What is the typical commission structure of residential real estate deals in New York City?

In New York City residential real estate deals, the seller typically pays 6% of the purchase price to his or her broker, which is split with the buyer’s broker if the buyer has a broker. On some listings, the commission may be 5% if the seller negotiates the lower rate with his or her listing broker. Buyers do not pay commissions or fees to their brokers.

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