A sale price tells you what a buyer will pay. It does not tell you what you will receive.

For a New York City seller, the difference can include brokerage fees, city and state transfer taxes, building charges, legal expenses, preparation costs and the balance of an existing mortgage. Some are predictable. Others depend on your property, your building and the terms you negotiate.

At BRN, our listing fee is 2% of the sale price. That gives sellers a clear starting point for one of the largest expenses in a sale. Any fee you agree to pay the buyer’s broker is separate. Understanding that distinction is the first step toward a useful budget.

Start by separating the two brokerage fees

Ask each broker to show two amounts separately: their fee for selling your home, and any fee you agree to pay the buyer’s broker. A single combined percentage can make it difficult to see what you are paying for and which terms remain open to negotiation.

All brokerage commissions are negotiable; there is no legally required rate. Any payment to the buyer’s broker should be clearly set out in writing. A 2% listing fee does not mean that your total brokerage expense will necessarily be 2%.

On a $3 million sale, BRN’s 2% listing fee is $60,000. A listing fee of 2.5% would be $75,000; a listing fee of 3% would be $90,000. The difference is $15,000 or $30,000, respectively, assuming the same sale price and the same separately agreed fee for the buyer’s broker. These are comparisons, not claims that every competing firm charges those rates.

Look just as closely at the service. Who will prepare the pricing analysis? Who will handle showings and negotiations? How will the property be photographed and marketed? Which outside costs, if any, will you pay separately? Compare the answers alongside the fee.

Account for both city and state transfer taxes

When you sell an individual condo, co-op or one- to three-family home in NYC, you generally pay both city and state transfer taxes. These are taxes charged when ownership changes. The usual rates are below; different rules can apply to other property types or more complicated sales.

These rates generally apply to the full sale price, rather than only the amount above the price cutoff. On an ordinary $3 million residential sale, the city charge is $42,750 and the state charge is $19,500: $62,250 combined. The state calculates its tax in $500 steps, which can involve rounding. Your attorney should confirm the final amount for your sale. NYC rates · NYS rates

Mansion tax is generally paid by the buyer, although the contract and legal exceptions can change who is responsible. Ask your attorney before including it among your selling costs.

Get the building’s numbers before accepting an offer

Before listing your co-op or condo, ask the building’s management company for its sale requirements and a written list of the fees you would be responsible for paying. These may include processing fees, charges from the building’s attorney, move-out fees and extra building charges known as assessments. Check which deposits are refundable, so you can separate money you need upfront from money you will actually spend.

Some buildings impose a transfer charge commonly called a flip tax. It may be calculated from price, profit, shares or another formula. Do not estimate it from the building next door, and do not assume the buyer pays it. Ask your attorney to check the building’s rules and your sale contract.

For a townhouse, review the property records, permits for work that has not received final approval, and any ownership or unpaid-debt issues that could hold up the sale. A missing document can create both a direct expense and a delay. Assemble the records while you still have time to make choices.

Estimate how much money you will keep

Here is an example for a $3 million condo sale. It assumes no building flip tax and a separately agreed fee of 2.5% paid by the seller to the buyer’s broker. The legal, preparation and other fees are example amounts, not quotes or market averages.

This shows the overall result of the sale, not the exact amount that would arrive in your bank account on closing day. You may have paid for preparation earlier, and part of the sale price may already be held as a deposit. Payments split between buyer and seller at closing can also change the final amount. This example leaves out income taxes on a profit, credits to the buyer, extra building charges and other costs specific to your home.

Paying off your mortgage reduces the money you receive, but that does not tell you whether you made a profit on the home. The amount you keep and the profit on which you may owe tax are different calculations. Your accountant can explain the tax result.

Compare offers by what they leave you

When an offer arrives, update the estimate for its price, any credit or broker fee the buyer asks you to pay, and the closing date. A higher offer with a large credit may leave less than a lower offer without one. A later closing can mean additional mortgage interest, common charges, maintenance, taxes and insurance.

A lower listing fee improves that calculation, but it cannot rescue a weak pricing or negotiation strategy. BRN combines a 2% listing fee with direct involvement from the people who run the firm. Fewer layers of agents and management keep our overhead low and give you direct access to the people responsible for your sale.

Our experience in law, banking and real estate informs how we evaluate price, terms and the risks to completing a transaction. Our work representing buyers also helps us anticipate how a serious purchaser will assess the property and where a negotiation is likely to become difficult.

Before listing, you should have three things in hand: a price range backed by comparable sales, a written marketing and preparation plan, and an estimate of what you will keep using your home’s actual costs. Together, they turn an appealing headline price into a decision you can evaluate.

Sources and notes

Tax information checked November 2026. Sources: NYC Department of Finance; NYS Department of Taxation and Finance; REBNY seller/buyer-broker compensation checklist. Examples are illustrative. Your attorney, accountant and transaction documents determine the applicable legal and tax treatment.