What is the average real estate commission for Suffolk County, Long Island, NY?

Asked by Dee1393, Sayville, NY Wed Feb 20, 2013

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8
Gail Gladsto…, Agent, 11743, NY
Wed Feb 20, 2013
Dee,

There is no average; there is no regular....this would be against Federal Laws.

Each Realtor charges based on their own perceived worth and we are not allowed to discuss commission charges with anyone but our prospective clients.

My mother always told me; you get what you pay for.

gail@GladstoneGroupRealty.com
1 vote
Mark Wilson, Agent, Pebble Beach, CA
Thu Feb 1, 2018
A total commission of 6% is typically asked for by “full service” Agents working for the big national real estate firms in Long Island, NY. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26%.

In New York, you will find the following real estate commissions charged:

Typical Asking Commission: 6%
Competitive Commission: 5.0%-5.5%
Very Competitive*: 4.5%-4.99%

* 4% commission can be negotiated on multi-million dollar properties

IMPORTANT...

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

AGENTS ARE WILLING TO BID THEIR COMMISSION RATE TO GET YOUR LISTING...

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in NY.

I hope this information help and good luck to you in selling your home!
0 votes
UpNest, Agent, San Francisco, CA
Fri Dec 2, 2016
The average commission fee for NY is around 5-6%. UpNest.com is a great platform that has several NY agents within their database. If you're looking to pay less than the average commission price, UpNest can help you find a realtor with a commission rate that better fits your needs.
0 votes
Chris Oliver…, Agent, New York, NY
Thu Nov 17, 2016
Hi Dee,

The average or typical real estate commission rate in the New York City area remains at 5 to 6%.

Given advances in technology and the entrance of proven, reduced-commission models for selling (check us out by the way), commission rates in the city have barely budged.

There are a few reasons for this which include:

1. Lack of transparency or disclosure in regards to how much commission sellers actually pay
2. Brokerage prohibitions against negotiating down commissions
3. Dominance of buyer’s agents, who represent over 75% of buyers.

We discuss all of this in more detail (as well as ways you can REDUCE or ELIMINATE the traditional (average) real estate commission in New York City on our blog.
0 votes
Mark Wilson, Agent, Pebble Beach, CA
Fri May 13, 2016
The best way to find out the going real estate commission rate is to put the Realtor fees on the open market and let the Agents bid your commission rate. Commission fees are negotiable and can vary by zip code. We find the best way to compare commission fees is to reverse-auction them. That is why we created ListingBidder.com; a free service for Sellers who can invite agents to submit their marketing plan and commission structure. It is a patent pending process that is saving Sellers thousands.

It is completely free to the Seller and there is no obligation for the Seller to pick the lowest bid or any bid. The whole time the Seller remains anonymous as we never publish your street address or contact information. Sellers can sit back and review marketing plans, commission bids, ratings and reviews. A big win for the Seller. After all, Agents are not charged to register or bid and they have no obligation to bid. Give it a try: https://www.ListingBidder.com
0 votes
dploves2sell…, Agent, Woodbury, NY
Tue Aug 11, 2015
Keeping in mind the law about commissions, commissions are negotiable. The commission is agreed upon between the Realtor and their client. It is extremely important to be comfortable with the Realtor you are hiring. Providing excellent customer service is a must!
0 votes
i was told by folks i know on long island that commissions are lower than inGeorgia, where homes are cheaper. at least 2 folks have told me 5% up there. just wondering, as i plan on selling a home up there
Flag Wed Aug 17, 2016
UpNest Top R…, Agent, Burlingame, CA
Tue Jun 2, 2015
Hi, I noticed this conversation has died down a little bit in the past few years. But I wanted to chime in for anyone else that is interested in commission rates in Suffolk County.

Typically, you'll come across 6% as the standard agent commission rate. Commission is negotiable, and the amount that it can be negotiated is usually dependent on location and price. Remember also that commission rate is split between the buying and selling agents, as well as their brokerages.

We created our service to help home sellers connect with top local agents while paying a fair commission rate. Agents will compete to earn your listing, and when agents compete they bring out their best commission rates and value added services.

http://www.upnest.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Feb 20, 2013
Commssions are always negotiable between you and your agent, there are no set standards; therefore interview a few agents from different realty companies then choose the one you like best and who has the most to offer; choose your agent with care and not by commission alone...
0 votes
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