Why are NYC real estate fees so high? Thoughts from a Frenchman

Georges Benoliel
Sep 3, 2018 · 5 min read

When I place an order to buy Microsoft stocks, I am being charged $4.95; when I shop for a hotel, an insurance or a plane ticket, I can choose and compare between thousands of options and with Amazon Prime, I no longer pay for shipping. The internet has reduced inefficient middlemen in most industries; why haven’t real estate brokers in New York been affected?

As a Frenchman, I am particularly shocked by the high 6% real estate commissions paid in New York. The average commission paid to brokers in the United Kingdom…

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Georges has been working in Wall Street for the last 14 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade

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