{"id":11088,"date":"2023-12-19T10:20:29","date_gmt":"2023-12-19T15:20:29","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=11088"},"modified":"2023-12-26T10:15:02","modified_gmt":"2023-12-26T15:15:02","slug":"nyc-buyers-agent-commission","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/nyc-buyers-agent-commission\/","title":{"rendered":"New RealtyHop Study Finds No Collusion Between Brokerages and REBNY"},"content":{"rendered":"<p><a href=\"https:\/\/therealdeal.com\/new-york\/2023\/11\/10\/nyc-brokerages-rebny-hit-with-copycat-antitrust-lawsuit\/\"><span style=\"font-weight: 400;\">A class-action lawsuit<\/span><\/a><span style=\"font-weight: 400;\"> filed in early November against the Real Estate Board of New York (REBNY) and 26 brokerages alleges brokers conspire to inflate broker commissions, taking advantage of inexperienced sellers. It argues that sellers using REBNY&#8217;s listing service, RLS, should not pay buyers&#8217; brokers 2.5% to 3% commissions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Contrary to the complaint, our analysis, based on over 20,000 for-sale listings created in the past 12 months, shows that buyer\u2019s agent commissions, in fact, serve as <\/span><span style=\"font-weight: 400;\">a strategic tool and that <\/span><span style=\"font-weight: 400;\">sellers, including first-time homeowners, are able to negotiate the commission based on price and property type.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Using listing data from REBNY RLS and OneKey MLS, the RealtyHop team found that:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Experienced, resource-rich sellers in prime areas like Manhattan often offer higher buyer\u2019s broker commissions, typically around 3.0%. This results in commissions upwards of $30K on median-priced properties over $1M. [<\/span><span style=\"font-weight: 400;\"><a href=\"#figure_3\">Figure 3<\/a><\/span><span style=\"font-weight: 400;\">]<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sellers in more affordable areas, like the Bronx and outer Queens and Brooklyn, usually negotiate lower commissions, around 2.0%. These sellers, often first-time participants in the market, demonstrate an acute budget consciousness. [<\/span><span style=\"font-weight: 400;\"><a href=\"#figure_1\">Figure 1<\/a><\/span><span style=\"font-weight: 400;\">]<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New developments tend to offer higher commission splits. For units built after 2020, the average commission is 2.49%, compared to 2.27% for properties built prior to 2020. [<\/span><span style=\"font-weight: 400;\"><a href=\"#figure_4\">Figure 4<\/a><\/span><span style=\"font-weight: 400;\">]<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A New York co-op tends to pay the full 3.0% cooperating broker commission, even though co-ops have a lower price point than nearby equivalent condos. The higher commission reflects the significant increase in work required for a broker to sell a co-op apartment. [<\/span><span style=\"font-weight: 400;\"><a href=\"#figure_5\">Figure 5<\/a><\/span><span style=\"font-weight: 400;\"> &amp; <\/span><span style=\"font-weight: 400;\"><a href=\"#figure_6\">Figure 6<\/a><\/span><span style=\"font-weight: 400;\">]<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Before we further discuss our findings, it\u2019s worth noting that this study focuses on <\/span><b>buyer\u2019s agent commissions<\/b><span style=\"font-weight: 400;\">, which equals half of the commonly known 6% real estate commission.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Real Estate Commission Data, Broken Down by Borough<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Figure 1 below shows the median and average commissions by borough. In Manhattan, the median cooperating commission is 3%, whereas in the other three boroughs, the commission splits are commonly below 3%. On average, Manhattan home sellers agree to pay 2.9% co-broke commission, or $76,979.63.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sellers near the lower end of the price spectrum pay lower commissions, particularly in the Bronx or outer Queens and Brooklyn. These sellers often only own one home and have never sold before, yet are budget conscious and clearly able to negotiate commissions down to 1.5% to 2.0% for the cooperating broker in the median case, with pricing below $400K and under $8K commission to the buyer\u2019s agent.\u00a0\u00a0<\/span><br \/>\n<a href=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough.png\" target=\"_blank\" rel=\"noopener\" name=\"figure_1\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11089 size-full\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough.png\" alt=\"\" width=\"2042\" height=\"906\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough.png 2042w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-300x133.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-1024x454.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-768x341.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-1536x681.png 1536w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-150x67.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-600x266.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-696x309.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-1392x618.png 1392w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-1068x474.png 1068w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-borough-1920x852.png 1920w\" sizes=\"auto, (max-width: 2042px) 100vw, 2042px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Figure 1<\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Commission Split by Property Type<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To better understand what determines buyer\u2019s agent commissions, we further broke down the data by property type. Figure 2 below highlights the median and average commission percentage by the following property types: condo, co-op, single-family home, multifamily, and townhouse.<\/span><\/p>\n<p><a href=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type.png\" target=\"_blank\" rel=\"noopener\" name=\"figure_2\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11090 size-full\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type.png\" alt=\"\" width=\"2042\" height=\"1010\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type.png 2042w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-300x148.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-1024x506.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-768x380.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-1536x760.png 1536w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-150x74.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-600x297.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-696x344.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-1392x689.png 1392w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-1068x528.png 1068w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-property-type-1920x950.png 1920w\" sizes=\"auto, (max-width: 2042px) 100vw, 2042px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Figure 2<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Single-family homes have the lowest average commission split of 1.7% among all property types. Condos, on average, have a higher commission split, which could be surprising to many, as co-ops generally require more work during the buying process. To answer this question, we have to factor in when a property was built and its location.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The Higher the Price, The Higher the Buyer\u2019s Agent Commission<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">By breaking down the data into price ranges based on the list price, we found that, generally, higher-end properties tend to offer a higher buyer\u2019s agent commission. For homes asking under $1M, the average commission is 2.19%. The split goes up to 2.57% for homes between $1.5M and $2M and 2.78% for homes over $2M.<\/span><br \/>\n<a href=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price.png\" target=\"_blank\" rel=\"noopener\" name=\"figure_3\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11091 size-full\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price.png\" alt=\"\" width=\"1562\" height=\"1000\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price.png 1562w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-300x192.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-1024x656.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-768x492.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-1536x983.png 1536w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-150x96.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-600x384.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-696x446.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-1392x891.png 1392w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-price-1068x684.png 1068w\" sizes=\"auto, (max-width: 1562px) 100vw, 1562px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Figure 3<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Is it just that wealthy home sellers don\u2019t care enough to negotiate? To answer this question, we further looked into when the property was built. Figure 4 demonstrates the median and average commission splits based on building age. Properties built after 2020 have an average buyer\u2019s agent commission of 2.49%, the highest of all. This indicates that in a healthy market like NYC\u2019s, most sellers successfully negotiate a lower than 3% cooperating commission. Those who pay the 3% split tend to be sponsors of new developments or luxury condos in prime neighborhoods in Manhattan and Brooklyn.<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built.png\" target=\"_blank\" rel=\"noopener\" name=\"figure_4\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11092 size-full\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built.png\" alt=\"\" width=\"2042\" height=\"906\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built.png 2042w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-300x133.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-1024x454.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-768x341.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-1536x681.png 1536w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-150x67.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-600x266.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-696x309.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-1392x618.png 1392w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-1068x474.png 1068w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/nyc-commission-by-year-built-1920x852.png 1920w\" sizes=\"auto, (max-width: 2042px) 100vw, 2042px\" \/><\/a><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Figure 4<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Looking at the data, the answer is clear: higher priced listings tend to offer higher commissions, despite the sellers often having more financial resources and knowledge and many more brokers willing to compete for the deal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This finding directly contradicts the complaint against REBNY and the other 26 brokerages, which asserts that brokers and agents collude to harm everyday, unsophisticated homeowners. The market, in fact, functions as designed, and more budget-conscious sellers can successfully negotiate a lower commission and, therefore, a lower buyer\u2019s agent fee. It\u2019s the higher-end sellers that are willing to pay the 3% commission to buyer\u2019s agents.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Co-Ops Tend to Offer Higher Cooperating Broker Commissions<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There is one notable exception to the relationship between price and commissions: a New York co-op tends to pay the full 3.0% cooperating broker commission, even though co-ops have a lower price point than nearby equivalent condos. Figures 5 and 6 further illustrate this trend using listing data in the Bronx and the <\/span><a href=\"https:\/\/www.realtyhop.com\/for-sale\/upper-east-side-new-york-ny\"><span style=\"font-weight: 400;\">Upper East Side<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><br \/>\n<a href=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type.png\" target=\"_blank\" rel=\"noopener\" name=\"figure_5\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11093 size-full\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type.png\" alt=\"\" width=\"2042\" height=\"982\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type.png 2042w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-300x144.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-1024x492.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-768x369.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-1536x739.png 1536w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-150x72.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-600x289.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-696x335.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-1392x669.png 1392w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-1068x514.png 1068w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/bronx-commission-by-property-type-1920x923.png 1920w\" sizes=\"auto, (max-width: 2042px) 100vw, 2042px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Figure 5<\/span><\/span><\/p>\n<p><a href=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type.png\" target=\"_blank\" rel=\"noopener\" name=\"figure_6\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11094 size-full\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type.png\" alt=\"\" width=\"2042\" height=\"982\" srcset=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type.png 2042w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-300x144.png 300w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-1024x492.png 1024w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-768x369.png 768w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-1536x739.png 1536w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-150x72.png 150w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-600x289.png 600w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-696x335.png 696w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-1392x669.png 1392w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-1068x514.png 1068w, https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2023\/12\/ues-commission-by-property-type-1920x923.png 1920w\" sizes=\"auto, (max-width: 2042px) 100vw, 2042px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Figure 6<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The higher commission reflects the significant increase in work required for a broker to sell a co-op apartment. A buyer agent must prepare the board packet, risk a co-op board rejection, navigate a more difficult financing application, and ultimately delay receiving payment due to longer closing times. In short, the brokers refuse to accept less commission for significantly more work, consistent with a healthy, functioning negotiation process between sellers, listing agents, and buyer agents.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Conclusion<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Our analysis of the REBNY RLS and OneKey MLS data shows no collusion or monopolistic price-fixing practices between the brokerages or trade organizations that facilitate listing sharing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The complaint claims that \u201cthis inflexible commission practice has become so ingrained in the system that people have either accepted its unfairness out of deference to tradition or do not understand the nature and economic implications of the commission fee.\u201d In reality, every deal is a negotiation between the parties involved. The ability to advertise cooperating commissions via the RLS actually serves the seller as an effective marketing boost, allowing for more competition and favorable offers to help sell the property, not the result of malicious practices or information asymmetry.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Methodology<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This report analyzes over 20,000 for-sale listings created between November 2022 and 2023 via the <a href=\"https:\/\/www.rebny.com\/rls\/\">REBNY RLS<\/a> and <a href=\"https:\/\/www.onekeymlsny.com\/\">OneKey MLS<\/a>. Given the MLS coverage and the significant differences between Staten Island and the rest of the four boroughs, Richmond County is excluded from this report. The majority of the listing data comes from RLS.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To find out underlying commission trends, we grouped listings by property type, price point, year built, and location. For more information, please email <\/span><a href=\"mailto:press@realtyhop.com\"><span style=\"font-weight: 400;\">press@realtyhop.com<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A class-action lawsuit filed in early November against the Real Estate Board of New York (REBNY) and 26 brokerages alleges brokers conspire to inflate broker commissions, taking advantage of inexperienced sellers. It argues that sellers using REBNY&#8217;s listing service, RLS, should not pay buyers&#8217; brokers 2.5% to 3% commissions. Contrary to the complaint, our analysis, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":11117,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[2239,3],"tags":[],"class_list":["post-11088","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-market-trends-and-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New RealtyHop Study Finds No Collusion Between Brokerages and REBNY - RealtyHop Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtyhop.com\/blog\/nyc-buyers-agent-commission\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New RealtyHop Study Finds No Collusion Between Brokerages and REBNY - RealtyHop Blog\" \/>\n<meta property=\"og:description\" content=\"A class-action lawsuit filed in early November against the Real Estate Board of New York (REBNY) and 26 brokerages alleges brokers conspire to inflate broker commissions, taking advantage of inexperienced sellers. It argues that sellers using REBNY&#8217;s listing service, RLS, should not pay buyers&#8217; brokers 2.5% to 3% commissions. 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