Don't Ditch Your Broker

In today’s market, some buyers have been ditching their brokers with the hope of striking a better deal by cutting out their agent’s commission. Don’t be fooled by what may seem to be an easy way to make a buck—this underhanded move will most likely cost you.
Some buyers also believe that the seller will give them a discount if they don't use a buyers' broker, since that means paying one commission, not two.

"People think they're going to get a better deal if they don't use a buyers' broker," said Kate Meckler, a senior vice president at Sotheby's International Realty, noting that buyers seem more concerned with that than usual in a climate where they are "thinking out every dollar and where it's going in the deal."

In reality, the commission for both the seller’s broker and the buyer’s broker is determined in advance, and the seller generally pays the same percentage regardless of whether it is split between two brokers.

Although there are some cases where the listing agent agrees to take a slightly smaller commission to help a deal go through, buyers' brokers are often more effective at negotiating the best possible price for a client, Meckler said. And new developments are especially keen to work with buyers' brokers in the current climate, where they get less walk-in traffic, since buyers' brokers bring in potential purchasers.

So stick with Alfred. Alfred has exclusive luxury properties and staff whose mission it is to find the top properties that exceed our clients' expectations. Our brokers are NYC Manhattan real estate experts. Whether you are searching for furnished apartments, condos, co-ops, lofts, townhouses, brownstones, luxury living, new flats or developments, we have professionals available to meet your housing needs. Our agents are very accommodating and offer service in English, Spanish, and Portuguese. We will keep you up to date on co-op and condo apartments in Manhattan and recommend the best course of action for your New York City Real Estate.