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NY Avg Real Estate Commission Rate in Nassau County, Suffolk County, New York

Nassau County is a suburban county comprising much of western Long Island in the U.S. state of New York. At the 2010 census, the county's population was 1,339,532, estimated to have increased to 1,369,514 in 2017. The county seat is in the Village of Garden City within the boundaries of the Mineola 11501 zip code.

Nassau County is directly east of New York City limits and therefore also within the New York metropolitan area. The county is one of the four counties that occupy Long Island, together with Suffolk County to its immediate east and Queens and Kings counties to the west, which correspond, respectively, to the New York City boroughs of Queens and Brooklyn. Two cities, three towns, 64 incorporated villages, and more than 60 unincorporated hamlets are located within the county. There are 56 public school districts within the county. Post office districts and school districts use the same names as a city, hamlet, or village within them, but each sets the boundaries independently.

In 2012, Forbes magazine, in an article based on the U.S. Census Bureau's American Community Survey, reported Nassau County was one of the highest income counties in the United States and the most affluent in the state of New York, comprising four of the nation's top ten towns by median income. It also ranks as the most expensive county in America. Nassau County has a designated police department, fire commission, and elected executive and legislative bodies. Nassau County high school students, as do students from nearby Westchester County, often feature prominently as winners of the Intel International Science and Engineering Fair and similar STEM-based academic endeavors.

 

Nassau County, Suffold County, New York Average Real Estate Agent Commission Rate Fees:

A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Nassau County-Suffolk County, New York. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26% *

In Nassau County-Suffolk County, New York, you will find the following real estate commissions charged*:

Typical Asking Commission: 6.0%

Competitive Commission: 5.0%-5.5%%

Very Competitive Commission: 4.5%-4.99%

The median existing single-family home price in the Northeast rose 3.2%, to $282,300, in the second quarter of 2017 compared to the the second quarter of 2016.  Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:

In the State of New York, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Albany-Schenectady-Troy $210,300 3.70%
Binghamton $109,000 3.30%
Buffalo-Cheektowaga-Niagrara Falls $140,000 8.00%
Dutchess County-Putnam County $274,700 3.80%
Elmira $111,600 -3.50%
Glenn Falls $162,800 -6.20%
Kingston $201,700 -0.50%
Nassau County-Suffolk County $466,700 5.40%
New York-Jersey City-White Plains, NY-NJ $384,500 4.90%
New York-Newark-Jersey City, NY-NJ-PA $414,000 4.70%
Rochester $137,900 2.50%
Syracuse $129,200 0.60%
 
IMPORTANT

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home.  In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent.  Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”.  This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client.  This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

 

AGENTS ARE READY TO BID THEIR COMMISSION RATE TO GET YOUR LISTING

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business.  These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm.  This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in New York.

 

ARE YOU BUYING IN THE SAME AREA, TOO?

Sellers who are also buying a home in the same local market have a volume discount advantage.  ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home.  Be sure to check the box that you are also buying a home locally to receive these better rates.

 

ARE YOU READY TO RECEIVE COMPETITIVE COMMISSION RATE BIDS?

Click here to see your savings in just 24 hours…

 

DEMOGRAPHICS:

As of the 2010 Census, there were 1,339,532 people, 448,528 households, and 340,523 families residing in the county. The population of Nassau County was estimated by the U.S. Census to have increased by 2.2% to 1,369,514 in 2017, representing 6.9% of the Census-estimated New York State population of 19,849,399 and 17.4% of the Census-estimated Long Island population of 7,869,820. The population density in 2010 was 4,700 people per square mile (1,815/km²). There were 468,346 housing units at an average density of 1,598 per square mile (617/km²). The racial makeup of the county was 73.0% White (65.5% non-Hispanic White), 11.1% African American, 0.2% Native American, 7.6% Asian (3.0% Indian, 1.8% Chinese, 1.0% Korean, 0.7% Filipino, 0.1% Japanese, 0.1% Vietnamese, 0.9% Other Asian), 0.03% Pacific Islander, 5.6% from other races, and 2.4% from two or more races. Hispanic or Latino of any race were 14.6% of the population.

In 2010, there were 340,523 family households, out of which 33.5% had children under the age of 18 living with them, 60.0% were married couples living together, 11.7% had a female householder with no husband present, and 24.1% were non-families. 20.1% of all households were made up of individuals and 15.1% had someone living alone who was 65 years of age or older. The average household size was 2.94 and the average family size was 3.38. The population was 23.3% under the age of 18, and 18.7% who were 62 years of age or older. The median age was 41.1 years. For every 100 females, there were 93.7 males. For every 100 females age 18 and over, there were 90.4 males.

The median income for a household in the county in 2000 was $72,030, and the median income for a family was $81,246 (these figures had risen to $87,658 and $101,661 respectively according to a 2007 estimate). Males had a median income of $52,340 versus $37,446 for females. The per capita income for the county was $32,151. About 3.50% of families and 5.20% of the population were below the poverty line, including 5.80% of those under age 18 and 5.60% of those age 65 or over.

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Nassau County - New York