📊 The data:
We surveyed local agents and found that the average real estate commission in New York is 4.97%, which is less than the national average of 5.37%. Calculate your estimated commission in New York.
The average total real estate agent commission rate in New York is 4.97% of the final sale price. Based on the latest median home sale price in New York ($453,887), that translates to a total cost of roughly $22,558.
Home sellers typically cover the total commission fee from their sale proceeds, which is split between the listing and buyer’s agents who handle the sale. In New York, the average listing agent fee is 2.61%, while the average buyer’s agent fee is 2.36%.
Real estate agent commissions make up a significant portion of the closing costs for New York home sellers. But you don't have to pay the full 4.97% to a traditional agent. If you're selling a home in New York, you can use a discount broker to save on realtor fees. In fact, depending on your situation and the agents you work with, you could save 32% on realtor fees, or about $7,308 on average.
⚡ Find top agents and save: Answer these five simple questions to get matched with the best local agents offering reduced commission rates. Compare agents from top brokerages like Keller Williams and RE/MAX, and get a discounted rate through Clever’s partner network.
How real estate commission works in New York
|Average listing commission||2.61%|
|Average buyer's agent commission||2.36%|
|Total average commission||4.97%|
There are usually two real estate agents involved in the real estate transactions of a home sale:
- The seller's agent (also called the listing agent), who represents the home seller
- The buyer's agent, who represents the person buying the home
Based on our research, the average real estate commission paid in New York for listing agents is 2.61% of the final home price and 2.36% for buyer's agents, for a total of 4.97%.
Real estate commission calculator for New York
Use this commission calculator to estimate how much you'll pay in realtor fees when you sell your home in New York. Enter an estimate of your home's sale price, and see how much you'll pay at different commission rates.
Who pays realtor fees in New York?
When selling a home in New York, the real estate agent fees for both the seller's and buyer's representatives are deducted from the final sales revenue. You don't need to prepay these costs.
The seller's agent makes their fee by supplying services such as market analysis and handling the closing paperwork. The buyer's agent makes their fee by bringing a qualified purchaser who satisfies the contract terms and completes the sale on time.
Why do sellers pay the buyer's real estate agent commission?
Offering to cover the buyer's agent fee can likely draw in more potential purchasers for your home.
Taking on this cost makes your home more appealing to buyers, who otherwise would need to pay their agent's fee upfront plus the down payment and closing charges. Many buyers can't afford these extra initial expenditures.
When you make a competitive offer for the buyer's agent fee, real estate agents are more incentivized to showcase your home to their clients. This boosts your odds of getting multiple bids. Real estate professionals recommend advertising a buyer's agent fee within 0.5% of the local norm, which is 2.36% in New York.
Will the NAR lawsuit change how real estate commission works?
A November 2023 lawsuit found the National Association of Realtors (NAR), Homeservices of America, and Keller Williams Realty guilty of misleading sellers into paying high realtor fees.
The judge agreed with the plaintiffs that sellers should not be on the hook for the buyer's agent commission. It's too early to tell if this decision will change how buyer's agents are paid. We're monitoring the appeal in this case as well as other lawsuits and will keep you updated.
» READ MORE:
How to save on realtor fees in New York
Commission rates are not set in stone. In fact, we found that while 2.61% is the average in New York, rates typically fall between 3.57% and 6.37%. You can save money by negotiating a lower rate with your listing agent or by working with a discount real estate brokerage.
|Listing commission range||1.91%– 3.31%|
|Buyer's agent commission||1.66%– 3.06%|
|Total commission range||3.57%– 6.37%|
Can I negotiate realtor commission in New York?
Real estate commission is always negotiable. In New York, the 16 agents we surveyed said these were their most common reasons for agreeing to lower their commission.
|Would you lower your commission for…?||Agents who answered yes|
|Homeowners who also plan to buy with you||63%|
|Homeowners with more than one property to sell||56%|
|Homeowners who are repeat clients||50%|
|Higher property values||44%|
|Seller’s situation (e.g. divorce or death in the family)||44%|
|High competition for clients||38%|
|Homes expected to sell quickly||19%|
|Periods of low housing inventory||13%|
|High buyer demand in the area||6%|
|Highly experienced home sellers||6%|
|Houses in excellent condition||6%|
Negotiating realtor fees in New York depends on two main factors: your situation and the housing market.
|Factor||You may have an easier time negotiating low rates if...|
|The New York housing market||
While your personal circumstances may vary, real estate conditions in New York will impact all home sellers in the area.
Generally in a seller's market, where home sellers have more leverage than buyers, listing agents' jobs are more straightforward so they may be more open to reducing their fees. The opposite is often true in a buyer's market.
Not comfortable negotiating with a realtor? Avoid the awkward conversation and let Clever pre-negotiate a lower rate with a top agent for you.
To assess the current state of your local real estate market, examine these three factors:
- Months of inventory
- Sale to list price ratio
- Home value movements
If all factors indicate New York is a seller's market, you may be in a good position to negotiate a lower rate with your agent. If market conditions are mixed or favor buyers, it may be tougher to get your realtor to accept a cheaper commission.
The current state of the New York real estate market
|Months of inventory||There's 2.1 months of housing inventory on the market||Seller's market|
|Sale-to-list ratio||Homes are selling for 98.66% of their listing price||Seller's market|
|Home values||Home values have risen 25.16% year over year||Seller's market|
Low commission real estate companies in New York
Negotiating a lower rate with a professional negotiator can be hard! In many cases, home sellers can save just as much (or more!) by selling with a low commission real estate company.
Discount real estate brokers typically offer full-service support for a reduced commission percentage or flat rate. How they create those discounts will depend on the company's model, with some creating more risks and trade-offs than others.
Clever Real EstateLearn More
Overview: Clever is our top pick in New York for home sellers looking to save on realtor commission without sacrificing service.
✅ Benefits and features: Clever gets you discounted rates (up to 50%) from non-discount realtors. Plus Clever’s matching service is highly rated and free to use with no obligation.
🏠 How it works: Clever matches you with top local realtors from major brokerages like RE/MAX and Compass. You compare options to find the best fit and get the special 1.5% listing fee (same as Redfin) no matter who you choose.
- Sell with a traditional agent from a name-brand brokerage (not a discount agent)
- Agents work for up to 50% off their typical rate when you go through Clever
- Most agent selection by far — choose from many top New York State realtors
- No guarantee you’ll be able to work with a specific agent or brokerage you have in mind
- Add-ons like professional staging, drone photos, and 3D tours may cost extra (agents will break down what’s included during their listing presentation)
- 1.5% listing commission ($3,000 min.) paid at closing
- 2–3% buyer’s agent commission paid at closing
Redfin New YorkLearn More
Overview: Redfin’s discount real estate service offers a decent value overall for most home sellers in New York.
✅ Benefits and features: Redfin’s 1.5% listing fees can net you solid savings, and you can get an additional 0.5% listing fee savings if you sell and buy with Redfin within 12 months. Redfin is also a large, well-established brand with more discount realtors to choose from than other local discount real estate brokers.
🚩 Potential red flags: Redfin’s tech-centric and team-based approach to selling isn’t for everyone. Redfin conducts most of the process remotely, and you work with a Lead Agent and a back-office team. Redfin also has a minimum $2,000–6,000 fee in New York. So depending on your home value and where you’re selling, you may pay more than the advertised 1.5% rate.
- Solid listing fee savings
- Established brand and decent agent selection
- Appealing, technology-driven approach for sellers who prefer it
- Higher minimum fee vs. other New York options
- High-volume, team-centric approach may not be for everyone
- Less agent selection than Clever
- 1.5% listing fee ($2,000–6,000 min. in California) at closing
- 2–3% buyer’s agent commission at closing
- 0.5% listing fee refund if you also buy with Redfin within 12 months
*Not enough available data at this time
Hours: 8 a.m.–5 p.m. CT, 7 days a week
Address: 2710 Media Center Dr, #210, Los Angeles, CA 90065
Areas served: California
Prevu Real EstateLearn More
Overview: Prevu Real Estate is a multi-state discount real estate brokerage that offers full service for a competitive 1.5% listing fee (minimums may apply). However, Prevu’s real value is geared toward home buyers, with up to a 2% commission rebate when you purchase a home.
✅ Benefits and features: The 1.5% listing fee can lead to decent savings for home sellers. Plus, its online platform makes communicating with your agent easy, and reviews are largely positive.
🚩 Potential red flags: There’s limited data about the company’s transaction history in New York, making it challenging to gauge its local performance compared to competitors. Also, it’s unclear what the minimum commission fee range is for New York.
- Good listing fee savings
- Established multi-state operation
- Online platform allows for easy communication with your discount realtor
- Limited data about the company’s performance in New York
- Less agent selection than Redfin and Clever
- Unclear what the minimum listing fee is
- 1.5% listing fee paid at closing
- 1.5–2.5% buyer's agent commission paid at closing
* There is a minimum commission fee, but the website doesn’t state the amount.
Thinking of selling your home but don't know where to start? Here are some next steps.
Start interviewing local agents
Set up some listing appointments, where an agent visits your home to discuss its estimated value, lay out their marketing strategy, and provide a quote for their fee.
Here's why it's smart to sit down with a few agents before signing with one:
It's completely free to meet with agents: There's no obligation or risk on your end. Just keep in mind that the agent is meeting with you to win your business, and will try to sell you on their service.
You can compare pricing and features: Shopping around helps you find the best fit for your specific needs – in terms of fees, experience, and services provided.
Learn more about your market from an expert: Realtors can provide local data, like how much nearby homes are selling for, how fast they sell, and other current market trends.
Learn about the home sales process: An agent can walk you through the sales process from start to finish, and provide tailored advice for marketing your property to home buyers.
To get started, check out our guide on the best ways to find real estate agents — or you can sign up for Clever’s free agent matching service below to connect with top realtors in your area right now (and save on commission).
Clever has pre-negotiated low commission rates of only 1.5%, with New York's top agents. Contact Clever today to find out how much you can save on commission!
Clever can connect you with top local agents sell your house for a pre-negotiated low rate: just a 1.5% listing fee when your home sells (half the typical rate!).
You can interview your Clever agent matches, get free pricing estimates, and compare marketing plans — all with no strings attached.
Ready to learn more? Click below to take our simple quiz and see your agent matches!
We gathered our commission rate data from a survey of 623 of our partner agents. The survey asked about standard local rates for both listing and buying agents. We also asked agents about when and why they're willing to negotiate real estate commissions.
Additionally, we utilized the following data from Zillow and Realtor.com:
- Home values, list prices, and sale prices: Based on Zillow data as of August 2023
- Sale prices and sale-to-list ratios: Based on Redfin data as of February 2023 (unless specified otherwise)
- Months of inventory: Based on Realtor.com data as of February 2023