86% of buyers purchased their home through a real estate agent or broker. Working with a real estate broker in NYC can help you sell your property in this slow-moving market.
What are Real Estate Brokers?
Real estate brokers and real estate agents are used interchangeably, but they vastly differ in definition. A real estate broker is a licensed real estate professional in their own right who’s also a licensed real estate agent.
The primary difference between a real estate broker and an agent is that a broker can start their firm and hire real estate agents to work with.
To become a licensed real estate broker in New York, a real estate agent must complete a 75-hour & 45-hour New York Real Estate Commission-approved pre-licensing course and pass the New York Real Estate Broker Examination with a 70% score or higher, etc.
While real estate agents in NYC focus on the sales aspect of the transaction, brokers specialize in the technical aspects, such as drafting purchase agreements, contracts, escrow arrangements, etc.
Average Real Estate Broker Commission in NYC
The average real estate broker commission in New York City is 5% to 6%.
This commission is split evenly between the listing and the buyer’s agent. Let’s look at the below example to understand how the average real estate broker commission is divided:
- 6% Real Estate Commission
- 3% Listing Agent Commission
- 1.5% Listing Agent Commission
- 1.5% Listing Broker Commission
- 3% Buyer’s Agent Commission
- 1.5% Buyer’s Agent Commission
- 1.5% Buyer’s Broker Commission
- 3% Listing Agent Commission
So, effectively, the average real estate commission in NYC is lesser because it is split between the buyer’s agent and the broker. It is possible that the buyer’s agent may be a licensed real estate broker. In that case, they earn the full 2.5% to 3% broker commission.
» Average Real Estate Commission in New York: Find out the real estate commission of NYC!
Reviews: Top Real Estate Brokers in NYC
1. Daniel Demers: Best Flat Fee Real Estate Broker
BEST OVERALL
Experience: 13+ years
5.0/5.0
(48 reviews)
About Daniel Demers: Daniel (Dan) Demers is Houzeo’s partner listing broker, and has 13+ years of experience practicing the flat-fee MLS model. Past sellers appreciate Demer’s responsiveness, politeness, honesty, and the virtual full-service real estate agent services offered at a low commission.
Sell Your Home Services LLC: Sell Your Home Services, Dan Demers’ real estate company offers MLS listing packages for a one-time, flat rate.
For Home Sellers
- Flat Fee Listing: Through Sell Your Home Services, Daniel Demers offers a flat fee MLS listing package, which helps sellers list their house on the MLS for a flat fee and save thousands of dollars in agent commissions.
- Customer Support: Known for their excellent customer service, a quarter of Sell Your Home Services business comes from client referrals.
- Full Automation: Powered by Houzeo.com, Daniel Demers can help you manage your listing 100% online. With Houzeo Showings, you can deal with showing appointments online. you can even use Houzeo Offers for viewing and comparing offers, and Houzeo’s Settlement Agent Platform for closing.
For Home Buyers
- Schedule Showings: Home buyers can schedule showings on Sell Your Home Services’ website by adding the property address and their contact information.
- Submit an Offer: Buyers can even make an offer to the seller on Houzeo.com, provided the seller has listed their property via Dan Demers on Houzeo.
- Closing Cost Calculator: Buyers can even use Houzeo’s Closing Cost Calculator to estimate their expenses for purchasing their home.
Our Take: We recommend Daniel J. Demers for his expertise in multiple real estate markets across the country and the easy listing management services offered by him through Houzeo.com’s technology.
Daniel Demers Realtor: Check out the services offered by Dan Demers via Houzeo.com
- Dan Demers Realtor is the founder of Sell Your Home Services which offers MLS listing packages for a one-time, flat rate.
- He is currently a licensed broker in 10 states.
- He has sold 935 properties in the last 12 months.
Daniel Demers, Sell Your Home Services: Daniel Demers has a 5-star rating on Houzeo.
Dan Demers offers his services in 10 states and covers the following MLS’:
Alabama
- Birmingham MLS (GALMLS)-AL
- Mobile County MLS-AL
- Montgomery Area AOR MLS-AL
Valley MLS-AL
Arizona
- Arizona Regional MLS-AZ
- Western Arizona Realtor Data Exchange WARDEX MLS-AZ
Delaware
- BRIGHT MLS-DE
Georgia
- Georgia (GA) MLS-GA
- Greater Augusta MLS (GAAR)
- Greater Chattanooga AOR MLS-GA
- Northeast Georgia MLS-GA
Maine
- MREIS IDX MLS-ME
New York
- Greater Capital Association of Realtors (Global) MLS-NY
- New York State Alliance of MLS’s (NYSAMLS)
- OneKey MLS-NY
North Carolina
- Canopy MLS-NC
- Fayetteville MLS-NC (LPRMLS – Longleaf Pine Realtors MLS)
- Northeast Georgia MLS-NC
Pennsylvania
- BRIGHT MLS-PA
- Lehigh Valley MLS-PA
- Pocono MLS-PA
- West Penn MLS-PA
South Carolina
- Canopy MLS-SC
- Charleston Trident MLS-SC
- Coastal Carolina AOR MLS-SC
- Consolidated MLS-SC
- Greenville MLS-SC
- Pee Dee MLS-SC
- Western Upstate MLS-SC
- Western Upstate MLS-SC
Tennessee
- Greater Chattanooga AOR MLS-TN
- Knoxville (KAARMLS)-TN
- Memphis MLS (MAARMLS)-TN
- Nashville (RealTracs Mid) MLS-TN
- 💡 FACT: You don’t need to be a real estate broker to access Houzeo technology, and sell FSBO with Houzeo.com!
2. Serena Boardman: Best Full-Service Luxury Broker
BEST FOR CONDOS AND TOWNHOUSE MARKETS
Experience: 21 years
3.7/5.0
(3 review)Serena Boardman is an elite record-setting agent/broker in America’s luxury real estate market. She specializes in condominium and townhouse markets.
For Home Sellers
- Far-Reaching Exposure: Through her local expertise and vast global network, Serena’s listings attain maximum exposure.
For Home Buyers
- Off-market Property Access: Serena has access to many off-market properties along with upcoming listings.
👉 Our Take: We recommend Serena Boardman for her expertise in listing management services as well as dealing in luxury properties.
Transaction Sides: Serena has crossed over $2.6 billion in luxury home sales. In addition to major sales, Serena’s time is dedicated to selling properties in a variety of price ranges like $5M to $15M range
Achievements:
- Serena Boardman is ranked #1 agent in America by the Wall Street Journal.
- Three times record holder for doing the most expensive sales in Manhattan.
- Ranked #1 Agent in Manhattan by The Real Deal.
In our research, we found no red flags with Serena Boardman. She covers condominium and townhouse markets, on the Upper East Side, Upper West Side, and Downtown New York City.
Top Real Estate Agents: In case Serena doesn’t cover your zip code, you can consider other local agents in your region.
Serena Boardman has 3.7 stars ratings on Google.
3. Prevu: Best Discount Broker Firm
⛔ RESTRICTED COVERAGE
Prevu is a full-service low commission brokerage based in New York that aims to change the old-school ways of the real estate market.
Prevu for Home Sellers
- Listing Fee: Prevu charges a lower commission of 1.5% of the sale price for selling a house.
- Package Fee: Prevu’s 1.5% full-service package includes various features like home valuation, 3D virtual tours, open houses, professional photographs, listing on MLS, and social ad campaigns.
- Closing Costs Calculator: Sellers in NYC can estimate closing costs using Prevu’s Closing Costs Calculator.
Prevu for Home Buyers
- Smart Buyer’s Platform: Prevu’s technology allows buyers to search for homes, communicate with their agents online, schedule showings, and make an offer.
- Smart Buyer Commission Rebate: Buyers who purchase a house with Prevu get two-thirds of the commission that Prevu receives from the seller.
- Mortgage Calculator & Closing Costs Calculator: Prevu’s Mortgage Calculator allows buyers to get an estimate of their monthly mortgage payments. The Closing Costs Calculator is only available for buyers in NYC.
👉 Our Take: Though Prevu’s listing price is lesser than traditional realtor commission, it is still higher than other low-commission real estate companies.
Prevu Reviews: Read our review of Prevu Real Estate & decide if it’s a good choice for you
- Qualified agents at low-commission
- Buyer rebate
- The listing fee can be variable as per the location, which means limited savings.
- Inconsistent and limited agent matching
- Compromise on quality because of less number of agents
- Limited coverage
Best Low-Commission Real Estate Agents: Check out the best cheap brokers in New York
Prevu has an average rating of 5 out of 5 on Google.
» Prevu Review: Find out if Prevu TRULY a 5-star real estate broker firm
👎 Limited Coverage: Prevu Real Estate serves 6 states only- New York, Massachusetts, Connecticut, California, Pennsylvania, and Washington.
Difference between a Broker, REALTOR®, and Real Estate Agent
A real estate broker is a licensed real estate agent with additional training and licenses to employ other real estate agents in their brokerage firms. In contrast, a real estate agent is only licensed to assist in a real estate transaction and cannot hire other agents or open a brokerage firm.
Realtors are real estate professionals who are members of the National Association of REALTORS®(NAR), the largest trade association in the U.S. Bound by the NAR’s Code of Ethics, Realtors promise to be transparent, honest and uphold their client’s best interests in all transactions.
There are thousands of licensed real estate agents and brokers across the nation, with varying levels of service quality, so it is ideal to hire a local real estate broker when selling a house for the first time.
Selling a house by owner may seem daunting, but high-tech FSBO sites like Houzeo.com have intuitively digitized the contingencies like listing paperwork and made the process seamless.
The best part – you don’t pay the traditional 6% real estate commission! You can use Houzeo’s 100% online platform to list your house, manage home showings, and counteroffers for a flat fee.
💲Save 3% Listing Agent Commission
Sell your home hassle-free with Houzeo’s technology for a $349* Flat Fee
START YOUR MLS LISTING NOW
How to Find a Real Estate Broker in NYC?
By being methodical about it.
Consider the basics of real estate transactions and evaluate costs, time, and efforts.
National brands offer nationwide coverage, but service quality may not be guaranteed in each office. You will be yet another lead in the marketing funnel while a real estate agent is assigned to your listing.
In contrast, choosing a local real estate broker could save time and effort substantially. Real estate commissions, however, remain questionable and depend on the work done by the real estate broker.
If you are radical enough to adventure selling a house for sale by owner, then flat fee MLS listing services like Houzeo are a great way to save time, and the 100% online platform makes the comprehensive listing paperwork seamless.
» How to Sell a House By Owner in New York: Check out how to sell your house as an owner in New York & save thousands in commissions!
Reviews: Best Real Estate Companies & Brokerages in New York City
1. Houzeo.com: Best Virtual-Service Flat Fee Brokers
🔥 BEST OVERALL
Listing Fee: $349 Flat Fee
4.9/5
(4001 reviews)Why Houzeo is #1: Houzeo is an online tech company that offers real estate solutions. It provides an unbeatable combination of maximum savings, cutting-edge technology, and 5-star customer support.
Houzeo for Homesellers
- Affordable Flat Fee: Houzeo’s plans are typically a small flat fee. This will save you thousands. If your buyer is unrepresented, you also save the buyer agent commission.
- Listings on MLS: Listings get syndicated to the MLS, Zillow, Realtor.com, Redfin, Trulia, and hundreds of other websites. Houzeo also has nifty social media sharing tools. No other platform gives you this much exposure.
- Fully Virtual Service: Houzeo is 100% online. Listing is easy and changes are fast. So you can focus on what is most important – your sale.
Houzeo for Homebuyers
- Access to Listings without Agents: Houzeo lets buyers get access to all the nearby listings on MLS without working with an agent.
- Closing Costs Calculator: Houzeo’s unique Closing Costs Calculator lets buyers get an accurate final cost at the end of the buying process.
👉 Our Take: Houzeo.com is our top pick because it delivers an unbeatable combination of savings, tech features, and service of any flat fee MLS listing service website we’ve reviewed.
» Houzeo Reviews: Houzeo is 100% online. You can finish the listing formalities in less than 60 mins.
- Near Nationwide Coverage: Houzeo covers 47 states + DC.
- No Listing Agent Commission: With Houzeo, you only pay a small flat fee to get access to the MLS and all the Houzeo tech
- 100% online: Easy listing, fast changes, online showings, and online offers
- Max Exposure: Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other real estate sites
- Fast Listing: Rush listing option gets you listed within a business day with Houzeo Concierge. This is best to sell your house fast.
- Real Estate On the Go: Houzeo Mobile App mimics most functionality of the Houzeo web platform, including Offers and Showings
- 5-Star Customer Service: Superb support that minimizes Houzeo complaints
- No Hidden Fees: There are no Houzeo hidden fees
» Is Houzeo Legit: Learn more about Houzeo.com’s locations and services
Houzeo has a rating of 4.9 out of 5 on Google & Trustpilot.
Houzeo is available nationwide.
2. Corcoran Group: Best Brokerage in NYC
Best for Marketing Your House
Top Real Estate Company in Annual Sales
3.8/5 (823 votes)🏡About: For 50 years The Corcoran human-first approach to the real estate business has been the foundation on which they built one of the industry’s most luminous brands.
For Home Sellers:
- Trusted Agents: Corcoran has more than 3,000 of the industry’s best and brightest agents dedicated to providing you with the best service from starting the conversation to sealing the deal.
- Greater Exposure: Corcoran agents are backed by one of the real estate industry’s most experienced and effective marketing teams, whose innovative campaigns and sophisticated advertising programs—including the revolutionary Social AI Engine— ensure the broadest exposure for their clients’ homes.
For Home Buyers:
- Sales Expertise: Agents are acknowledged experts supported with the tools and the technologies to serve their clients in buying the perfect homes.
👉 Our Take: Through indelible print and television campaigns, a vibrant and inclusive social media presence, and a lot of smart storytelling, they have managed to capture the confidence – of generations of buyers, sellers, and renters.
» Brokers and Brokerages: Top Brokers & Brokerages in New York
📲 Social Media: Huge Social Media presence on Instagram, Twitter, YouTube, and Facebook
🏅 Recognition: Ethisphere Institute’s list of the World’s Most Ethical Companies for eight straight years
🤝 Affiliate Program: In 2018, Corcoran launched an affiliate program that will bring its respected name and peerless values to world-class firms in exceptional real estate markets across the country and around the world.
💻 Agent Studio: Corcoran opened an Agent Studio in Manhattan’s Gramercy neighborhood, enriching the agent experience with a catalog of free classes on all aspects of the real estate business, technology, marketing, social media, and personal growth, in 2017
The Corcoran Group has a rating of 3.9/5 (823 votes) on Facebook
The Corcoran Group has 36 offices that serve in the state of New York.
3. Get More Offers: Local Discount Brokerage
GOOD EXPOSURE
Listing Fee: Starts at $99Get More Offers is a real estate software management system with a discount real estate broker e-commerce website. They offer three plans:
- FSBO Plan – ($99 upfront): 1-year listing on MyStateMLS (optional) and major real estate sites like Realtor.com, Zillow, etc.
- Solo Plan- ($299 upfront): Ideal for experienced sellers, includes expert transaction management and professional photography.
- Pro Plan – ($699 upfront): Includes full-service representation, expert pricing consultation, and professional photography.
👉 Our Take: Some plans can be counted as budget-friendly options, but they lack hand-holding support. However, they might be better for experienced sellers than for first-time home sellers.
Based on our research, the benefits of Get More Offers are:
- Fast Listing Entry: They have same-day listing to quickly get on the market.
- Control for Sellers: Self-representation options let sellers manage their own listings.
- 100% Online: The paperless system makes the process efficient and hassle-free.
- Market Exposure: Your home gets listed on the local MLS and displayed on all major real estate websites like Realtor.com, Zillow, Trulia, etc.
In our research, we found some red flags of Get More Offers, that could make your experience less satisfactory.
- Cancellation Policy: The PRO plan requires a 60-day cancellation notice, which might be inconvenient for those needing more flexibility.
- Limited Reviews: Even though Get More Offers has been here since 2005, it has no credible reviews.
- Limited Service Area: They are only available in New York and Florida.
No credible reviews were found.
How to Choose the Right Real Estate Brokerage in NYC?
For Home Sellers
Approximately 89 percent of homeowners use the services of a real estate agent or broker when buying or selling a home, making the selection of the most qualified agent critical to a successful real estate transaction.
| Parameters | Description |
|---|---|
| 1. Inquire | When choosing a real estate broker or agent, inquire about their knowledge of the local market and your property type. |
| 2. Marketing strategy | Question the marketing strategy, methods of communication, references, and connections a broker has with other real estate professionals before making a decision. |
| 3. Full-time Professional | Make certain to hire a professional who is available on a full-time basis. |
| 4. Guidance | Ideally, a realtor will be able to guide you through the process of searching for and purchasing a house. |
| 5. Local Realtor | Local realtors who work for themselves should not be dismissed. They may have more intimate knowledge of a community, than a large real estate company |
In addition to the questions listed above, and the trends in the real estate market, there are several other factors to consider when hiring a real estate agent or brokerage.
1. Availability of Real Estate Agents or Brokerages: While competent part-time agents sell properties, you must hire someone who can show your home at a convenient time.
» Top Real Estate Agents: Check out the top real estate agents to sell your home fast.
2. Brokers That Offer Suggestions for Improvements: Pools, screened-in porches, and other desirable features are known to attract buyers to the area. They will advise on which rooms or features to emphasize or de-emphasize.
Similarly, ask the agent if there are any improvements you could make to the house to make it more desirable. The best agents will often make these suggestions without your input.
» Home Staging: Check out the the best ways to stage your New York City apartment
3. Proximity of the Real Estate Brokerage: Hire or retain a local expert. These agents will also be aware of the area’s typical selling and listing prices.
Other than that, ask a local brokerage or your friends and family if they know anyone who has sold many homes or businesses there. Also other ideas include looking through local real estate publications to see which agents have the most listings.
» Best Real Estate Brokerages in New York: Check out the best local brokerages in New York City
For Home Buyers
In contrast, an inexperienced agent may make things more difficult for you (and your wallet) than they need to be during the home-buying process.
A specific set of abilities distinguishes the best real estate agents from the rest when it comes time to buy a house. Is there a list of these abilities? Let’s find out.
| Point to Remember | Description |
|---|---|
| 1. Good Communication | Look for an agent who is a good communicator and can answer all of your questions about the home-buying process. |
| 2. Reliable Experience | When interviewing real estate agents, be sure to not only inquire about the length of time they have been in the business of buying and selling homes, but also inquire about their specific experience. |
| 3. Strong Local Market Knowledge | Each market is unique. In order to navigate the nuances of your local market, you'll need a real estate agent who is familiar with local market trends and patterns. Choose a real estate agent who has a track record of quickly placing buyers in homes (and getting them a great deal, too). |
| 4. Positive Reviews | Online reviews are a great resource when choosing a realtor. Read as many reviews as you can before choosing a real estate agent, and look for past clients who have only positive things to say about their experiences. |
| 5. Personal Rapport | Ultimately, you want a realtor you like. You'll be spending a lot of time together, so choose someone you enjoy being around and who truly understands your needs. |
Final Word
Selling or buying a house is a cherished experience in every individual’s life. Choosing an inefficient brokerage and, in turn, the broker can mar your overall experience and can cause grave financial losses.
Also, you will have to shell out a 6% agent commission while selling your house. But this still would not guarantee good customer service.
To save yourself from this problem, you can choose Houzeo.
| 💻 Houzeo’s tech-centric broker partners charge just the upfront flat fee, and no commission for all DIY plans (except in minimum service states) |
| 👩🏻💻 Offers typically are routed to the brokers. Houzeo’s Offers Platform allows your broker to present the offer to you instantly |
| 💰 Houzeo Offers Platform allows sellers to Counter an Offer and Request Highest & Best Offers Online |
| 📱 Houzeo Showings is available both on Houzeo’s website and on the Houzeo mobile app (learn more) |
| 🕛 Available only on weekdays up to 1 pm and only in select MLS’. After you’ve purchased the Gold or Platinum plans, email support@houzeo.com with the subject line “Expedited Listing Request: “. Service is free for Gold and Platinum plan customers. |
Find Your New Home in New York City With Houzeo
With thousands of property listings, Houzeo.com is one of the biggest property listing sites in the US. Find condos, townhouses, co-ops, and other types of homes for sale in New York City on Houzeo.
» Need More Clarity? Read these exclusive Houzeo reviews and learn why the platform is the best in America’s competitive housing market.
Eager to Know How Houzeo Works?
We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best For Sale By Owner websites in the U.S.
» NEED MORE CLARITY? Read these exclusive Houzeo reviews and learn why it is one of the best FSBO sites in America.
Frequently Asked Questions
What is a broker in NYC, New York?
To become a licensed real estate broker in New York, a real estate agent must complete a 75-hour & 45-hour New York Real Estate Commission-approved pre-licensing course and pass the New York Real Estate Broker Examination with a 70% score or higher, etc.
How much do real estate brokers make in NYC, New York?
Real estate brokers in New York City earn about a 1.5% commission for every sale.
What does a real estate broker do in NYC, New York?
Brokers in NYC, New York, are licensed real estate agents who can own and run their brokerages and hire real estate agents to work for their brokerage firms. They oversee their associates and make sure that their clients are getting the best possible service.
