Trust is built on expertise and transparency. Our brokers at 3%NY are exceptionally knowledgeable and well-prepared for every aspect of a real estate transaction. While we cannot offer legal advice, having a real estate attorney as your broker provides a significant advantage, because our industry knowledge is deeper than most other brokers. We also go above and beyond traditional brokers to offer superior service. Plus, the substantial cost savings make it a compelling choice!

Absolutely. Real estate transactions in New York City are intricate and prone to complexities. New York State has relatively low real estate transaction litigation, likely due to the fact that real estate brokers cannot legally draw up the contracts in New York State, so buyers and sellers are most often represented by real estate attorneys. The intricacies of the process demand legal expertise to mitigate potential issues and future disputes.

Absolutely! We understand that many of our clients who are selling their homes are also in the market for a new one. If your purchase is in New York City, we're happy to serve as your buyer's agent. In fact, for this service, we rebate back to you up to 50% of the commission 3%NY receives at closing. In other words, if 3%NY receives a 3% commission on your purchase, we would rebate back to you 1.5% of the purchase price at closing (50% of the commission we receive). While our services for buyers are more limited in scope, they encompass what's truly essential: expert negotiations, assisting in crafting and submitting offers, and, if needed, helping you assemble a board package. The majority of the workload is typically handled by your real estate attorney and your lender (if any). Just as we bring equitable compensation to the selling process, we're committed to fairness in the buying process as well. To learn more about how the commission process works, please see our commissions page.

We appreciate your concern, and while it may be possible, the dynamics of today's real estate process make this scenario highly unlikely. In the past, when buyers' agents were responsible for a significant portion of property research, the commission might have played a more decisive role in what they presented to their clients to see. However, in today's landscape where platforms like Zillow, Streeteasy or Redfin empower buyers to conduct their own extensive research, the process has evolved. Most buyers now attend showings independently and engage their agents when they've identified a property of interest. Moreover, ethical standards would discourage any buyers' agent from diverting clients away from a property due to commission differences. This is why we’re offering 3%, because we know the process has evolved and the compensation must be fair.

We understand the desire for comprehensive assistance, but there's a critical conflict of interest involved in serving as both your real estate broker and attorney. According to Rule 1.7 of the New York Rules of Professional Conduct, a lawyer cannot represent a client if there is a personal interest conflict that could adversely affect their professional judgment. In other words, a broker's financial interest in the transaction could impede the ability to provide impartial legal advice. This separation ensures your best interests are safeguarded. If you need a recommendation for a real estate attorney, we can provide one.

Three percent of the sales price is paid by the seller at closing, and if the buyer is represented by a buyer’s broker, the commission is split evenly. The split between us and a buyer’s broker is typically agreed upon and transparently listed up front. The commission is deducted from the purchase price and settled at the closing. When the buyer brings the check for the purchase price to the closing table, the purchase price is adjusted by subtracting the broker's commission, and separate checks are made out to the seller’s broker and to the buyer’s broker if there is one.

The 3% commission aligns with fairness, ensuring that the commission paid to the real estate broker is proportionate to the services provided to the seller. It's about equitable compensation for the valuable services rendered.

Traditional brokerages come with significant overhead costs, such as physical offices, marketing teams, and communication resources. 3%NY leverages modern technology and operates with a small yet highly efficient team, and only takes on a limited number of clients. This streamlined approach allows us to provide top-notch services as an exclusive brokerage without the burden of unnecessary expenses, ultimately benefiting our clients.