Discounts to Broker's Commissions
Started by downtown1
over 16 years ago
Posts: 2
Member since: Mar 2009
Discussion about
Have any sellers in Manhattan or Brooklyn had success in getting a discount to the standard 6% broker's commission? Does anyone have an opinion as to whether this will happen?
yes.
now.
just ask for it.
http://moneywatch.bnet.com/saving-money/blog/ask-agent/are-real-estate-commissions-really-going-up/136/?tag=content;col1
ali r.
{downtown broker}
it depends on the aptm size
for a studio most likely no discount
for a 3bedroom 5% is more than enough
Thanks eveyone. This is helpful.
The couple we bought from got 5% from a major brokerage firm on a coop priced in the high 6 figures. We figured this out from the calculation of the seller's flip tax at closing, which was a % of profit, net of transaction costs (which included the brokerage fee). This was in the early 2000s - pre-bubble or early bubble, depending on your view - and market activity was at a decent level. I would think that in today's transaction-starved market you could do better.