By Hillel Fried, Licensed Associate Real Estate Broker (NY license 10301213249), founder of The Hillel Team at Compass. Updated November 2026.
Quick answer
A buyer's agent commission is the fee paid to the agent who represents you, the buyer, in a purchase. It can be a flat amount or a percentage of the price, and it's written into the agreement you sign with your agent.
There's no standard number in New York.
The National Association of Realtors makes every buyer agreement say so in plain words: "broker commissions are not set by law and are fully negotiable." The agreement also has to spell out the exact amount or rate, or a formula that gets you to one. Open-ended isn't allowed.
So how much? Whatever you and your agent agree to in writing, before you tour a single apartment. If an agent can't give you a number at the first meeting, ask again before you sign anything.
Since August 2024, the National Association of Realtors has required five things in every written buyer agreement. Here they are, and what each one means when you're the one signing.
The agreement must | What it means for you |
|---|---|
State the amount or rate of your agent's pay, from any source | You see the number before you tour |
Make that amount objectively clear, not open-ended | "Whatever the seller offers" doesn't count |
Say your agent can't be paid more than that, from anyone | A bigger offer from the seller doesn't raise your agent's fee |
Say that commissions aren't set by law and are fully negotiable | You can ask for a different number |
Include anything else the law requires | New York's own required terms still apply |
The seller, you, or a mix of the two.
The big shift came on 1 January 2024. Since then, the Real Estate Board of New York (REBNY) has required any payment to your agent to come straight from the seller. The listing broker no longer offers it or pays it.
And if the seller offers nothing? REBNY's rules let your agent negotiate the fee with you instead.
Situation | Who pays your agent |
|---|---|
Seller agrees to pay the full fee | Seller |
Seller agrees to pay part of the fee | Seller pays that part; you pay the rest if your agreement says so |
Seller offers nothing | You, as your agreement sets out |
You ask the seller to pay as part of your offer, and they accept | Seller |
Rental apartment, broker hired by the landlord | Landlord (FARE Act). You can't be charged |
Short version: in a purchase, the seller's offer decides who pays. In a rental, it comes down to who hired the broker.
Date | Change | Source |
|---|---|---|
1 Jan 2024 | Sellers pay the buyer's agent directly. Listing brokers stop making the offer | REBNY, Decoupling Commissions FAQ, Oct 2023 |
17 Aug 2024 | A written buyer agreement is required before touring a home, in person or by live video | National Association of Realtors, Written Buyer Agreements 101 |
11 Jun 2025 | Rentals: landlords and their agents can no longer charge tenants for a broker | NYC Department of Consumer and Worker Protection, FARE Act FAQ |
1 Aug 2025 | REBNY removes all compensation fields from its listing service | REBNY, RLS Update, May 2025 |
If you last bought before 2024, this is the part that will feel new. The listing broker used to make the offer to your agent. Now the seller makes it, and your own agent's fee is agreed with you up front, in writing.
Sometimes. If the seller covers your agent's full fee, you pay nothing toward it. If the seller covers part of it, or none, your buyer agreement decides what you owe. That's why it's the first thing you sign.
At The Hillel Team, we set out the fee and who pays it in the buyer agreement at our first meeting, before any showing. You'll know the number long before closing day.
Before you sign, it's fair to ask:
A good agent answers all five on the spot.
We earn the fee in three places: the negotiation, the paperwork, and the board or condo approval. We've worked in New York since 2014, across 800+ transactions and $1.3 billion in sales, and we've been named the #1 Team at LGF Compass eight times. Hillel represents buyers about three times as often as sellers.
Our buyers put it better than we can:
"He negotiated a discount in a hot market and shared valuable tips and advice." Sophia Gan, buyer, Midtown condo, 2021 (Zillow review)
"He did an amazing job negotiating with the seller, working with management of the condominium and walking us through step-by-step to ensure a smooth closing." Jon Garelick, buyer, Upper West Side condo, 2024 (Zillow review)
"He thoroughly searched comparables to make sure we negotiated a good, fair deal." Marilyn Knight, buyer, 2025 (Zillow review)
The seller, if the seller agrees to. If not, you pay what your buyer agreement says. Since January 2024, any payment from the seller goes to your agent directly, not through the listing broker.
Only if the seller pays the whole fee. Your buyer agreement says what you owe if the seller pays less.
There's no fixed rate. Commissions aren't set by law and are fully negotiable, and the amount has to be written into your buyer agreement.
No. Since 1 January 2024, REBNY rules require any payment to the buyer's agent to come from the seller.
No. REBNY took compensation fields off its listing service on 1 August 2025. Your agent has to ask.
Yes. Since 17 August 2024, a written buyer agreement is required before a tour, in person or by live video.
Yes. It's whatever you and your agent agree to in writing.
Buying in Manhattan or Brooklyn? Call us, and we'll go through the fee and the buyer agreement with you before you see a single apartment.