What is a fair commission rate to give a realtor that's selling a co-op in nyc?

Question

I'm selling my co-op in nyc (Riverdale, NY actually) and I need to know what is a fair commission to give a realtor (what percentage of the gross selling price goes to them)?

Answer 1

I'd suggest a range between 5% and 7% of total sale value of the property. That seems to be a general range across the nation right now. Such commissions ARE negotiable, but be cautious. When you downgrade an available commission to a realtor, you are likely going to get what you pay for (or do NOT pay for)

Answer 2

you have the fee incorrect. it somewhat is in many circumstances 5 or 6 %. basically fools artwork with brokers, artwork straight away with the broking provider. He can charge much less or kick returned a number of his fee to assist the customer. they have a lot of over head expenditures. MLS and board memberships (maximum residences are offered by the MLS). merchandising is extremely costly, and it somewhat is a huge gamble, if the living house does not sell there is not any re-coup on the expenditures. there's a issue with the decrease commissions on properties. brokers, fantastically green ones, won't teach it. they're fascinated in a one time sale, not an prolonged term dating (yet one greater reason to stick with brokers). Land is somewhat differant. customers are actually not basically few, they desire something incredibly particular, so the valuables is shown to whoever seems. additionally, the bargains are plenty greater uncomplicated to close.