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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?
Response by columbiacounty
over 16 years ago
Posts: 12708
Member since: Jan 2009

yes.

now.

just ask for it.

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Response by front_porch
over 16 years ago
Posts: 5316
Member since: Mar 2008
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Response by HT1
over 16 years ago
Posts: 396
Member since: Mar 2009

it depends on the aptm size
for a studio most likely no discount
for a 3bedroom 5% is more than enough

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Response by downtown1
over 16 years ago
Posts: 2
Member since: Mar 2009

Thanks eveyone. This is helpful.

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Response by sidelinesitter
over 16 years ago
Posts: 1596
Member since: Mar 2009

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.

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