New Boston condo broker fee commissions and its impact on condo buyers

What changes now for homebuyers and sellers

If the settlement announced Friday is approved by a federal court, the standard 4 – 6% commission goes away. Sellers would no longer have to make a compensation proposal to prospective buyers and their agents. Critics have said the encouraged brokers to push their clients toward more expensive properties.

Another new rule would see homebuyers having to sign an explicit deal with a broker before they start working with one — something experts say would lead many homebuyers to forgo using brokers entirely.

The new rules would kick in within months of approval, currently expected around mid-July.