What buyer broker fee is acceptable?

[72ndRoad]

Hello team

Can a 2% buyer broker fee attribute to a low number of inquiries even though the listing appears to be in top 5 on Zillow?

Thank you

[HauseitAdmin]

Great question! That is a distinct possibility, especially if your listing is in NYC. Where is your listing located may we ask (neighborhood is fine)?

Please see below for a great article on the topic. Essentially in NYC, our partner brokers have received pushback from buyers' agents at 2%. However, no complaints have ever been received at 2.5%, even though 3% is more common and preferred.

Good luck!

[72ndRoad]

The listing is in Queens, Forest hills

[HauseitAdmin]

That neighborhood is father out in eastern Queens, and is often Long Island MLS territory. Because brokers there will less likely be REBNY members, you will see less conformity in co-broking a standard 2.5% to 3% to buyers' agents. In fact, many listing agents will get away with co-broking less, or even nothing at all in eastern Queens!

The story of course is different in areas closer to Manhattan such as Long Island City, which is firmly REBNY territory, meaning co-brokes are fairly standard at 2.5% to 3%.

We've linked an interesting article about selling your own home in Queens, good luck!

[72ndRoad]

Thank you!