Do all the major brokers still charge 6%?

That’s an interesting question, I would like to know the answer also. I know if you are very determined to avoid any broker fees you can go about selling it yourself. I think there was a post on SE re the methodology for selling an apt w/out any brokers.

That's right! 5% as of May 1, 2008.

What about the buyer? Can buyers get a break also?

Somebody else must have some insight on this. Anybody? Thanks.

Buyers don't technically pay a commission on purchases so there is nothing for a buyer to negotiate in this regard. If the buyer's broker takes less, the selling broker will just increase her take of the total 6% paid. It is illegal for the buying broker to kickback a portion of the commission to the buyer I believe (although a "credit" may work--someone with greater knowledge has to weigh in).

What can be done is to arrange that if the selling agent does not co-broker the deal, the commission will be less than 6%--perhaps 5 or 4%.

It works in Westchester for sure, but I wanted to see if people were doing it here. When we sold a house in Westchester to move back to the city in 2005, the suburban brokers were all happy to do it for 5%. Our broker ended up splitting the fee evenly with the buyer's broker, 2.5% and 2.5% each. No reason why that cannot happen in NYC in my opinion. The seller's broker always has the chance of keeping the whole 5%.

Not certain about the May 1st comment, but I believe the general rule of thumb with the brokerage agencies listed above, is if your listing is above $1MM they will take a 5% commission.

This place is swarming with brokers, but none of them will ever speak publicly about how to leverage lower commissions.

5% as of May 2008, HAHAHAHAHA, please back that up with some proof.

Always negotiate! Some brokers offer to lower their commission from 6% to 5% and potentially to 4.5% to get an exclusive sale contract. One may also negotiate when selling one property and buying another and using the same broker.

7,629 listings on streeteasy today, not in contract.

The more listings that are available, the more likely brokers will negotiate. 2.5% sure beats 0%

To realestatejunkie's point "this place is swarming with brokers, but none of them will ever speak publicly about how to leverage lower commmissions."

Um, I will. Some of it is in my book, but the two easiest ways to a broker's heart are a) volume and b) speed.

In terms of volume, Kelly8956 is right -- it would be a rare broker who wouldn't cut their prices in order to get that second deal, so one thing you can do is to ask your seller's broker to function as your buyer's broker as well. Of course, you'll have to see if this plays to their strengths -- I couldn't help a client who was selling in Chelsea to buy in Hudson Heights because I don't work that far uptown and I would do a disservice to them as their buyer's broker.

In terms of speed, if the price an apartment is going to sell for looks like it will be $1 million, you're going to have an easier time negotiating for a commission cut if you say you'd list it a $1.1 million rather than $1.5 million. Part of what real estate agents are trying to price is our time, and if an agent has to spend three months showing an overpriced apartment, the seller is going to pay that vanity tax.

Demonstrate that you have a strong understanding of comparable deals and are willing to price to market, and then see what your agent's response is about the price of their services.

ali r.
{downtown broker}

I have heard that some buildings are offering 7% -- 3 to the seller and 4 to the buyer so that they can move inventory. When trying to maximize return on a property -- disincentivizing the broker is penny wise -- pound foolish