The article discusses the anticipated decline in sales commissions for Boston condos, particularly following the National Association of Realtors (NAR) Settlement. Initial studies show minor reductions in commissions, but the author believes a larger change is inevitable. They acknowledge that transitioning from a long-standing system is complex and slow, but the competitive nature of the Boston real estate market will drive down fees in the future. The article also highlights the rise of discount brokerages, suggesting they will influence consumer preferences and further lower commission rates.
The National Association of Realtors Settlement indicates that commissions are poised to decline, but the transition from a century-old system will take time.
Commissions for Boston condos have shown a slight decrease, but despite the RISMedia's study citing a drop, many experts believe these changes are not substantial.
The competitive landscape among Boston condo brokers will ultimately drive down commission rates, as market forces push for a new equilibrium in pricing.
Discount brokerages are on the rise in Boston, indicating a shift in consumer preference for lower fees, which could accelerate the overall drop in commission rates.
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