The NAR settlement initially raised concerns that Boston condo broker commission rates would decline dramatically. However, recent studies indicate that commission rates for buyer and seller agents have stabilized and even slightly improved in certain cases. For instance, buyer agent commissions averaged 2.55%, aligning with last year's figures. Listing commissions also increased to 2.73% recently, reflecting a recovery from previous lows. While a Redfin report noted a year-over-year decrease in commissions in general, the stabilization in rates for various price segments suggests a complex market influenced by factors such as inventory and mortgage rates.
"This consistent upward trend over the past months suggests a modest recovery or stabilization in seller commissions, countering initial fears of significant rate declines."
"Market forces, such as inventory levels and mortgage rates, are likely to have the biggest effect on commissions going forward, the report concluded."
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