Why I think Boston condo sales commissions will crater

Boston Condos for Sale and Apartments for Rent

Why I think Boston condo sales commissions will crater

When the NAR Settlement was announced, I felt, “That’s it! Commissions are coming down!” But it has been a much slower process than I thought.

Among the better studies done real estate commissions was by RISMedia. This study showed commissions falling by over 0.6%, from 5.64% in 2023-2024 to 4.96% from August 17th to October 7th. Buyer agent commission fell from 2.65% to 2.28% through same periods. RISMedia and the industry paint those as huge drops but… they’re really not, right?

I still feel Boston condo for sale commissions will crater. I know realize that it will take time for a century-old system to change. The tendency to resist change is a very powerful thing, and Boston condo for sale brokers won’t switch on a dime.

However, over time, the free market will find a new equilibrium point. Which is why I think we will see commissions to continue to drop in 2025 — probably towards the latter part of the year. It won’t be because of some new lawsuit or the DOJ or whatever, but because competition in the Boston condo for sale market is actually quite fierce.

Boston Condos for sale and the Bottom Line

Here in Boston, we know that discount brokerages are not exactly uncommon. I don’t plan t be the last Boston condo for sale company to lower my rates.

If you’re looking to sell your downtown Boston condo, keep me in mind, I just lowered my broker fees to 2%.