Lily: I do not work in NY but in Texas the buyer's broker commission received is a negotiable matter between the brokers. If you start with the assumption that a seller's commission (depending on size of transaction) can be anywhere from 4 to 6% of the final sale price, the brokers can then negotiate a way to divide that commission. Not a standard, but probably a guideline is that the buyers broker will earn around 50% of that, or 2-3% of the sale price. Now if the seller does not offer a commission or you can not negotiate a satisfactory deal with the sellers broker, you can always go back to your client provided your representation contract allows it. Having said that, you are in NY, and if in NYC, it may be an entirely different story. Good luck.
Jan 27, 2011