Understanding brokerage fees.

Ask what services are included, who will perform them, and which marketing or third-party costs are separate. The engagement should make the compensation and term clear.

The signed agreement sets the fee and the services included. A quoted rate is a proposal for a particular engagement, not a required market rate.

What the law says

New York does not set a commission. Every brokerage fee is negotiable and is fixed by the signed agreement for that engagement. A seller who chooses to offer compensation to a buyer’s broker agrees to that separately.

What a listing fee costs, in dollars

Averbrook’s listing-side fee is 1.45%, with a $2,950 minimum and a $7,450 maximum, paid at closing. Compared with a 2.5% listing-side fee:

• $300,000 sale: $4,350 with Averbrook, $7,500 at 2.5%.
• $450,000 sale: $6,525 with Averbrook, $11,250 at 2.5%.
• $600,000 sale: $7,450 with Averbrook (the cap applies), $15,000 at 2.5%.

The 2.5% figure is an illustration, not a standard or a claim about what other brokers charge. Buyer-broker compensation, transfer taxes, attorney fees and other closing costs are separate from the listing fee.

Questions to ask any broker

• Which services are included, and who performs them?
• Is photography included, and which marketing costs are extra?
• When is the fee earned and paid, and what happens if the sale does not close?
• How long is the agreement, and how can it end?

See full-service selling with Averbrook or compare fees with the calculator.

Further information →

General information, not advice about a particular transaction.