What's The Average New York Real Estate Commission?

Bailey Peterson

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Bailey Peterson

September 1st, 2022
Updated September 1st, 2022

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How commission works | Save on commission | New York housing market | Best low commission companies | Methodology

📊 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%.

To sell a house in New York worth $408,833 — the median home value in New York — you’ll pay about $20,319 in realtor fees.

Realtor commission is usually the largest cost you'll face when selling your home — but you don't have to pay the full 4.97%.

Clever Real Estate could help you save thousands on commission by pre-negotiating 1% listing fees with full-service New York realtors from top brokerages.

On that same $408,833 home — you'd pay just $13,700, up to 32% less than paying average rates.

» SAVE: Sell with Clever for 1% listing fees and save thousands in commission!

How real estate agent commission works

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 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 commission rate for listing agents is 2.61% of the final home price and 2.36% for buyer's agents, for a total of 4.97%.

» LEARN: How do real estate commissions work?

Who pays realtor fees in New York?

In New York, home sellers pay real estate commission fees out of the final sale proceeds for both agents involved in a deal. Offering to pay for the buyer's agent's commission is an incentive for agents to show your home to their clients.

If you'd like to save on commissions, Clever can connect you with a top listing agent in your area. You'll pay just 1% (or $3,000 if your home sells for less than $350,000), keeping more money in your pocket at the end of your sale.

💰 Get a lower rate with a top New York agent!

Want to find a top local agent in New York without overpaying on realtor fees? Clever negotiates 1% listing fees with top-rated New York real estate agents from trusted brokerages like Keller Williams, RE/MAX, and Berkshire Hathaway.

Get guaranteed full service for a fraction of the 2.61% rate New York agents typically charge. Schedule a free, no obligation consultation with a top local agent today!

How to save on realtor fees in New York

Commission rates are not set in stone. In fact, we found that while 4.97% 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 brokerage that has a discounted commission model.

Listing commission range
1.91%– 3.31%
Buyer's agent commission
1.66%– 3.06%
Total commission range
3.57%– 6.37%

Tips for negotiating realtor commission in New York

Whether you’re selling a pricey loft in Manhattan, a stately historic home in Ithaca, or a rental duplex in Albany, you can almost always negotiate a lower commission rate.

Negotiating a lower realtor percentage 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...
Your situation
  • You're selling a high-value home
  • You have a personal relationship with a realtor
  • You can offer a realtor repeat business
The New York housing market
  • Homes are selling quickly
  • There are relatively few homes listed for sale
  • Home values are rising

While your personal situation will obviously vary, New York real estate market conditions will affect all home sellers in your area.

In general, in a seller's market — where home sellers have more leverage than buyers — a listing agent's job is easier and they may be more willing to lower their commission rates. The opposite is usually true in a buyer's market.

» LEARN: Find our top tips for negotiating lower commission fees

To judge the current state of your real estate market, look at these three factors:

  • Months of inventory
  • Sale to list price
  • Home value trends

If every factor points to New York being a seller's market, then you may be in a good position to negotiate a lower commission rate with your agent. If market conditions are mixed or favor buyers, it may be more challenging to persuade your realtor to accept a cheaper fee.

The current state of the New York real estate market

Factor
Trends
Indication
Months of inventory
There's 1.8 months of housing inventory on the market
Seller's market
Sale-to-list ratio
Homes are selling for 104.53% of their listing price
Seller's market
Home values
Home values have risen 28.08% year over year
Seller's market

» FIND: The average commission rates in more New York cities:

New York City

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.

These are some of the top discount and flat-fee MLS services in New York.

The top discount real estate companies in New York

Discount real estate companies 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 Estate

Clever Real Estate

Learn More

💲 Listing Fee

$3,000 or 1%

💰 Avg. Savings

$7,375

⭐ Avg. Customer Rating

4.9/5 (1,810 reviews)

✍️ Editor's Take
Pros
Cons
Reviews
Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.


Try Clever for free — save thousands on commission

  • Free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX
  • Provides multiple agent matches so you can interview, compare marketing plans, and choose the best fit
  • Pre-negotiates low rates on your behalf — you get full service for a flat $3,000 listing fee, or just 1% if the home sells for more than $350,000
  • If you buy with Clever, you could get a check worth up to 0.5% of the home price
  • You may not get matched with an agent from your preferred real estate brokerage
  • Agents may not provide premium services like drone photography and professional home staging

As of 44,835, Clever has a 4.9 out of 5 rating on Trustpilot, based on 1,710 reviews.


Read reviews from real Clever customers here.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

SHOW MORE

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$5,550

⭐ Avg. Customer Rating

3.8/5 (425 reviews)

✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redfin offers real savings and a proven brand. But sellers could compromise on service — especially agent experience and availability.


Read the full Redfin review.

  • If you buy and sell with Redfin, you'll get a 0.5% listing fee discount
  • Redfin gives its listings premium placement in its popular home search app
  • If finding the right agent is a top priority, you'll have limited options Redfin only has a few agents in each of its markets
  • Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service

Redfin has a 3.8 out of 5 rating (425 reviews) across popular review sites like Google and Yelp.


Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

SHOW MORE
Prevu Real Estate

Prevu Real Estate

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$2,450

⭐ Avg. Customer Rating

5.0/5 (343 reviews)

✍️ Editor's Take
Pros
Cons
Reviews
Locations

Prevu offers solid commission savings for buyers and sellers. But at certain price points, other discount brands may offer better value.


Read the full Prevu review.

  • Prevu's 1.5% listing fee saves sellers an average of $2,450 compared to a standard 3% commission rate
  • Eligible buyers get a commission rebate worth up to 2% of the home price
  • High minimum fees may limit your savings if you're selling a lower-priced home
  • Prevu has a small team, which limits your options if you don't hit it off with the first agent it sends you

Prevu has a 5.0 out of 5 rating (343 reviews) across popular review sites like Google and Yelp.


Read reviews from real Yelp customers here.

Prevu is available in the following areas: CA, CT, MA, NY, PA.

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REX Real Estate

REX Real Estate

Full Review

💲 Listing Fee

2.5% ($9,000 min.)

💰 Avg. Savings

-$325

⭐ Avg. Customer Rating

4.7/5 (1,021 reviews)

✍️ Editor's Take
Pros
Cons
Reviews
Locations

REX’s promise of huge savings is misleading. Its advertising misrepresents the significant risks of its pricing model and marketing approach. And its high minimum fees mean that many sellers won't save anything.


Read the full REX Real Estate review.

  • REX's approach is incredibly risky — but if the gamble pays off, you could save about 50% on realtor fees
  • Like other full-service brokerages, REX agents provide in-person services and support
  • REX's 2.5% listing fee doesn't save you much — many full-price agents charge similar rates
  • REX doesn't list your home on the MLS, so up to 90% of buyers may not even know it's for sale
  • This risky marketing strategy seems likely to fail, so you may not save anything on commission

REX has a 4.7 out of 5 rating (1,021 reviews) across popular review sites like Google and Zillow.


Read reviews from real REX customers here.

REX is available in the following areas: AZ, CA, CO, FL, GA, MD, NV, NJ, OR, PA, TX, WA, DC.

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» LEARN: How do discount real estate brokers offer lower fees?

The top flat fee MLS listing services in New York

Flat fee MLS services list your home on your local MLS for a low fee, often around $199–$999. The trade-off is that you'll have to handle almost the entire home-selling process yourself.

Realmart Realty

Realmart Realty

Realmart Realty

Best For

Sellers looking for a lot of a-la-carte options

Price Range

$395

Pros & Cons

Pros:

  • You can choose from a lot of different a la carte options, like lockboxes, professional photography, and yard sign upgrades.
  • If you decide to go with a full-service broker, you can get a full refund when you sign with someone Realmart referred you to.

Cons:

  • You'll have to pay extra if you want to change any photos after your listing is live on the MLS.
SHOW MORE
Flat Fee Group

Flat Fee Group

Flat Fee Group

Best For

Sellers who prefer a hands-on approach to marketing and listing their home.

Price Range

$199-999

Pros & Cons

Pros:

  • Listing changes are unlimited and completely free.
  • Additional services such as signposts or lockboxes are available for small additional fees.

Cons:

  • There's a mandatory 2-3% buyer's agent commission if one is found.
  • Basic packages don't include document or contract reviews, nor will the brokerage offer advice. The seller will mostly be on their own.
SHOW MORE

» MORE: What you need to know about flat fee MLS services.

Learn more

New York has something for everyone, from the hustle and bustle of NYC, to quaint college towns like Ithaca and New Paltz, to resurgent cities like Buffalo. You can live in the city, hit the beaches in Long Island or the Hamptons, and summer upstate. Led by NYC, the state economy is booming, with tourism and financial services bringing in billions.

New York is really two markets: New York City, and the rest of the state. Both markets are thriving though, with home values rising steadily over the past decade and median home values that are significantly higher than the national average.

With so many markets to choose from, ranging from the ultra-high-end Manhattan market to the ultra-affordable upstate cities like Buffalo, there’s great value to find here no matter your budget. Sellers are promised big windfalls as well.

If you’re interested in saving thousands on real estate commission, Clever has already pre-negotiated low listing rates of only 1%, or $3,000, with some of New York’s top real estate agents. Contact Clever today to find out how much you can save!

👋 Next Steps: Find an agent!

Clever can connect you with top local listing agents who work for pre-negotiated low rates: just $3,000 for any home under $350,000, or 1% for more expensive homes.

You can interview your Clever agent matches, get free pricing estimates, and compare marketing plans — all with no strings attached.

Ready to learn more? Submit the form below for a free phone consultation with one of our Licensed Concierges.

Methodology

We gathered our commission rate data from a survey of 630 of our partner agents. The survey asked about standard local rates for both listing and buying agents.

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 2022
  • Sale prices and sale-to-list ratios: Based on Redfin data as of May 2022 (unless specified otherwise)
  • Months of inventory: Based on Realtor.com data as of August 2022

Additional resources for New York home sellers

Better real estate agents at a better rate

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If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.