10% commission...instead of cutting price

So, the idea is to get brokers who are representing scarce buyers to discard professional ethics and steer their customers to this apartment because it pays a higher commission? That's the kind of unimpeachable conduct for which the real estate industry is known and loved. It's basic "boiler room" stuff.

Buyer still won't pay more than market value and seller will end up paying 10% while having to in the end accept a lower price. Silly.

I bet you the 10% is contingent upon a minimum price set forth by the seller. The lower the price, to get the deal done, any buyer broker will have to expect lower than a 5% commission as marketed. Thats what I would do as a seller, if I ever employed such a strategy, which I definitely wouldnt

Developers will do almost anything to avoid recording a sale significantly below asking. Bumping-up commissions is only the first step. Next comes concessions like transfer taxes, free upgrades/modifications and even free common charges. Several buildings are offering a year of free concierge service like Abigail Michaels or Quintessentially, which are both useless because if you're in the income bracket to be shopping at these buildings, you probably already have these kinds of services in the form of assistants, AMEX or your employer's corporate concierges. I've seen free gym memberships, free parking, free TV's....everything possible not to lower the sales price.

If the current market stagnation continues (and I think it will), developers will soon realize that these bells and whistles just aren't cutting it and they'll have to start bringin' out the ax.

Maybe they don't want to drop the price bc they don't want to create the appearance that the market is soft. It is in broker's best interest to have high sales comps available.

the market will ultimately determine price, not the brokers or the brokers pricing of a particular property. In addition, in todays tight lending environment and focus on appraisals, I would not expect an appraisal to come in at the number needed to secure financing, if a buyer is duped into paying significantly over what is perceived as current market value by the hired appraisal company for the lender.