Minimum Buyer Broker Fee NYC High Value Condo

[jdprofile]

I am thinking of listing my $4M condo in Manhattan FSBO or assisted FSBO. Is there any reason I can't offer a 0.5% buyers broker commission? Its still going to be a relatively large sum at ~$20k. If a broker chooses not to show his/her client my listing because they don't like the commission that's their prerogative obviously, but these days don't most buyers find apartments on their own anyhow then just tell their broker (free to hire - buyer pays anyway!) the ones they want to see? That would be an awkward conversation when a buyer says to his broker "hey take me to see this apartment i love it" and the broker has to say "no i won't get paid enough". Also, am I required to list the buyers broker commission offered up front on the MLS listing or can that come up later?

[lower_nyc]

I am thinking of listing my $4M condo in Manhattan FSBO or assisted FSBO. Is there any reason I can't offer a 0.5% buyers broker commission? Its still going to be a relatively large sum at ~$20k. If a broker chooses not to show his/her client my listing because they don't like the commission that's their prerogative obviously, but these days don't most buyers find apartments on their own anyhow then just tell their broker (free to hire - buyer pays anyway!) the ones they want to see? That would be an awkward conversation when a buyer says to his broker "hey take me to see this apartment i love it" and the broker has to say "no i won't get paid enough". Also, am I required to list the buyers broker commission offered up front on the MLS listing or can that come up later?

Properties in the 'luxury segment' in NYC (figure above ~$2m) have a buyer base which is predominantly represented by brokers. Would venture to say that at least 80% or 90% of the buyers looking at a ~$4m apartment are represented. These buyer agents have a lot of leverage when it comes to prioritizing listings for considering by their buyers, especially in this market which is currently very soft for the luxury segment (which has an oversupply right now).

There are loads of $4m condos in Manhattan which are just sitting on the market for 6 months to a year or more, even if they're offering a full 3% to a buyer agent.

With all of these considerations in mind, offering 0.5% does not sound like the best idea.

It would be a very different scenario if you were selling a $500k, pre-war condo in Park Slope with a private roof deck...