Can you sell without a broker in NYC? Legally yes. Practically, it depends, and the answer is no for most of the potential sellers. While you absolutely can sell without a New York City broker, there are many practical considerations to take into account.
Why Do You Need A Realtor To Sell A House In NYC?
An NYC realtor can charge you up to 2.5% to 3% of your selling price, with a similar amount going to the buyer’s agent (though that’s separately negotiable). But in return, they can take care of a lot of the legwork involved with the process. More importantly, they bring in their experience, expertise, and connections, which can be instrumental in selling your home in NYC at a good price.
A seller’s agent can list your home in many centralized listings that buyer’s agents use to see the right property for their clients. This gives you maximum exposure, something that’s difficult to achieve when selling without an agent. They can also help you set the right price because they have access to and can research comparable properties (similar properties recently sold near you) more effectively. They also understand the market dynamics and how much the asking price can be set above or should be set below the price comparable properties fetched, based on the way the market is moving (buyer’s or seller’s).
They take care of listing the house and dealing with buyers’ agents and buyers, which can be time-consuming. They can also help you negotiate a fair price and the terms of the agreement.
If you can do all of this on your own, selling a home without a New York City broker is not only possible but might save you thousands of dollars. But if you can’t or you think that doing so won’t allow you to get the best price, then it’s a good idea to work with a realtor.
