a home, make an offer/go under-contract, complete due-diligence with a home inspection and appraisal, set a closing date with the title company, then finally close & move into your new home.

To start you will need the contacts of a licensed real estate agent and bank/lender. After picking licensed real estate agent, they can help you find a lender. During the home purchase process, you will also gain the contacts of an inspector, appraiser, handymen/vendors, and title company through your buy-sell contract.

You will also need a sum of money set aside – that should include earnest money, closing costs, down payment, appraisal fees, inspection fees, and agent compensation. It is important for you to have a realistic understanding of your finances and realistic expectations of your home buying expenses– these are conversations you should have with a financial advisor and your lender. Your lender may have options or programs available to decrease some of these costs or incorporate them into the loan rather than have them as up-front costs. Make sure your agent is aware of how much home you can afford and ask about their negotiation experience to help you get the most for your money.

Once all your ducks are in a row… the average home purchase process takes 20-45 days from the time an offer is accepted. The time spent searching for a home is completely up to you – you may love the first home you see, or you might have to wait until a home you love comes along.

Check out more tips for buyers!

The process of selling a home: find an agent and sign the paperwork that allows them to list your home, make recommended changes to the property, allow your agent to find a buyer for your home through showings, field offers, go under-contract, allow the buyers complete due-diligence with a home inspection and appraisal, set a closing date with the title company, then finally close!

To start you will need the contacts of a licensed real estate agent and title company. After picking a licensed real estate agent, they can help you find a title company and handymen/vendors to help you get your home in selling condition.

You will be financially responsible for negotiating your seller’s agent compensation, this will happen at the time of the listing agreement signing. Sellers are also financially responsible for any upfront costs to changes/updates they make to get the home in selling condition.

Your home will have a set time frame that it can be officially on the market denoted in the negotiated Listing Agreement. In 2023, the average number days on market was 45 and the median number of days on market was 21.

Check out more tips for sellers!

In today’s real estate market there really isn’t a bad time to buy or sell – the days of strict seasonality in the market are decades gone. With that said, each season does have benefits and drawbacks…

Winter – December to February

The winter months are usually a good time to start talking to your agent and planning for the coming year. Because there is usually a solid baseline of inventory allowing for buyers to start the home purchase process. If a buyer is looking at your home in a blizzard – they are probably pretty serious.

Spring – March to May

Especially in a college town like Bozeman, summer school schedules are a large driving force in voluntary moves. It is fairly common to see an increase in homes being listed during this time as parents and students alike prepare for summer moves. This is a great time for buyers because there is a ton of inventory to choose from.

Summer – June to August

The summer months bring many contracts to the office as the bustle of the summer moving crowd finalizes their transactions. There is usually still a fair amount of inventory and an influx of college students/parents purchasing homes during this time.

Fall – September to October

The fall/winter months tend to have fewer buyers and sellers in the market than the spring/summer months. This means less inventory to choose from and less competition between buyers for the properties listed.

Check out our listings!

All Brokers are agents, but not all agents are Brokers.

A real estate Broker is a more experienced agent than a licensed REALTOR®/agent. Brokers have a significant number of completed transactions, additional education, and have passed the State and National Real Estate Broker Exam. Brokers can own agencies and work without supervision. Licensed Realtors are required by law to work under the supervision of a Broker until they have met the previously mentioned criteria.

Choosing to work with a Broker gives you an advantage above other buyers or sellers without representation. Brokers have the experience and knowledge to guide you to a smooth transaction and successful negotiation. This is why our 10 founders decided to start Bozeman Brokers Real Estate. We pride ourselves on our well established, educated, and experienced Brokers who can give you the best advantage in the real estate market.

Meet our agents!

While most of our business is done in Bozeman, our agents work within the Big Sky Multiple Listing Service (MLS). The MLS platform allows our agents access to properties listed by other local agents from a variety of areas in Montana including:

Bozeman city limits, Belgrade, other Gallatin County areas, greater Bozeman area, greater Manhattan, greater Three Forks, greater Big Sky, Broadwater County, Madison County, Beaverhead County, Jefferson County, Meagher County, Park County, Sweet Grass County, Butte and surrounding areas, West Yellowstone, and other counties.

Check out our blog with more area information!

Bozeman Brokers Real Estate agents are well-versed on all types of real estate transactions - some of our agents have more experience in specific kinds of transactions so make sure you find the right agent for you!

Real estate transaction types include:

Single family homes, multi-family units, residential condos, residential townhomes, commercial buildings, commercial leases, commercial condos, warehouses, retail, shell spaces, vacant land, land with dwellings, ranches, 1031 exchanges, etc.

Check out our properties!

Bozeman Brokers Real Estate has been serving our clients since 2004 – our brokers have anaverage of 27 years in the industry and 243 years total combined real estate experience between nine broker partners (July 2024).

Our representation includes attention from a full-time agent, negotiation experience, a network of trusted vendors, full disclosure, interest advocacy, updated market trend information, access to professional in-house marketing, immediate listing knowledge, and peace of mind for our clients.

Our agents are active in Bozeman and surrounding communities - supporting local businesses, engaging with locals, enjoying local outdoor activities, and being diligent members of local non-profits.

Whether clients are considering buying a property, selling a property, or both - Bozeman Brokers Real Estate agents are equipped to give expert advice that is institutionally grounded, modernized for client convenience, locally driven, and individualized to each client.

Meet our agents!

Bozeman Brokers Real Estate’s founding members believed that when agents had the freedom to conduct business for themselves that client experiences would become more personalized and make for more long-term meaningful client relationships. The founding members did not want to be a number added to larger real estate firms, but rather a beacon of quality founded in experience, professionalism, and individualism.

One of the greatest advantages to incoming brokers is that Bozeman Brokers Real Estate does not take a percentage of commissions for office overhead costs. Brokers pay a monthly fee to the company for use of the office and it’s resources.

Each agent is welcome to build their individual following under the Bozeman Brokers Real Estate brand. Our company employs a professional in-house marketing coordinator to provide more timely, professional, and unique marketing materials.

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