Has anyone negotiated a lower brokerage fee?

I had a wonderful experience with Elliman selling my apt and am now using them again to look for a larger one on the UES. Don't under-estimate the work they do on a co-op sale. They are basically handling the whole board package with the managing agent. IT is VERY time consuming and they did a great job on the sell side for me. Nothing worse than getting your buyer rejected by the Board. I did not negotiate on the commission because it was a small pied a terrre and ask was in the high 5's. But if I were selling something over 2 million - yes, I would try to negotiate. The brokerage houses really compete for the good listings so I imagine they are somewhat flexible on the higher priced stuff.

The unofficial rule of thumnb at Corcoran is if your property is $1 million or more they will bring their commission down to 5%, otherwise they hold tight at 6%.

Not sure how flexible Elliman is.

test

Quite easy if they don't accept a lower commission than go to another broker I don't think you will have trouble finding RE broker in NYC.

As for rentals, by the way, if you contact a listing broker directly, they'll very quickly knock of 5-10% (and you should be able to negotiate more), since they don't have to split the commission.

Re selling and #5's comment, I would be averse to paying a lower-end broker 3-4%, intead of 5-6% for elliman/corcaran. I think if you want the place to sell and with reasonable speed, you want to make sure it's being fully marketed.

Realestatejunkie---if you can get an experienced broker at the larger firms like Elliman only as their website is one of the most visited especially since they are the exclusive brokers of Yahoo Real Estate. If you are dealing with a small firm with no web presence, forget it as this will definitely cost you in the long run as they do not have the money to compete with web advertising and they rely on the larger firms to bring buyers because their sites do not have the traffic. Yes I am a broker for Elliman and recently had to cobroke a deal with a smaller firm who ultimately delayed the closing because not only are most of the brokers inexperienced but they did not have a modern copy machine so it took them close to 3 business days to copy the board package. Of course, by the time they finished the managing agent was on vacation and the approval/closing was held up. It always amazes me how these firms are even in business.

While you are negotiating for a lower commission why not practice making lower offers on your next purchase as well. The same scumbag realtors who charge high commissions are the same lowlives filling sellers' minds with hype about how much their homes/apartments are worth, driving prices ever higher and higher.

Plevy, is there a discussion thread on Streeteasy where you actually have not tried to get business by listing your website and touting DE?

I agree with #9 Plevy, your constant posting of your website to drum up realty business does call into question the value of your advice.

halstead and elliman --- their top producers have some latitude, they will cut their shrae to make a deal.

Plevy, can you tell us if DE accept less than 6% commission?

owa tana siam

My broker (buyers broker) dropped his commission $1000 and credited to me in order to close the real.

You hear that Plevy, people on this board want real insider info (the point of message boards) not broker propaganda. So please do tell how much Elliman will drop commissions and how we can knock it down even further.

Damn somone asks Plevy a real question and she is mysteriously silent for once....